LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 154,500 $ 18,378 Short-Term Debentures, including accrued interest - 1,431,813 Total Current Liabilities 154,500 1,450,191 Long-Term Debentures, including accrued interest 1,543,503 TOTAL LIABILITIES 1,698,003 1,450,191 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' DEFICIENCY: Preferred stock-$.001 par value; 50,000,000 shares authorized; - -0- shares issued and outstanding -- -- Common stock-$.001 par value;30,000,000,000 shares authorized ; - 2,987,935,294 and 1,428,730,286 shares issued and outstanding at December 31, 2010 and December 31, 2009 , respectively 2,984,443 1,428,730 Additional paid-in-capital 35,425,158 35,733,183 Accumulated deficit (39,942,436) (38,524,104) TOTAL STOCKHOLDERS' DEFICIENCY (1,532,835) (1,362,191) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY