v2.4.0.6

Statement of Operations (USD $)	3 Months Ended		6 Months Ended		93 Months Ended
Statement of Operations (USD $)	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
OPERATING EXPENSES
Amortization of equipment	$ 24,314	$ 278	$ 24,743	$ 556	$ 26,411
Amortization of patents	19,186	19,185	38,371	38,371	153,482
General and administrative	234,616	168,958	454,340	351,958	1,443,891
Professional fees	348,102	148,775	512,838	221,211	1,265,654
Research and development	454,468	868,924	880,639	1,270,924	3,885,923
Stock-based compensation	154,689	79,855	903,322	234,778	2,309,146
Total Operating Expenses	(1,235,375)	(1,285,975)	(2,814,253)	(2,117,798)	(9,084,507)
OTHER ITEM
Interest income	25	0	25	0	25
Impairment of intangible assets	0	0	0	0	(106,000)
Total Other Items	25	0	25	0	(105,975)
Loss and comprehensive loss for the period	$ (1,235,350)	$ (1,285,975)	$ (2,814,228)	$ (2,117,798)	$ (9,190,482)
Basic and diluted loss per common share	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)
Weighted average number of common shares outstanding	148,879,627	145,190,610	147,903,659	143,750,673

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

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The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.

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Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money.

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QUANTUM SOLAR POWER CORP. 10-Q