RESTATEMENT

12 Months Ended

Dec. 31, 2011

Restatement Of Prior Year Income [Abstract]

NOTE 15 – RESTATEMENT

During November 2012, the Company discovered material errors associated with the financial statements issued for the period January 1, 2010 to December 31, 2010.

The Company has determined that its previously filed Form 10-K included an amount related to payroll liabilities that was overstated. The previous balance was $391,124; the new restated amount is $131,982. As a result the Company restated the December 31, 2010 financial statements.

The Company adjusted previously issued financial statements to reflect the following in connection with the restatement:

	As Restated			Adjustment			As Previously Reported

Accrued payroll liabilities	$	131,982		$	(259,142	)	$	391,124
Accumulated deficit		(4,173,349	)		(246,613	)		(4,419,962	)
Total stockholders’ deficit		(4,103,534	)		(259,142	)		(4,362,676	)

Payroll expense		696,579			(246,613	)		943,192
Net loss		(3,810,518	)		(246,613	)		(4,057,131	)
Foreign currency translation adjustment		(68,242	)		12,529			(80,771	)

Net loss per share – basic and diluted	$	(0.05	)	$	(0.00	)	$	(0.05	)

RegenoCELL Therapeutics, Inc. 10-K