v2.4.0.6

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2012	Dec. 31, 2011
ASSETS
Cash	$ 19,715	$ 189,148
Prepaid expenses and other	4,683	19,371
Total Current Assets	24,398	208,519
Debt Issue Costs	16,367	28,084
Patents	112,166	438,540
Property and Equipment	7,889	9,467
Total Assets	160,820	684,610
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable	156,869	86,027
Derivative liability	39,161	15,862
Accrued liabilities	379,964	361,281
Loans payable	306,472	33,884
Due to related parties	1,123,676	647,364
Convertible notes payable to related party (Note 6 (a))	33,885	33,885
Convertible secured debt	549,163	477,640
Total Current Liabilities	2,589,190	1,655,943
Loans payable		103,929
Convertible debt		78,500
Total Liabilities	2,589,190	1,838,372
Stockholders' Equity (Deficit)
Common stock; Authorized: 450,000,000 shares, par value $0.001; Issued and outstanding: 308,655,169 and 307,256,836, (December 31, 2011 - 180,423,597 and 179,025,264)	307,257	179,025
Additional paid-in capital	25,441,387	25,173,736
Accumulated deficit	(114,175)	(114,175)
Deficit accumulated during the development stage	(28,062,839)	(26,392,348)
Stockholders' Equity (Deficit)	(2,428,370)	(1,153,762)
Total Liabilities and Stockholders' Equity (Deficit)	$ 160,820	$ 684,610

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

BIOCUREX INC 10-Q