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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter period ended December 31, 2012

For the quarterly period ended March 31, 2013

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to __________

For the transition period from __________ to __________

Commission file number 000-50156

MOLECULAR PHARMACOLOGY (USA) LIMITED

(Exact name of registrant as specified in its charter)

NEVADA

71-0900799

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

Drug Discovery Centre 284 Oxford Street, Leederville 6007 Perth, Western Australia

(Address of principal executive offices)

(Zip Code)

011-61-8-9443-3011

(Registrant's telephone number, including area code)

Not Applicable

(Former name, former address and formal fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

~~Yes x~~

Yes x

~~No o~~

No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (s232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Not applicable - Issuer does not have a Web site

~~Yes o~~

Yes o

~~No o~~

No o

Indicate by check mark whether the registrant is large accelerated filer, an accelerated filer, a non accelerated filer, or a small reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer o

Accelerated Filer o

Non-Accelerated Filer o (Do not check if a smaller reporting company)

Smaller Reporting Company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes o No x APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court Yes o No x APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest practicable date. 111,553,740 common shares issued and outstanding as of February 8, 2013.

Large Accelerated Filer o

Accelerated Filer o

Non-Accelerated Filer o

Smaller Reporting Company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes o

No x

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes o

No x

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest practicable date.

111,553,740 common shares issued and outstanding as of May 8, 2013.

~~MOLECULAR~~ MOLECULAR PHARMACOLOGY (USA) LIMITED Form 10-Q ~~December~~ March 31, ~~2012~~2013

Table of Contents

PART I – FINANCIAL INFORMATION Item 1. Interim Consolidated Financial Statements 1 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3. Quantitative and Qualitative Disclosures About Market Risk 28 Item 4. Controls and Procedures 28 PART II – OTHER INFORMATION Item 1. Legal Proceedings 30 Item 1A. Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31 SIGNATURES 31

PART I - FINANCIAL INFORMATION

Item 1.	Interim Consolidated Financial Statements	1
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	28
Item 4.	Controls and Procedures	29

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings	31
Item 1A.	Risk Factors	31
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	31
Item 3.	Defaults Upon Senior Securities	31
Item 4.	Mine Safety Disclosures	31
Item 5.	Other Information	31
Item 6.	Exhibits	32

SIGNATURES		32

iii

PART 1 - FINANCIAL INFORMATION

Item 1. Interim Consolidated Financial Statements.

~~The~~ The information in this report for the ~~six~~nine months ended ~~December~~March 31, ~~2012~~2013, is unaudited but includes all adjustments (consisting only of normal recurring accruals, unless otherwise indicated) which Molecular Pharmacology (USA) Limited ("Molecular USA" or the "Company") considers necessary for a fair presentation of the financial position, results of operations, changes in stockholders' deficiency and cash flows for those periods.

~~The~~ The interim consolidated financial statements should be read in conjunction with Molecular USA's consolidated financial statements and the notes ~~thereto~~ thereto contained in Molecular USA's Audited Financial Statements for the year ended June 30, 2012, in the Form ~~10K~~10-K filed with the SEC on August 22, 2012.

~~Interim~~ Interim results are not necessarily indicative of results for the full fiscal year.

~~The~~ The unaudited interim consolidated financial statements start on the next page.

Molecular Pharmacology (USA) Limited(A Development Stage Company)

Interim Consolidated Financial Statements
(Expressed in U.S. Dollars)
(Unaudited)
31 March 2013

~~(A Development Stage Company)~~ 2

Molecular Pharmacology (USA) Limited (A Development Stage Company) Interim Consolidated Balance Sheets ~~Financial~~(Expressed ~~Statements~~in U.S. Dollars)

(Expressed in U.S. Dollars)

	As at 31 March 2013	As at 30 June 2012 (Audited)
	$	$
Assets

Current
Cash and cash equivalents	13,124	2,572
Amounts receivable	4,335	5,110

	17,459	7,682


Equipment (Note 4)	152	1,159

	17,611	8,841
Liabilities

Current
Accounts payable and accrued liabilities (Note 5)	7,000	19,252


Due to related parties (Note 6)	2,283,574	2,069,448


	2,290,574	2,088,700

Stockholders' deficiency
Capital stock (Note 7)
Authorized
300,000,000 common shares, par value $0.001
Issued and outstanding
31 March 2013 - 111,553,740 common shares, par value $0.001
30 June 2012 - 111,553,740 common shares, par value $0.001	111,554	111,554
Additional paid-in capital	106,707	106,707
Cumulative translation adjustment	(486,587)	(446,072)
Deficit, accumulated during the development stage	(2,004,637)	(1,852,048)


	(2,272,963)	(2,079,859)


	17,611	8,841

Nature and Continuance of Operations (~~Unaudited~~Note 1)

31 On ~~December~~behalf ~~2012~~of the Board:

2 /s/ Jeffrey Edwards Director Jeffery Edwards

The accompanying notes are an integral part ~~Molecular~~of ~~Pharmacology~~these ~~(USA)~~interim ~~Limited~~consolidated financial statements.

~~(A Development Stage~~ ~~Company)~~ 3

Molecular Pharmacology (USA) Limited (A Development Stage Company) Interim Consolidated ~~Balance~~Statements ~~Sheets~~of Operations (Expressed in U.S. Dollars) (Unaudited)

(Expressed in U.S. Dollars)

	For the period from the date of inception on 14 July 2004 to 31 March 2013	For the three month period ended 31 March 2013	For the three month period ended 31 March 2012	For the nine month period ended 31 March 2013	For the nine month period ended 31 March 2012
Expenses	$	$	$	$	$
Advertising and promotion	23,739	-	-	-	-
Amortization (Note 4)	6,875	14	114	184	339
Analysis	33,947	-	-	-	-
Consulting (Note 6)	1,394,182	39,923	9,126	104,041	69,259
Office and miscellaneous (Note 6)	238,943	4,630	5,671	20,410	16,244
Professional fees	386,355	7,029	15,899	26,772	26,712
Public relations	3,656	-	-	-	-
Rent (Note 6)	27,759	-	-	-	-
Salaries and benefits	44,464	-	-	-	-
Transfer agent and filing fees	17,172	-	-	-	-
Travel	111,693	-	-	359	-

Net loss before other items	(2,288,785)	(51,596)	(30,810)	(151,766)	(112,554)

Other items
Export market development grants	69,629	-	-	-	-
Loss on write-off of equipment (Note 4)	(823)	-	-	(823)	-
Interest income	2,322	-	-	-	-
Research and development tax refund	213,020	-	-	-	-

Net loss for the period	(2,004,637)	(51,596)	(30,810)	(152,589)	(112,554)

Basic and diluted loss per common share		(0.001)	(0.001)	(0.001)	(0.001)

Weighted average number of common shares used in per share calculations		111,553,740	111,553,740	111,553,740	111,553,740

Comprehensive loss
Net loss for the period	(2,004,637)	(51,596)	(30,810)	(152,589)	(112,554)
Foreign currency translation adjustment	(486,587)	(7,752)	(22,403)	(40,515)	41,201

Total comprehensive loss for the period	(2,491,224)	(59,348)	(53,213)	(193,104)	(71,353)

Basic and diluted comprehensive loss per common share		(0.001)	(0.001)	(0.002)	(0.001)

The accompanying Asnotes atare ~~31 December 2012 As~~an atintegral part 30of ~~June 2012 (Audited)~~ these interim ~~$ $~~ consolidated financial Assets Current Cash and cash equivalents 5,994 2,572 Amounts receivable 7,521 5,110 13,515 7,682 Equipment (Note 4) 166 1,159 13,681 8,841 Liabilities Current Accounts payable and accrued liabilities (Note 5) 7,184 19,252 Due to related parties (Note 6) 2,220,112 2,069,448 2,227,296 2,088,700 Stockholders’ deficiency Capital stock (Note 7) Authorized 300,000,000 common shares, par value $0statements.001 Issued and outstanding 31 December 2012 – 111,553,740 common shares, par value $0.001 30 June 2012 – 111,553,740 common shares, par value $0.001 111,554 111,554 Additional paid-in capital 106,707 106,707 Cumulative translation adjustment (478,835) (446,072) Deficit, accumulated during the development stage (1,954,041) (1,852,048) (2,213,615) (2,079,859) 13,681 8,841

~~Nature and Continuance of Operations (Note 1)~~ 4

On Molecular ~~behalf~~Pharmacology (USA) Limited (A Development Stage Company) Interim Consolidated Statements of ~~the~~Cash ~~Board:~~Flows (Expressed in U.S. Dollars) (Unaudited)

/s/ Jeffery Edwards Director

	For the period from the date of inception on 14 July 2004 to 31 March 2013	For the three month period ended 31 March 2013	For the three month period ended 31 March 2012	For the nine month period ended 31 March 2013	For the nine month period ended 31 March 2012
Cash flows used in operating activities	$	$	$	$	$
Net loss for the period	(2,004,637)	(51,596)	(30,810)	(152,589)	(112,554)
Adjustments to reconcile net loss to cash used by operating activities
Amortization	6,875	14	114	184	339
Write-down of intangible assets	1,278	-	-	-	-
Write-off of equipment	823	-	-	823	-
Changes in operating assets and liabilities
(Increase) decrease in amounts receivable	(2,109)	3,186	4,240	775	1,813
Increase in prepaid expenses	-	-	876	-	(500)
Decrease in accounts payable and accrued liabilities	(40,417)	(184)	(5,805)	(12,252)	(12,467)
	(2,038,187)	(48,580)	(31,385)	(163,059)	(123,369)

Cash flows from investing activities
Purchase of equipment	(7,850)	-	-	-	-
Purchase of intangible assets	(1,278)	-	-	-	-
Cash acquired on the purchase of Molecular Pharmacology (USA) Limited	37,163	-	-	-	-
	28,035	-	-	-	-

Cash flows from financing activities
Common shares issued for cash	234,497	-	-	-	-
Increase in due to related parties	2,275,366	63,462	57,219	214,126	86,958
	2,509,863	63,462	57,219	214,126	86,958


Effect of exchange rate changes on cash	(486,587)	(7,752)	(22,403)	(40,515)	41,201

Increase in cash and cash equivalents	13,124	7,130	3,431	10,552	4,790
Cash and cash equivalents, beginning of period	-	5,994	10,034	2,572	8,675

Cash and cash equivalents, end of period	13,124	13,124	13,465	13,124	13,465

~~Jeffery~~ Supplemental ~~Edwards~~Disclosures with Respect to Cash Flows (Note 10)

The accompanying notes are an integral part of these interim consolidated financial statements.

3 5

Molecular Pharmacology (USA) Limited (A Development Stage Company) Interim Consolidated Statements of Changes in Stockholders' Deficiency (Expressed in U.S. Dollars) (Unaudited)

(A Development Stage Company)

	Number of common shares issued		Capital stock		Additional paid-in capital		Deficit, accumulated during the development stage		Cumulative translation adjustment		Stockholders' deficiency
				$		$		$		$		$
Balance at 14 July 2004 (inception)		294		-		1		-		-		1
Net loss for the period		-		-		-		(128,488)		-		(128,488)
Cumulative translation adjustment		-		-		-		-		(6,536)		(6,536)
Balance at 31 October 2004		294		-		1		(128,488)		(6,536)		(135,023)
Common shares issued for cash - January 2005		87,999,706		88,000		146,496		-		-		234,496
Net loss for the year		-		-		-		(387,667)		-		(387,667)
Cumulative translation adjustment		-		-		-		-		(161)		(161)
Balance at 31 October 2005		88,000,000		88,000		146,497		(516,155)		(6,697)		(288,355)
Acquisition of Molecular Pharmacology (USA) Limited - Recapitalization May 2006		43,553,740		43,554		(59,790)		-		-		(16,236)
Cancellation of common shares - July 2006		(20,000,000)		(20,000)		20,000		-		-		-
Net loss for the year		-		-		-		(508,260)		-		(508,260)
Cumulative translation adjustment		-		-		-		-		(16,222)		(16,222)
Balance at 31 October 2006		111,553,740		111,554		106,707		(1,024,415)		(22,919)		(829,073)
Net loss for the period		-		-		-		(377,131)		-		(377,131)
Cumulative translation adjustment		-		-		-		-		(105,436)		(105,436)
Balance at 30 June 2007		111,553,740		111,554		106,707		(1,401,546)		(128,355)		(1,311,640)
Net income for the year		-		-		-		62,296		-		62,296
Cumulative translation adjustment		-		-		-		-		(166,483)		(166,483)
Balance at 30 June 2008		111,553,740		111,554		106,707		(1,339,250)		(294,838)		(1,415,827)
Net loss for the year		-		-		-		(94,336)		-		(94,336)
Cumulative translation adjustment		-		-		-		-		219,034		219,034
Balance at 30 June 2009		111,553,740		111,554		106,707		(1,433,586)		(75,804)		(1,291,129)
Net loss for the year		-		-		-		(117,220)		-		(117,220)
Cumulative translation adjustment		-		-		-		-		(78,521)		(78,521)
Balance at 30 June 2010		111,553,740		111,554		106,707		(1,550,806)		(154,325)		(1,486,870)
Net loss for the year		-		-		-		(121,860)		-		(121,860)
Cumulative translation adjustment		-		-		-		-		(357,962)		(357,962)
Balance at 30 June 2011		111,553,740		111,554		106,707		(1,672,666)		(512,287)		(1,966,692)
Net loss for the year		-		-		-		(179,382)		-		(179,382)
Cumulative translation adjustment		-		-		-		-		66,215		66,215
Balance at 30 June 2012		111,553,740		111,554		106,707		(1,852,048)		(446,072)		(2,079,859)
Net loss for the period		-		-		-		(152,589)		-		(152,589)
Cumulative translation adjustment		-		-		-		-		(40,515)		(40,515)
Balance at 31 March 2013		111,553,740		111,554		106,707		(2,004,637)		(486,587)		(2,272,963)

~~Interim~~The ~~Consolidated~~accompanying ~~Statements~~notes are an integral part of ~~Operations~~these interim consolidated financial statements.

~~(Expressed in U.S. Dollars)~~ 6

Molecular Pharmacology (USA) Limited (A Development Stage Company) Notes to Interim Consolidated Financial Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

For the period from the date of inception on 14 July 2004 to 31 December 2012 For the three month period ended 31 December 2012 For the three month period ended 31 December 2011 For the six month period ended 31 December 2012 For the six month period ended 31 December 2011 $ $ $ $ $ Expenses Advertising and promotion 23,739 - - - - Amortization (Note 4) 6,861 84 112 170 225 Analysis 33,947 - - - - Consulting (Note 6) 1~~,354,259~~ . ~~30,638 41,669 64,118 60,133~~ Nature ~~Office~~ and ~~miscellaneous~~Continuance (Note 6) 234,313 6,786 6,128 15,780 10,573 Professional fees 379,326 10,566 6,563 19,743 10,813 Public relations 3,656 - - - - Rent (Note 6) 27,759 - - - - Salaries and benefits 44,464 - - - - Transfer agent and filing fees 17,172 - - - - Travel 111,693 - - 359 - Net loss before other items (2,237,189) (48,074) (54,472) (100,170) (81,744) Other items Export market development grants 69,629 - - - - Loss on write-off of ~~equipment~~Operations (823) (823) - (823) - Interest income 2,322 - - - - Research and development tax refund 213,020 - - - - Net loss for the period (1,953,041) (48,897) (54,472) (100,993) (81,744) Basic and diluted loss per common share (0.001) (0.001) (0.001) (0.001) Weighted average number of common shares used in per share calculations 111,553,740 111,553,740 111,553,740 111,553,740 Comprehensive loss Net loss for the period (1,953,041) (48,897) (54,472) (100,993) (81,744) Foreign currency translation adjustment (478,835) (1,829) (94,964) (32,763) 63,604 Total comprehensive loss for the period (2,431,876) (50,726) (149,436) (133,756) (18,140) Basic and diluted comprehensive loss per common share (0.001) (0.001) (0.001) (0.001)

Molecular Pharmacology (USA) Limited (the "Company") was incorporated in the state of Nevada on 1 May 2002 under the name Blue Hawk Ventures, Inc. The Company ~~accompanying~~changed ~~notes~~its ~~are~~name anto ~~integral~~Molecular ~~part~~Pharmacology (USA) Limited on 29 August 2005. At the same time, the Company completed a four for one forward split of ~~these~~its ~~interim~~issued ~~consolidated~~and ~~financial~~outstanding ~~statements~~share capital and altered its authorized share capital to 300,000,000 shares of common stock with a par value of $0.001 per share.

4 The Company is a development stage enterprise, as defined in Accounting Standards Codification (the "Codification" or "ASC") 915-10, " Development Stage Entities". The Company is devoting all of its present efforts to securing and establishing a new business and its current planned principle operations have not commenced. Accordingly, no revenue has been derived during the organization period.

~~Molecular~~ Up ~~Pharmacology~~until ~~(USA)~~the fall of 2005, the Company was in the business of mineral exploration and development of a mineral property. The Company allowed the option ~~Limited~~ on its mineral claim to lapse in the fall of 2005.

On 13 October 2005, the Company acquired the exclusive distribution rights to distribute, market, promote, detail, advertise and sell certain "Licensed Products" through Molecular Pharmacology Pty. Ltd. (Aformerly ~~Development~~Molecular ~~Stage~~Pharmacology Limited) ("MPLA") (Note 9). MPLA was incorporated under the laws of ~~Company~~ Australia and converted to a proprietary company on 29 October 2009. MPLA is a wholly owned subsidiary company of PharmaNet Group Limited ("PharmaNet"), an Australian company listed on the Australian Stock Exchange.

~~Interim~~ ~~Consolidated~~ Since ~~Statements~~then, ofthe ~~Cash~~Company ~~Flows~~has engaged in organizational and start up activities, including developing a new business plan, recruiting new directors, scientific advisors and key scientists, making arrangements for laboratory facilities and office space and raising additional capital. The Company has generated no revenue from product sales. The Company does not have any pharmaceutical products currently available for sale, and none are expected to be commercially available for some time, if at all. The Licensed Products must first undergo pre-clinical and human clinical testing in the United States before they may be sold commercially.

The Company completed a share purchase agreement on 8 May 2006 with PharmaNet (~~Expressed~~the "Purchase Agreement"). Under the terms of the Purchase Agreement the Company acquired 100% of the issued and outstanding shares of MPLA. The Company, in Uexchange for 100% of the issued and outstanding shares of MPLA, issued PharmaNet an aggregate total of 88,000,000 common shares of the Company on the closing of the transaction.S The issuance of 88,000,000 common shares of the Company constituted an acquisition of control of the Company by PharmaNet. ~~Dollars)~~The transaction has been accounted for as a recapitalization of the Company.

~~(Unaudited)~~ MPLA was incorporated on 14 July 2004 under the laws of Australia. The accompanying interim consolidated financial statements are the historical financial statements of MPLA.

On 15 ~~For~~March ~~the period from~~2007, the ~~date~~ Board of ~~inception~~Directors onapproved 14a ~~July 2004~~change toin ~~31 December 2012 For~~ the ~~three month period ended 31~~ ~~December 2012 For~~Company's ~~the three month period ended 31~~financial ~~December 2011 For~~year ~~the six month period ended 31~~end ~~December 2012 For~~from ~~the six month period ended~~ 31 ~~December 2011~~ October ~~$ $ $ $ $~~ to 30 June. The ~~Cash~~decision ~~flows~~to ~~used~~change ~~in operating activities Net loss for~~ the ~~period~~ ~~(1,953,041) (48,897) (54,472) (100,993) (81,744)~~ fiscal year ~~Adjustments~~end towas ~~reconcile~~intended ~~net loss~~ to ~~cash~~assist ~~used~~the byfinancial ~~operating~~community ~~activities~~ in its ~~Amortization 6,861 84 112 170 225~~ analysis ~~Write-down~~ of ~~intangible~~ ~~assets 1,278 - - - -~~ the business ~~Write-off of equipment 823 823 - 823 - Changes in operating assets~~ and ~~liabilities Increase~~ in ~~amounts receivable (5,295) (673) (1,791) (2,411) (2,427)~~ comparing Increase in prepaid expenses - - (1,376) - (1,376) Decrease in accounts payable and accrued liabilities (40,233) (11,116) (3,719) (12,068) (6,662) (1,989,607) (59,779) (61,246) (114,479) (91,984) Cash flows from investing activities Purchase of equipment (7,850) - - - - Purchase of intangible assets (1,278) - - - - Cash acquired on the ~~purchase~~Company's offinancial ~~Molecular~~results Pharmacology (USA) Limited 37,163 - - - - 28,035 - - - - Cash flows from financing activities Common shares issued for cash 234,497 - - - - Increase in due to ~~related parties~~ ~~2,211,904 56,159 155,225 150,664 29,739~~ others 2,446,401 56,159 155,225 150,664 29,739 Effect of exchange rate changes on cash (478,835) (1,829) (94,964) (32,763) 63,604 Increase (decrease) in ~~cash~~the ~~and cash equivalents 5~~industry,~~994 (5,449) (985) 3,422 1,359~~ ~~Cash~~ and ~~cash~~to ~~equivalents,~~synchronize ~~beginning~~the ofCompany's ~~period - 11,443 11,019 2,572 8,675~~ fiscal reporting with MPLA. ~~Cash and cash equivalents, end of period 5,994 5,994 10,034 5,994 10,034~~

~~Supplemental Disclosures with Respect to Cash~~ ~~Flows (Note 10)~~ 7

~~The~~ Molecular ~~accompanying~~Pharmacology ~~notes~~(USA) ~~are~~Limited (A anDevelopment ~~integral~~Stage ~~part~~Company) of Notes ~~these~~to ~~interim~~Interim ~~consolidated~~Consolidated ~~financial~~Financial ~~statements~~Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

5 The Company's interim consolidated financial statements as at 31 March 2013 and for the nine month period then ended have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company has a net loss of $152,589 for the nine month period ended 31 March 2013 (31 March 2012 - $112,554, cumulative - $2,004,637) and has working capital of $10,459 at 31 March 2013 (30 June 2012 - working capital deficit of $11,570).

~~Molecular~~ Management ~~Pharmacology~~cannot ~~(USA)~~provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive, or raise additional ~~Limited~~ debt and/or equity capital. Management believes that the Company's capital resources should be adequate to continue operating and maintaining its business strategy during the next 12 month period. However, if the Company is unable to raise additional capital in the near future, due to the Company's liquidity problems, management expects that the Company will need to curtail operations, liquidate assets, seek additional capital on less favorable terms and/or pursue other remedial measures. These interim consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

(A At ~~Development~~31 ~~Stage~~March 2013, the Company has suffered losses from development stage activities to date. Although management is currently attempting to implement its business plan, and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful. These factors raise substantial doubt about the ability of the Company) to continue as a going concern. The interim consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

~~Interim~~ 2. ~~Consolidated~~ Significant ~~Statements~~Accounting ~~of Changes in Stockholders’ Deficiency~~Policies

~~(Expressed~~ The following is a summary of significant accounting policies used in ~~U.S.~~the ~~Dollars)~~preparation of these interim consolidated financial statements.

~~(Unaudited)~~ Basis of presentation

Number of common shares issued Capital stock Additional paid-in capital Deficit, accumulated during the development stage Cumulative translation adjustment Stockholders' deficiency
$ $ $ $ $
Balance at 14 July 2004 (inception) 294 - 1 - - 1
Net loss for the period - - - (128,488) - (128,488)
Cumulative translation adjustment - - - - (6,536) (6,536)
Balance at 31 October 2004 294 - 1 (128,488) (6,536) (135,023)
Common shares issued for cash - January 2005 87,999,706 88,000 146,496 - - 234,496
Net loss for the year - - - (387,667) - (387,667)
Cumulative translation adjustment - - - - (161) (161)
Balance at 31 October 2005 88,000,000 88,000 146,497 (516,155) (6,697) (288,355)
Acquisition of Molecular Pharmacology (USA) Limited - Recapitalization May 2006 43,553,740 43,554 (59,790) - - (16,236)
Cancellation of common shares - July 2006 (20,000,000) (20,000) 20,000 - - -
Net loss for the year - - - (508,260) - (508,260)
Cumulative translation adjustment - - - - (16,222) (16,222)
Balance at 31 October 2006 111,553,740 111,554 106,707 (1,024,415) (22,919) (829,073)
Net loss for the period - - - (377,131) - (377,131)
Cumulative translation adjustment - - - - (105,436) (105,436)
Balance at 30 June 2007 111,553,740 111,554 106,707 (1,401,546) (128,355) (1,311,640)
Net income for the year - - - 62,296 - 62,296
Cumulative translation adjustment - - - - (166,483) (166,483)
Balance at 30 June 2008 111,553,740 111,554 106,707 (1,339,250) (294,838) (1,415,827)
Net loss for the year - - - (94,336) - (94,336)
Cumulative translation adjustment - - - - 219,034 219,034
Balance at 30 June 2009 111,553,740 111,554 106,707 (1,433,586) (75,804) (1,291,129)
Net loss for the year - - - (117,220) - (117,220)
Cumulative translation adjustment - - - - (78,521) (78,521)
Balance at 30 June 2010 111,553,740 111,554 106,707 (1,550,806) (154,325) (1,486,870)
Net loss for the year - - - (121,860) - (121,860)
Cumulative translation adjustment - - - - (357,962) (357,962)
Balance at 30 June 2011 111,553,740 111,554 106,707 (1,672,666) (512,287) (1,966,692)
Net loss for the year - - - (179,382) - (179,382)
Cumulative translation adjustment - - - - 66,215 66,215
Balance at 30 June 2012 111,553,740 111,554 106,707 (1,852,048) (446,072) (2,079,859)
Net loss for the period - - - (100,993) - (100,993)
Cumulative translation adjustment - - - - (33.763) (32,763)
Balance at 31 December 2012 111,553,740 111,554 106,707 (1,953,041) (478,835) (2,213,615)
These interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") applicable for a development stage company for financial information and are expressed in U.S. dollars.

~~The accompanying~~ ~~notes~~ Principles ~~are an integral part~~ of ~~these interim consolidated financial statements.~~consolidation

6 These interim consolidated financial statements include the accounts of MPLA since its incorporation on 14 July 2004 and the Company since the reverse acquisition on 8 May 2006 (Note 1). All intercompany balances and transactions have been eliminated.

~~Molecular~~ Cash ~~Pharmacology (USA)~~and ~~Limited~~cash equivalents

(A Cash ~~Development~~and ~~Stage~~cash equivalents include highly liquid investments with original maturities of three months or less. ~~Company)~~

~~Notes to Interim Consolidated Financial Statements~~ 8

Molecular Pharmacology (USA) Limited (A Development Stage Company) Notes to Interim Consolidated Financial Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

~~(Unaudited)~~ Segments of an enterprise and related information

31 ~~December~~ ASC ~~2012~~280, "Segment Reporting" establishes guidance for the way that public companies report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements issued to the public. It also establishes standards for disclosures regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of a company about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance.

~~1. Nature~~ Foreign ~~and~~currency ~~Continuance of Operations~~translation

~~Molecular Pharmacology (USA)~~ ~~Limited~~ The ~~(the~~functional ~~"Company")~~currency ~~was~~of ~~incorporated~~each inof the ~~state~~Company's ofentities ~~Nevada~~is onmeasured 1using ~~May 2002~~the ~~under~~currency of the ~~name~~primary ~~Blue~~economic ~~Hawk~~environment ~~Ventures,~~in ~~Inc~~which that entity operates. The ~~Company~~functional ~~changed~~currency ~~its~~of ~~name to~~ Molecular Pharmacology (USA) Limited onis 29U.S. ~~August 2005~~dollars. At ~~the~~The ~~same~~functional ~~time,~~currency ~~the Company completed a four for one forward split~~ of ~~its~~MPLA ~~issued~~is ~~and~~Australian ~~outstanding~~dollars. ~~share capital and~~The ~~altered~~ reporting ~~its~~currency ~~authorized share capital to 300,000,000 shares~~ of ~~common~~the ~~stock~~Company ~~with a~~is ~~par value of $0~~U.~~001 per share~~S. dollars.

~~The~~ On ~~Company~~consolidation, isMPLA's afinancial ~~development stage~~statements ~~enterprise,~~are astranslated ~~defined~~into inthe ~~Accounting~~presentation ~~Standards~~currency, ~~Codification~~being ~~(the~~U.S. ~~"Codification"~~dollars, ~~or "~~in accordance with ASC") ~~915-10~~830, "~~Development~~ Foreign ~~Stage~~Currency ~~Entities~~Matters". ~~The~~ ~~Company~~Assets isand ~~devoting~~liabilities ~~all~~denominated ofin ~~its~~foreign ~~present~~currencies ~~efforts~~are totranslated ~~securing~~using ~~and~~the ~~establishing~~exchange rate prevailing at the a balance ~~new~~sheet ~~business~~date. Revenue and ~~its~~expenses ~~current~~are ~~planned~~translated ~~principle~~at ~~operations~~average ~~have~~rates ~~not commenced~~of exchange prevailing during the period. ~~Accordingly,~~ noTranslation ~~revenue~~adjustments resulting ~~has~~ from ~~been~~this ~~derived~~process ~~during~~are ~~the~~charged ~~organization~~or ~~period~~credited to Other Comprehensive Income.

Up The ~~until~~Company ~~the~~has ~~fall of 2005~~not, ~~the Company~~to ~~was in~~ the ~~business~~date of ~~mineral~~these ~~exploration~~interim ~~and~~consolidated ~~development~~financial ofstatements, aentered ~~mineral property. The~~into ~~Company~~derivative ~~allowed~~instruments ~~the option on its mineral claim~~ to ~~lapse~~offset in the ~~fall~~impact of foreign ~~2005~~currency fluctuations.

~~On 13 October 2005, the~~ ~~Company acquired the exclusive distribution rights to distribute, market,~~ Equipment promote, detail, advertise and sell certain "Licensed Products" through Molecular Pharmacology Pty. Ltd. (formerly Molecular Pharmacology Limited) ("MPLA") (Note 9). MPLA was incorporated under the laws of Australia and converted to a proprietary company on 29 October 2009. MPLA is a wholly owned subsidiary company of PharmaNet Group Limited ("PharmaNet"), an Australian company listed on the Australian Stock Exchange.

~~Since then, the Company has~~ ~~engaged~~ Equipment inis ~~organizational~~recorded ~~and~~at ~~start~~cost ~~up activities, including developing a new business plan, recruiting new directors, scientific advisors~~ and ~~key scientists,~~amortization ~~making~~is ~~arrangements~~provided ~~for~~over ~~laboratory~~its ~~facilities~~estimated ~~and~~economic ~~office~~life space and raising additional capital. The Company has generated no revenue from product sales. The Company does not have any pharmaceutical products currently available for sale, and none are expected to be commercially available for some time, if at ~~all. The Licensed Products must first undergo pre-clinical and human clinical testing in~~ the ~~United~~rate ~~States~~of ~~before~~15% ~~they~~declining ~~may be sold commercially~~balance.

~~The Company completed a~~ ~~share~~ Income ~~purchase agreement on 8 May 2006 with PharmaNet (the "Purchase~~taxes Agreement"). Under the terms of the Purchase Agreement the Company acquired 100% of the issued and outstanding shares of MPLA. The Company, in exchange for 100% of the issued and outstanding shares of MPLA, issued PharmaNet an aggregate total of 88,000,000 common shares of the Company on the closing of the transaction. The issuance of 88,000,000 common shares of the Company constituted an acquisition of control of the Company by PharmaNet. The transaction has been accounted for as a recapitalization of the Company (Note 2).

~~MPLA~~ Deferred ~~was~~income ~~incorporated~~taxes onare ~~14 July~~reported ~~2004~~for ~~under~~timing ~~the~~differences ~~laws~~between items of ~~Australia. The~~income ~~accompanying~~or expense reported in the interim consolidated financial statements and those reported for income tax purposes in accordance with ASC 740, "Income Taxes", which requires the use of the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the ~~historical~~future tax consequences attributable to differences between the financial ~~statements~~statement carrying amounts of ~~MPLA~~existing assets and liabilities and their respective tax bases, and for tax losses and credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company provides for deferred taxes for the estimated future tax effects attributable to temporary differences and carry-forwards when realization is more likely than not.

~~On 15 March 2007, the Board~~ ~~of Directors approved a change in the Company's financial year end from 31 October to 30~~ 9 June. The decision to change the fiscal year end was intended to assist the financial community in its analysis of the business and in comparing the Company’s financial results to others in the industry, and to synchronize the Company’s fiscal reporting with MPLA.

7 Molecular Pharmacology (USA) Limited (A Development Stage Company) Notes to Interim Consolidated Financial Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

~~Molecular~~ Comprehensive ~~Pharmacology~~ income (~~USA~~loss) ~~Limited~~

(A ASC ~~Development~~220, ~~Stage~~"Comprehensive Income", establishes standards for the reporting and disclosure of comprehensive ~~Company)~~

~~Notes~~ income to(loss) ~~Interim~~and ~~Consolidated~~its ~~Financial~~components ~~Statements~~in the financial statements. As at 31 March 2013, the Company has items that represent a comprehensive loss and, therefore, has included a schedule of comprehensive loss in the interim consolidated financial statements.

~~(Expressed~~ Basic inand ~~U.S.~~diluted ~~Dollars~~net income (loss) per share

The Company computes net income (~~Unaudited~~loss) per share in accordance with ASC 260, "Earnings per Share". ASC 260 requires presentation of both basic and diluted earnings per share ("EPS") on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all potentially dilutive common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all potentially dilutive shares if their effect is anti-dilutive.

31 ~~December~~ Stock-based ~~2012~~compensation

~~The~~ Effective 1 January 2006, the Company’s ~~interim~~adopted ~~consolidated~~the ~~financial~~provisions ~~statements~~of asASC at718, 31"Compensation - Stock Compensation", which establishes accounting for ~~December~~ equity ~~2012~~instruments ~~and~~exchanged for employee services. Under the ~~six~~provisions ~~month~~of ~~period~~ASC ~~then~~718, ~~ended~~stock-based ~~have~~compensation ~~been~~cost ~~prepared~~is onmeasured ~~a going~~at ~~concern~~the ~~basis~~grant date, ~~which~~based on ~~contemplates~~ the ~~realization~~calculated fair value of ~~assets~~the award, and ~~settlement~~ ofis ~~liabilities~~recognized ~~and~~as ~~commitments~~an inexpense over the ~~normal~~employees' ~~course~~requisite ofservice period (generally the vesting period ~~business~~ of the equity grant). The Company ~~has~~adopted aASC ~~net~~718 using the modified prospective method, which requires the Company to record compensation expense over ~~loss~~ the vesting period for all awards granted after the date of ~~$100~~adoption,~~993~~ and for the ~~six~~unvested ~~month~~portion ~~period~~of ~~ended~~previously 31granted ~~December~~awards ~~2012~~that ~~(31~~remain ~~December~~outstanding ~~2011~~ at –the ~~$81~~date of adoption. Accordingly,~~744,~~ ~~cumulative~~the -financial $statements for the periods prior to 1~~,953,041)~~ ~~and~~January ~~has~~2006 ~~working~~have ~~capital~~not ofbeen ~~$6,331~~restated to reflect the fair value at method 31of ~~December~~expensing ~~2012~~share-based ~~(30~~compensation. ~~June~~The ~~2012~~adoption –of ASC 718 does not change the way the Company accounts for share-based payments to ~~working~~ non-employees, ~~capital~~with ~~deficit~~guidance ofprovided ~~$11~~by ASC 505-50,~~570)~~ "Equity-Based Payments to Non-Employees".

~~Management cannot provide~~ ~~assurance~~ Comparative ~~that the Company will ultimately achieve profitable operations or~~figures become cash flow positive, or raise additional debt and/or equity capital. Management believes that the Company’s capital resources should be adequate to continue operating and maintaining its business strategy during the fiscal year ending 30 June 2013. However, if the Company is unable to raise additional capital in the near future, due to the Company’s liquidity problems, management expects that the Company will need to curtail operations, liquidate assets, seek additional capital on less favorable terms and/or pursue other remedial measures. These interim consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

~~At 31 December 2012, the~~ ~~Company~~ Certain ~~has~~comparative ~~suffered~~figures ~~losses~~have ~~from~~been ~~development~~adjusted ~~stage activities~~ to ~~date. Although~~conform ~~management is currently attempting~~ to ~~implement its business plan, and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful. These factors raise substantial doubt about~~ the ~~ability~~current ofperiod's ~~the Company to continue as a going concern~~presentation. ~~The interim consolidated financial~~ ~~statements do not include any adjustments that might result from the outcome of this uncertainty.~~

2 3. ~~Significant~~ Recent Accounting ~~Policies~~Pronouncements

In March 2013, Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-05, "Foreign Currency Matters ". The amendments in this update resolve the diversity in practice about whether Subtopic 810-10, "Consolidation - Overall", or Subtopic ~~following~~ 830-30, is"Foreign aCurrency ~~summary~~Matters - Translation of ~~significant~~Financial ~~accounting~~Statements", ~~policies~~applies ~~used~~to inthe release of the cumulative translation adjustment into ~~preparation~~ net income when a parent either sells a part or all of ~~these~~its ~~interim~~investment ~~consolidated~~in ~~financial~~a ~~statements.~~foreign

~~Basis of presentation~~ 10

~~These interim consolidated~~ ~~financial~~ Molecular ~~statements~~Pharmacology ~~have~~(USA) ~~been~~Limited (A ~~prepared~~Development inStage ~~accordance with accounting~~Company) ~~principles generally~~ ~~accepted~~Notes into ~~the~~Interim ~~United States~~Consolidated ofFinancial ~~America~~Statements ("Expressed in U.S. ~~GAAP"~~Dollars) ~~applicable~~ ~~for a development stage company for financial information and are expressed in~~(Unaudited) ~~U.S.~~31 ~~dollars.~~ March 2013

~~Principles~~ entity or no longer holds a controlling financial interest in a subsidiary or group of ~~consolidation~~assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a foreign entity. In addition, the amendments in this update resolve the diversity in practice for the treatment of business combinations achieved in stages (sometimes also referred to as step acquisitions) involving a foreign entity. ASU No. 2013-05 will be effective for fiscal years, and interim periods within those years, beginning after 15 December 2013, with early adoption permitted, and should be applied retrospectively to all prior periods presented. The Company does not expect the adoption of this update will have a material effect on its consolidated financial statements.

~~These~~ In ~~interim~~February ~~consolidated~~2013, FASB issued ASU No. 2013-04, "Liabilities". This update requires an entity to measure obligations resulting from joint and ~~financial~~ several ~~statements~~liability ~~include~~arrangements for which the ~~accounts~~total amount of ~~MPLA~~the ~~since~~obligation ~~its~~within ~~incorporation~~the onscope ~~14 July~~of ~~2004~~this ~~and~~guidance is fixed at the reporting date, as the ~~Company~~ sum ~~since~~of: (1) the ~~reverse~~amount ~~acquisition~~the reporting entity agreed to pay on 8the ~~May~~basis ~~2006~~of ~~(Note~~its 1arrangement among its co-obligors and (2) any additional amount the reporting entity expects to pay on behalf of its co-obligors. ~~All~~ ~~intercompany~~ASU ~~balances~~No. 2013-04 will be effective for fiscal years, and interim periods within those ~~transactions~~ years, beginning after 15 December 2013, with early adoption permitted. The Company does not expect the adoption of this update will have ~~been~~a ~~eliminated~~material effect on its consolidated financial statements.

~~Cash~~ In February 2013, FASB issued ASU No. 2013-02, "Comprehensive Income". The amendments in this update do not change the current requirements for reporting net income or other comprehensive income in the financial statements. However, an entity is required to provide information about the amounts reclassified out of accumulated other comprehensive income by component and ~~cash~~to ~~equivalents~~present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about those amounts. ASU No. 2013-02 will be effective prospectively for reporting periods beginning on or after 15 December 2012, with early adoption permitted. The Company does not expect the adoption of this update will have a material effect on its consolidated financial statements.

~~Cash~~ In January 2013, FASB issued ASU No. 2013-01, "Balance Sheet". The amendments in this update clarify that the scope of ASU 2011-11, "Disclosures about Offsetting Assets and ~~cash~~Liabilities," ~~equivalents~~applies ~~include~~to ~~highly~~derivatives ~~liquid~~accounted ~~investments~~for in accordance with ~~original~~Topic ~~maturities~~815, " Derivatives and Hedging," including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities of borrowing ~~three~~and ~~months~~securities lending transactions that are either offset in accordance with Section 210-20-45 or ~~less~~Section 815-10-45 or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2013-01 will be effective for fiscal years beginning on or after 1 January 2013 and interim periods within those annual periods, and to be applied retrospectively for all comparative periods presented. The Company does not expect the adoption of this update will have a material effect on its consolidated financial statements.

8 In July 2012, FASB issued ASU No. 2012-02, "Intangibles - Goodwill and Other". This update presents an entity with the option to first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30, " Intangibles - Goodwill and Other - General Intangibles Other than Goodwill". The more-likely-than-not threshold is defined as having a likelihood of more than fifty percent. ASU No. 2012-02 will be effective for annual and impairment tests

~~(A Development Stage~~ ~~Company)~~ 11

Molecular Pharmacology (USA) Limited (A Development Stage Company) Notes to Interim Consolidated Financial Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

~~(Expressed~~ performed infor Ufiscal years beginning after 15 September 2012, with early adoption permitted.S. ~~Dollars)~~The Company does not expect the adoption of this update will have a material effect on its consolidated financial statements.

~~(Unaudited)~~ 4. Equipment

31 December 2012

		Accumulated amortization		Net Book Value
	Cost	Accumulated amortization		As at 31 March 2013	As at 30 June 2012 (Audited)
	$		$	$	$

Office equipment	864		712	152	1,159

~~Segments~~ During ofthe annine ~~enterprise~~month period ended 31 March 2013, the total additions to equipment were $Nil (31 March 2012 - $Nil) and ~~related~~equipment ~~information~~with a carrying value of $823 was written off (31 March 2012 - $Nil).

~~ASC 280, "Segment Reporting"~~ establishes guidance for the way that public companies report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements issued to the public 5. It ~~also establishes~~ ~~standards~~ Accounts ~~for~~Payable ~~disclosures regarding products~~ and ~~services,~~Accrued ~~geographic areas and~~Liabilities major customers. ASC 280 defines operating segments as components of a company about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance.

~~Foreign~~ Accounts ~~currency~~payable and accrued liabilities are non-interest bearing, unsecured and have settlement dates within one year. ~~translation~~

~~The Company’s functional and reporting currency is U.S.~~ ~~dollars~~ 6. ~~The~~ ~~interim~~ ~~consolidated~~ Due ~~financial statements of the Company are translated~~ to ~~U.S.~~Related ~~dollars in~~Parties ~~accordance with ASC 830, "Foreign Currency Matters". Assets~~ and ~~liabilities~~ ~~denominated~~Related inParty ~~foreign currencies are translated using the exchange~~Transactions rate prevailing at the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the period. Translation adjustments resulting from this process are charged or credited to other comprehensive income. The Company has not, to the date of these interim consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

~~Equipment~~ As at 31 March 2013, the amount due to related parties includes $1,000 payable to a director of the Company (30 June 2012 - $1,000). This balance is non-interest bearing, unsecured and has no fixed terms of repayment.

~~Equipment~~ is As ~~recorded~~ at ~~cost~~31 ~~and~~March ~~amortization~~2013, isthe ~~provided~~amount ~~over~~due ~~its~~to ~~estimated~~related ~~economic life~~parties atincludes $11,208 payable to a company owned by a director of the ~~rate~~Company or an officer of PharmaNet ~~15%~~(30 ~~declining~~June ~~balance~~2012 - $22,846). This balance is non-interest bearing, unsecured and has no fixed terms of repayment.

~~Income~~ As ~~taxes~~at 31 March 2013, the amount due to related parties includes $477 payable to a company owned by a director of the Company or an officer of PharmaNet (30 June 2012 - $1,101). This balance is non-interest bearing, unsecured and has no fixed terms of repayment.

~~Deferred income taxes are reported for timing~~ ~~differences~~ As ~~between~~at ~~items~~31 ofMarch ~~income~~2013, ~~or expense reported in~~ the ~~interim consolidated~~amount ~~financial~~due ~~statements~~to ~~and~~related ~~those~~parties ~~reported~~includes ~~for income tax purposes in accordance with ASC 740~~$8,570 ~~"Income~~payable ~~Taxes", which~~to ~~requires~~a ~~the~~company ~~use~~owned ofby ~~the~~a ~~asset/liability~~director ~~method~~ of ~~accounting for income taxes. Deferred income taxes and tax benefits are recognized for~~ the ~~future~~Company ~~tax~~or ~~consequences~~an ~~attributable~~officer ~~to differences between the financial statement carrying amounts~~ of ~~existing assets~~ ~~and~~ PharmaNet ~~liabilities~~(30 ~~and~~June ~~their~~2012 ~~respective~~- ~~tax bases~~$7,741). ~~and~~This ~~for~~balance ~~tax~~is ~~losses and credit carry~~non-~~forwards. Deferred~~interest ~~tax~~bearing, ~~assets and~~unsecured liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company provides for deferred taxes for the estimated future tax effects attributable to temporary differences and ~~carry-forwards~~has ~~when~~no ~~realization~~fixed isterms ~~more~~of ~~likely than not~~repayment.

~~Comprehensive~~ As ~~income~~at 31 March 2013, the amount due to related parties includes $2,262,319 payable to PharmaNet (~~loss~~30 June 2012 - $2,036,760). This balance is non-interest bearing, unsecured and has no fixed terms of repayment.

~~ASC 220, "Comprehensive Income", establishes~~ ~~standards for the reporting and disclosure of comprehensive income (loss) and~~ 12 its components in the financial statements. As at 31 December 2012, the Company has items that represent a comprehensive loss and, therefore, has included a schedule of comprehensive loss in the interim consolidated financial statements.

9 Molecular Pharmacology (USA) Limited (A Development Stage Company) Notes to Interim Consolidated Financial Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

(A During ~~Development~~the ~~Stage~~ nine month period ended 31 March 2013, a director of the Company or an officer of PharmaNet, and their controlled entities were paid or accrued consulting fees of $25,804 (31 March 2012 - $35,999, cumulative - $888,400).

~~Notes~~ During tothe ~~Interim~~nine ~~Consolidated~~month ~~Financial~~period ~~Statements~~ended 31 March 2013, a director of the Company or an officer of PharmaNet, and their controlled entities were paid or accrued consulting and/or administrative fees of $18,023 (31 March 2012 - $15,172, cumulative - $61,369) by the Company, which have been recorded in office and miscellaneous expense.

During the nine month period ended 31 March 2013, a director of the Company or an officer of PharmaNet, and their controlled entities were paid or accrued consulting fees of $67,754 (~~Expressed~~31 inMarch ~~U.S.~~2012 ~~Dollars~~- $Nil, cumulative - $89,039) by the Company.

During the nine month period ended 31 March 2013, a director of the Company or an officer of PharmaNet, and their controlled entities were paid or accrued consulting fees of $Nil (~~Unaudited~~31 March 2012 - $33,260; cumulative - $41,928) by the Company.

During the nine month period ended 31 March 2013, a director of the Company or an officer of PharmaNet, and their controlled entities were paid or ~~December~~ accrued office and miscellaneous expenses of $Nil (31 March 2012 - $Nil; cumulative - $80,468) by the Company.

~~Basic~~ During the nine month period ended 31 March 2013, a director of the Company or an officer of PharmaNet, and ~~diluted~~their ~~net~~controlled ~~income~~entities were paid or accrued office and miscellaneous expenses of $Nil (~~loss)~~31 ~~per~~March ~~share~~2012 - $Nil, cumulative - $4,481).

~~The~~ During ~~Company~~the ~~computes~~nine ~~net~~month ~~income (loss)~~period ~~per~~ended ~~share~~31 inMarch ~~accordance with ASC 260~~2013, ~~"Earnings~~a ~~per~~director ~~Share". ASC 260 requires presentation~~ of ~~both basic~~the ~~and~~Company ~~diluted~~or ~~earnings~~an ~~per~~officer ~~share ("EPS") on the face~~ of ~~the income~~PharmaNet, ~~statement. Basic~~and ~~EPS~~their ~~is computed~~controlled byentities ~~dividing~~were ~~net~~paid ~~income (loss) available to common shareholders~~or ~~(numerator)~~ accrued byrental ~~the~~fees ~~weighted average number~~ of ~~shares~~$Nil ~~outstanding~~ (~~denominator) during~~31 ~~the~~March ~~period. Diluted~~2012 ~~EPS gives~~- ~~effect~~$Nil; tocumulative ~~all potentially dilutive common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if~~-~~converted~~ ~~method. In computing diluted EPS~~$12,987) ~~the~~by ~~average stock price for~~ the ~~period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants~~Company. ~~Diluted EPS~~ ~~excludes all potentially dilutive shares if their effect is anti-dilutive.~~

~~Stock-based~~ Transactions ~~compensation~~comprising the amount due to PharmaNet are as follows:

Effective 1 January 2006, the Company adopted the provisions of ASC 718, "Compensation – Stock Compensation", which establishes accounting for equity instruments exchanged for employee services. Under the provisions of ASC 718, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employees’ requisite service period (generally the vesting period of the equity grant). The Company adopted ASC 718 using the modified prospective method, which requires the Company to record compensation expense over the vesting period for all awards granted after the date of adoption, and for the unvested portion of previously granted awards that remain outstanding at the date of adoption. Accordingly, the financial statements for the periods prior to 1 January 2006 have not been restated to reflect the fair value method of expensing share-based compensation. The adoption of ASC 718 does not change the way the Company accounts for share-based payments to non-employees, with guidance provided by ASC 505-50, "Equity-Based Payments to Non-Employees".

	For the nine month period ended 31 March 2013	For the year ended 30 June 2012 (Audited)
	$	$

Opening balance, beginning of period	2,036,760	1,896,625
Funds transferred to the Company by PharmaNet	187,165	170,790
Expenses paid by PharmaNet on behalf of the Company	85	33,852
Foreign currency translation adjustment	38,309	(64,507)


Balances, end of period	2,262,319	2,036,760

~~Comparative figures~~ 13

~~Certain~~Molecular ~~comparative~~Pharmacology ~~figures~~(USA) Limited ~~have~~ (A ~~been~~Development ~~adjusted~~Stage Company) Notes to ~~conform~~Interim toConsolidated ~~the~~Financial ~~current~~Statements ~~period’s~~ (Expressed ~~presentation~~in U.S. Dollars) (Unaudited) 31 March 2013

~~3. Changes~~ The inaverage ~~Accounting~~amount ~~Policies~~due to PharmaNet for the nine month period ended 31 March 2013 was $2,137,272 (30 June 2012 - $1,816,134).

~~In December 2011, the Financial~~ ~~Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No~~ 7. ~~2011-12, "Comprehensive~~ ~~Income". This~~ Capital ~~ASU~~Stock effectively defers the changes in ASU No. 2011-05, "Presentation of Comprehensive Income" that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. ASU No. 2011-12 should be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after 15 December 2011. As ASU No. 2011-12 relates only to the presentation of Comprehensive Income, the adoption of this update did not have a material effect on the Company’s interim consolidated financial statements.

10 Authorized

~~Molecular~~ The ~~Pharmacology (USA)~~total ~~Limited~~authorized capital is 300,000,000 common shares with a par value of $0.001 per common share.

(A Issued ~~Development~~and ~~Stage~~outstanding ~~Company)~~

~~Notes~~ The tototal ~~Interim~~issued ~~Consolidated~~and ~~Financial~~outstanding ~~Statements~~capital stock is 111,553,740 common shares with a par value of $0.001 per common share.

~~(Expressed in U~~ 8.S. ~~Dollars)~~ Income Taxes

~~(Unaudited)~~ Income tax expense differs from the amount that would result from applying the federal income tax rate to earnings before income taxes. These differences result from the following items:

31 December 2012

	For the nine month period ended 31 March 2013	For the nine month period ended 31 March 2012
	$	$

Loss before income taxes	(152,589)	(112,554)


Federal income tax rates	34.0%	34.0%


Income tax recovery based on the above rates	(51,880)	(38,268)


Increase (decrease) due to:
Difference between U.S. and foreign tax rates	4,997	3,440
Change in valuation allowance	54,509	26,490
Foreign exchange and other	(7,626)	8,338


Income tax expense	-	-

~~In June 2011, the FASB issued~~ ~~ASU No. 2011-05, "Presentation of Comprehensive~~ 14 Income". This ASU presents an entity with the option to present the total of comprehensive income, the components of net income, and the component of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. This update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity (deficiency). The amendments in this update do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. ASU No. 2011-05 should be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after 15 December 2011. As ASU No. 2011-05 relates only to the presentation of comprehensive income, the adoption of this update did not have a material effect on the Company’s interim consolidated financial statements.

~~In May 2011, the FASB issued~~ ~~ASU~~ Molecular ~~No.~~Pharmacology ~~2011-04,~~(USA) ~~"Fair Value Measurement"~~Limited to (A ~~amend~~Development ~~the~~Stage ~~accounting and disclosure requirements on fair value~~Company) ~~measurements. This ASU limits the~~ ~~highest-and-best-use~~Notes ~~measure~~ to ~~nonfinancial~~Interim ~~assets,~~Consolidated ~~permits~~Financial ~~certain~~Statements ~~financial~~ ~~assets~~(Expressed ~~and liabilities with offsetting positions~~ in ~~market or counterparty credit risks to be measured at a net basis, and provides guidance on the applicability of premiums and discounts~~U. Additionally, this update expands the disclosure on Level 3 inputs by requiring quantitative disclosure of the unobservable inputs and assumptions, as well as description of the valuation processes and the sensitivity of the fair value to changes in unobservable inputsS. ~~ASU~~ ~~No. 2011-04 is to be applied~~Dollars) ~~prospectively and is effective during interim and annual periods beginning~~(Unaudited) ~~after~~31 15March ~~December 2011. The adoption of this update did not have a material effect on the Company’s interim consolidated financial statements.~~2013

4. ~~Equipment~~ The composition of the Company's deferred tax assets as at 31 March 2013 and 30 June 2012 are as follows:

Accumulated amortization Net Book Value Cost As at 31 December 2012 As at 30 June 2012 (Audited) $ $ $ $ Office equipment 864 698 166 1,159

	As at 31 March 2013	As at 30 June 2012 (Audited)
	$	$

Net income tax operating loss carryforward	2,279,606	2,101,601


Deferred tax assets	715,257	660,748
Less: Valuation allowance	(715,257)	(660,748)


Net deferred tax asset	-	-

~~During the six month~~ ~~period~~ The ~~ended~~Company 31has ~~December~~non-capital ~~2012,~~loss ~~the~~carry-forwards ~~total~~of ~~additions~~approximately to$2,279,606 ~~equipment~~that ~~were~~may ~~$Nil~~be ~~(31 December~~available ~~2011~~for –tax ~~$Nil)~~purposes. ~~and~~The ~~equipment~~loss ~~with~~carry-forwards aare ~~net~~all ~~book~~in respect ~~value~~to ofU.S. ~~$823~~and ~~was written~~Australian ~~off~~operations ~~(31~~and ~~December~~expire ~~2011~~as ~~- $Nil).~~follows:

5. Accounts Payable and Accrued Liabilities

	$

2022	20,402
2023	46,992
2024	27,717
2025	14,187
2026	261,311
2027	111,155
2028	75,463
2029	57,882
2030	48,765
2031	43,836
2032	49,005
2033	27,669
No expiry	1,495,222

	2,279,606

~~Accounts~~ A ~~payable~~full ~~and~~valuation ~~accrued~~allowance ~~liabilities~~has ~~are non~~been recorded against the potential deferred tax assets associated with all the loss carry-~~interest~~forwards ~~bearing,~~as ~~unsecured~~their ~~and~~utilization is ~~have~~not ~~settlement~~considered ~~dates~~more ~~within~~likely ~~one~~than ~~year~~not at this time.

11 9. Distribution Agreement

~~Molecular~~ The ~~Pharmacology~~Company has the exclusive distribution rights, through MPLA, to distribute, market, promote, detail, advertise and sell certain Licensed Products, with metallo-polypeptide analgesic as an active ingredient, in the United States (~~USA~~excluding its territories and possessions) ~~Limited~~(Note 1). If, and when necessary, the Company will

~~(A Development Stage~~ ~~Company)~~ 15

Molecular Pharmacology (USA) Limited (A Development Stage Company) Notes to Interim Consolidated Financial Statements (Expressed in U.S. Dollars) (Unaudited) 31 March 2013

~~(Expressed~~ obtain all necessary regulatory approvals for the Licensed Products and incorporate the Licensed Products in ~~U.S.~~the ~~Dollars)~~United States.

~~(Unaudited)~~ 10. Supplemental Disclosures with Respect to Cash Flows

31 December 2012

	For the period from the date of inception on 14 July 2004 to 31 March 2013		For the nine month period ended 31 March 2013	For the nine month period ended 31 March 2012
		$	$	$

Cash paid during the period for interest		-	-	-
Cash paid during the period for income taxes		-	-	-
Common shares issued on acquisition of MPLA		16,236	-	-
Amounts receivable acquired on recapitalization of the Company		2,226	-	-
Accounts payable assumed on recapitalization of the Company		54,624	-	-
Due to related party assumed on recapitalization of the Company		1,000	-	-

6 11. ~~Due~~ to Segmented ~~Related Parties and Related Party Transactions~~Information

~~As at 31 December 2012, the amount due to related parties includes~~ ~~$1,000~~ Details ~~payable~~on to a ~~director~~geographic ofbasis ~~the~~as ~~Company~~at ~~(30~~and ~~June~~for ~~2012~~the –nine ~~$1,000). This~~month ~~balance~~period isended ~~non-interest~~31 ~~bearing, unsecured~~March ~~and~~2013 ~~has~~are noas ~~fixed terms of repayment.~~follows:

As at 31 December 2012, the amount due to related parties includes $2,598 payable to a company owned by a director of the Company or an officer of PharmaNet (30 June 2012 – $22,846). This balance is non-interest bearing, unsecured and has no fixed terms of repayment.

	Australia	U.S.A.	Total
	$	$	$

Assets	17,611	-	17,611

Loss for the period	(124,920)	(27,669)	(152,589)

~~As at 31 December 2012, the amount due to related parties includes~~ ~~$1,062~~ Details ~~payable~~on to a ~~company~~geographic ~~owned~~basis byas aat ~~director~~and offor the ~~Company~~year orended ~~an officer of PharmaNet (~~30 June 2012 –are ~~$1,101). This balance~~as ~~is non-interest bearing, unsecured and has no fixed terms of repayment.~~follows:

As at 31 December 2012, the amount due to related parties includes $Nil payable to a company owned by a director of the Company or an officer of Pharmanet (30 June 2012 - $7,741). This balance is non-interest bearing, unsecured and has no fixed terms of repayment.

	Australia	U.S.A.	Total
	$	$	$

Assets	8,841	-	8,841

Loss for the year	(130,377)	(49,005)	(179,382)

~~As at 31 December 2012, the amount due to related parties includes~~ ~~$2,215,452 payable to PharmaNet (30 June 2012 – $2,036,760). This balance is non-interest bearing,~~ 16 ~~unsecured and has no fixed terms of repayment.~~

~~During~~ Molecular ~~the~~Pharmacology ~~six~~(USA) ~~month~~Limited (A ~~period~~Development ~~ended~~Stage ~~31 December 2012, a director of~~Company) ~~the~~ Notes ~~Company~~to orInterim anConsolidated ~~officer~~Financial ofStatements ~~PharmaNet, and their controlled entities were paid~~ or(Expressed ~~accrued~~in ~~consulting~~U.S. ~~fees of $18,015~~ Dollars) (Unaudited) 31 ~~December~~March ~~2011 – $27,141; cumulative - $880,611).~~2013

~~During~~ Details ~~the~~on ~~six month period ended 31 December 2012,~~ a ~~director~~geographic ~~of the~~basis ~~Company~~as orat ~~an officer of PharmaNet,~~ and ~~their~~for ~~controlled~~the ~~entities~~nine ~~were~~month ~~paid or~~period ~~accrued~~ended ~~consulting and/or administrative fees of $13,558 (~~31 ~~December~~ ~~2011~~March –2012 ~~$9,772;~~are ~~cumulative~~as ~~- $56,904) by the Company.~~follows:

During the six month period ended 31 December 2012, a director of the Company or an officer of PharmaNet, and their controlled entities were paid or accrued consulting fees of $44,285 (31 December 2011 - $32,992; cumulative - $65,570) by the Company.

	Australia	U.S.A.	Total
	$	$	$

Assets	19,527	500	20,027

Loss for the period	(86,000)	(26,554)	(112,554)

~~During the six month period ended 31 December 2012, a director of~~ ~~the~~ 12. ~~Company or an officer of PharmaNet, and their controlled entities were paid~~ or Financial ~~accrued office and miscellaneous expenses of $Nil (31 December 2011 - $Nil;~~Instruments ~~cumulative - $4,481) by the Company.~~

~~During~~ A ~~the~~fair ~~six~~value ~~month~~hierarchy ~~period~~was ~~ended~~established 31that ~~December~~prioritizes ~~2012,~~the ainputs ~~director~~used ~~of the~~to ~~Company~~measure orfair anvalue. ~~officer~~The ofhierarchy ~~PharmaNet,~~gives ~~and~~the ~~their~~highest ~~controlled~~priority ~~entities~~to ~~were paid~~unadjusted or quoted ~~accrued~~prices ~~consulting~~in ~~fees~~active ofmarkets ~~$Nil~~for ~~(31~~identical ~~December~~assets ~~2011~~or –liabilities ~~$Nil;~~(Level ~~cumulative –~~1 ~~$41,928~~measurement) byand the ~~Company.~~lowest priority to unobservable inputs (Level 3 measurements).

~~During the six month period ended 31 December 2012, a director of~~ ~~the~~ The ~~Company~~fair orvalues ~~an officer~~ of ~~PharmaNet,~~the ~~and~~financial ~~their~~instruments ~~controlled entities~~ were ~~paid or~~determined ~~accrued~~using ~~office~~the ~~and~~following ~~miscellaneous~~input ~~expenses~~levels ofand ~~$Nil~~valuation ~~(31 December~~techniques: ~~2011 – $Nil; cumulative – $80,468) by the Company.~~

12 Level 1: classification is applied to any asset or liability that has a readily available quoted market price from an active market where there is significant transparency in the executed/quoted price.

~~Molecular~~ Level ~~Pharmacology~~2: classification is applied to assets and liabilities that have evaluated prices where the data inputs to these valuations are observable either ~~(USA)~~ directly ~~Limited~~or indirectly, but do not represent quoted market prices from an active market.

(A Level ~~Development~~3: ~~Stage~~classification is applied to assets and liabilities when prices are not derived from existing market data and requires us to develop our own ~~Company)~~ assumptions about how market participants would price the asset or liability.

~~Notes~~ The carrying values of cash and cash equivalents and accounts payable approximate fair value due to ~~Interim~~the ~~Consolidated~~short ~~Financial~~term ~~Statements~~maturity of these financial instruments.

~~(Expressed~~ Credit ~~in U.S. Dollars)~~ Risk

~~(Unaudited)~~ Financial instruments that potentially subject the Company to credit risk consists of cash and cash equivalents. The Company deposits cash and cash equivalents with high credit quality financial institutions as determined by rating agencies. As a result, credit risk is considered insignificant.

31 ~~December~~ Currency ~~2012~~Risk

~~During~~ The ~~the~~Company's ~~six~~subsidiary ~~month~~is ~~period~~located ~~ended~~in 31Australia. ~~December~~As ~~2012~~a result, a ~~director~~significant portion of the Company's ~~or an officer of PharmaNet~~assets, liabilities and ~~their~~expenses ~~controlled entities~~ were ~~paid~~denominated or in ~~accrued~~the ~~rental~~Australian ~~fees~~dollar ofand ~~$Nil~~were ~~(31~~therefore ~~December~~subject ~~2011~~to –fluctuation ~~$Nil;~~in ~~cumulative~~exchange ~~– $12,987) by the Company~~rates.

~~Transactions comprising the amount due to PharmaNet are as~~ ~~follows:~~ 17

Molecular ~~For~~Pharmacology ~~the six month period ended 31 December 2012 For the year ended 30 June 2012~~ (~~Audited~~USA) Limited (A ~~$ $~~ Development Stage Company) Notes ~~Opening balance, beginning of period 2,036,760 1,896,625 Funds transferred~~ to ~~the~~Interim ~~Company~~Consolidated byFinancial ~~PharmaNet~~Statements ~~147,546 170,790~~ (Expressed in ~~Expenses~~U.S. ~~paid~~Dollars) ~~by PharmaNet on behalf of the~~ ~~Company 85 33,852 Foreign currency translation adjustment 31,061~~ (~~64,507~~Unaudited) 31 March ~~Balances, end of period 2,215,452 2,036,760~~ 2013

The ~~average~~Company's ~~amount~~objective ~~due~~in managing its foreign currency risk is to ~~PharmaNet~~minimize ~~for~~its net exposures to foreign currency cash flows by holding most of its cash and cash equivalents in Australian dollars. The Company monitors and forecasts the ~~six~~values ~~month~~of ~~period~~net ~~ended~~foreign currency cash flow and balance sheet 31 exposures ~~December~~and ~~2012~~from ~~was~~time ~~$2,106,502~~to ~~(30~~time ~~June~~could ~~2012~~authorize -the ~~$1,816,134)~~use of derivative financial instruments such as forward foreign exchange contracts to economically hedge a portion of foreign currency fluctuations.

7 If the Australian dollar had weakened (strengthened) against the U. ~~Capital~~S. dollar, with all other variables held constant, by 100 basis points (1%) at ~~Stock~~ period end, the impact on net loss and other comprehensive loss would have been $22,651 lower ($22,651 higher).

~~Authorized~~ The Company has not, to the date of these interim consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

~~The total authorized capital is 300,000,000 common~~ ~~shares~~ Interest ~~with~~Rate ~~a par value of $0.001 per common share.~~Risk

~~Issued~~ The Company has non-interest paying cash balances and ~~outstanding~~no interest-bearing debt. It is management's opinion that the Company is not exposed to significant interest risk arising from these financial instruments.

~~The total issued and outstanding capital stock is 111,553,740~~ ~~common~~ Liquidity ~~shares with a par value of $0.001 per common share.~~Risk

13 Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with its financial liabilities. The Company is reliant upon PharmaNet as its sole source of cash. The Company has received financing from PharmaNet in the past; however, there is no assurance that it will be able to do so in the future.

~~Molecular Pharmacology~~ ~~(USA) Limited~~ 18

(AItem Development2. Stage Company)Management's Discussion and Analysis of Financial Condition and Results of Operations.

~~Notes~~ THE toFOLLOWING ~~Interim~~ANALYSIS ~~Consolidated~~OF ~~Financial~~THE ~~Statements~~RESULTS OF OPERATIONS AND FINANCIAL CONDITION OF MOLECULAR USA FOR THE THIRD QUARTER PERIOD ENDED MARCH 31, 2013 AND SHOULD BE READ IN CONJUNCTION WITH MOLECULAR USA'S INTERIM CONSOLIDATED FINANCIAL STATEMENTS, INCLUDING THE NOTES THERETO CONTAINED ELSEWHERE IN THE FORM 10-Q.

~~(Expressed~~ Our interim consolidated financial statements are stated in ~~U.S.~~United States Dollars) and are prepared in accordance with United States Generally Accepted Accounting Principles.

~~(Unaudited)~~ Overview

31 ~~December~~ We ~~2012~~were incorporated in the state of Nevada on May 1, 2002. Up until the fall of 2005, Molecular USA was in the business of mineral exploration and development of a mineral property.

8 On October 13, 2005, Molecular USA entered into a distribution and supply agreement with Molecular Pharmacology Pty. ~~Income~~ Ltd. (formerly Molecular Pharmacology ~~Taxes~~ Limited)("MPLA"). MPLA is incorporated under the laws of Australia and at the time was a wholly owned subsidiary company of PharmaNet Group Limited, an Australian company listed on the Australian Stock Exchange. Under the terms of the distribution and supply agreement, Molecular USA received the exclusive distribution rights to distribute, market, promote, detail, advertise and sell certain "Licensed Products", as defined in the agreement, with metallo-polypeptide analgesic as an active ingredient, in the United States (excluding its territories and possessions).

~~Income~~ On ~~tax~~May ~~expense~~9, ~~differs~~2006, Molecular USA announced that it has acquired 100% of the issued and outstanding share capital of MPLA. The transaction was originally ~~from~~ announced by Molecular USA in a press release dated November 29, 2005 and was subsequently approved by a majority of the ~~amount~~stockholders ~~that~~of ~~would~~the ~~result~~Company ~~from~~at ~~applying~~a stockholders meeting held on April 21, 2006. As a result of the ~~federal~~transaction, ~~income~~PharmaNet ~~tax~~Group ~~rate~~Limited to("PharmaNet"), the former parent ~~earnings~~ company ~~before~~of ~~income~~MPLA, ~~taxes~~now controls approximately 79% of Molecular USA's issued and outstanding share capital. ~~These~~ The transaction between the parties closed in ~~differences~~ escrow ~~result~~with ~~from~~an effective closing date of May 8, 2006. The business of MPLA is now the ~~following~~business ~~items:~~of Molecular USA.

Our ~~For~~Current ~~the~~ Business ~~six month~~ period ended 31 December 2012 For the three month period ended 31 December 2011 $ $ Loss before income taxes (100,993) (81,744) Federal income tax rates 34.0% 34.0% Income tax recovery based on the above rates (34,338) (27,793) Increase (decrease) due to: Difference between U.S. and foreign tax rates 3,254 2,837 Change in valuation allowance 37,579 12,368 Foreign exchange and other (6,495) 12,588 Income tax expense - -

~~The~~ Molecular USA through its wholly owned subsidiary MPLA is in the business of developing and commercializing a new analgesic and anti-inflammatory molecule ~~composition~~ known as Tripeptofen. Tripeptofen is likely to appear in a new group of products suitable for the ~~Company’s~~treatment ~~deferred~~of ~~tax~~common ~~assets~~every-day aspain. atAs 31an ~~December~~analgesic ~~2012~~ and anti-inflammatory 30drug, ~~June~~Tripeptofen ~~2012~~is ~~are~~unusual asdue ~~follows:~~to its rapid speed of action and its topical or rub-on application.

The Asmajority atof ~~31 December~~over-the-counter ~~2012 As~~anti-pain atand 30anti-inflammatory ~~June 2012 (Audited)~~ products sold ~~$ $~~ for the treatment of ~~Net~~acute ~~income~~localized ~~tax~~pain ~~operating~~are ~~loss~~based ~~carryforward 2,224,109 2,101,601~~ on non-steroidal anti-inflammatory drugs or ~~Deferred tax~~NSAIDs. ~~assets 698,327 660,748~~ The majority ~~Less: Valuation~~of ~~allowance (698,327) (660,748)~~ such products are slow ~~Net deferred~~acting ~~tax~~and ~~asset - -~~ provide only mild pain relief.

14 The NSAID group has come under additional pressure and increasing medical alarm, as many drugs in this class have been found to set-back the recovery of certain conditions and treatments for which they were marketed. Moreover, NSAIDs are associated with severe gastro-intestinal side-effects. This has left a niche in an industry under-served by new products and ingredients.

~~Molecular~~ MPLA's ~~Pharmacology~~business strategy is to exploit the fast and locally acting, low side effects, and recovery-enhancing properties of its new drug group and to market ~~(USA)~~ this ~~Limited~~as a new ingredient, enabling pharmaceutical companies to develop and market effective and safer products suited to a broad range of common everyday pain.

~~(A Development Stage~~ ~~Company)~~ 19

~~Notes~~ Licensed ~~to Interim Consolidated Financial Statements~~Products

~~(Expressed~~ Molecular USA has exclusive distribution rights to distribute, market, promote, advertise and sell certain "Licensed Products", with metallo-polypeptide analgesic and anti-inflammatory activity as an active ingredient, in ~~U.S.~~the ~~Dollars~~United States (excluding its territories and possessions) from its wholly owned subsidiary company MPLA.

~~(Unaudited)~~ The Licensed Products include all products in all dosage forms, formulations, line extensions and package configurations using or otherwise incorporating any aspect or production method of metallo-polypeptide analgesic and anti-inflammatory activity as an active ingredient marketed by MPLA or its affiliates under the trade name Tripeptofen or any other trade names or trademarks used by MPLA relating to the product and any improvements to such formulations or dosages as may hereafter be distributed by MPLA or its affiliates in the territory during the term of the distribution and supply agreement between Molecular USA and MPLA for the topical application for human use only, and specifically excludes:

31 ~~December~~ dermatological ~~2012~~or cosmetic use, or tissue repair or tissue regeneration effect;
~~The~~ ~~Company~~any ~~has~~use ~~non-capital loss~~or ~~carry-forwards~~application of ~~approximately~~the ~~$2,224,109~~Licensed ~~that~~Product ~~may~~in ~~be available for tax purposes. The loss carry~~non-~~forwards are~~human ~~all~~groups inor ~~respect~~species; ~~to U.S.~~ and ~~Australian operations and expire as follows:~~
$ Thermalife ~~2022 20~~cream,~~402~~ presently ~~2023 46,992~~ owned by ~~2024 27~~PharmaNet,~~717~~ the ~~2025 14,187~~ parent company ~~2026 261,311~~ of MPLA. 2027 111,155 2028 75,463 2029 57,882 2030 48,765 2031 43,836 2032 49,005 2033 20,640 No expiry 1,446,754 2,224,109

A ~~full valuation~~ All ~~allowance~~Licensed ~~has~~Products ~~been~~must ~~recorded~~first ~~against~~obtain regulatory clearance in the ~~potential~~United ~~deferred~~States ~~tax~~before ~~assets~~they may be marketed and sold by Molecular USA in that territory. ~~associated~~ Regulatory ~~with~~approval, ~~all~~commencement of the ~~loss~~Master ~~carry-forwards~~Drug asFile ~~their~~("MDF") ~~utilization~~and ismarket ~~not~~approval are the focus of an ongoing program expected to ~~considered~~ continue ~~more~~over ~~likely~~the ~~than~~next ~~not~~18 atto ~~this~~24 ~~time~~months.

9 MPLA has an exclusive license from Cambridge Scientific Pty Ltd. ~~Distribution~~ of Australia. This license is restricted to a "field of use" defined in the license ~~Agreement~~ documentation. Cambridge Scientific Pty Ltd. may grant other licenses to third parties outside the "field of use" the subject of the licenses granted to MPLA.

~~The Company has the exclusive distribution rights,~~ ~~through~~ Patents ~~MPLA,~~& ~~to distribute, market, promote, detail, advertise and sell~~Trademarks ~~certain Licensed Products, with metallo-polypeptide analgesic as an active~~ ingredient, in the United States (excluding its territories and possessions) (Note 1). If, and when necessary, the Company will obtain all necessary regulatory approvals for the Licensed Products and incorporate the Licensed Products in the United States.

15 Molecular USA and its subsidiary MPLA, regard their intellectual property rights, such as copyrights, trademarks, trade secrets, practices and tools, as important to the success of their company. To protect their intellectual property rights, Molecular USA relies on a combination of patent, trademark and copyright law, trade secret protection, confidentiality agreements and other contractual arrangements with their employees, affiliates, clients, strategic partners, acquisition targets and others. Effective patent, trademark, copyright and trade secret protection may not be available in every country in which the combined company intends to offer its products. The steps taken by Molecular USA and MPLA to protect their intellectual property rights may not be adequate. Third parties may infringe or misappropriate the combined company's intellectual property rights or the combined company may not be able to detect unauthorized use and take appropriate steps to enforce its rights. In addition, other parties may assert infringement claims against the combined company. Such claims, regardless of merit, could result in the expenditure of significant financial and managerial resources. Further, an increasing number of patents are being issued to third parties regarding these processes. Future patents may limit the combined company's ability to use processes covered by such patents or expose the combined company to claims of patent infringement or otherwise require the combined company to seek to obtain related licenses. Such licenses may not be available on acceptable terms. The failure to obtain such licenses on acceptable terms could have a negative effect on the combined company's business.

~~Molecular~~ To ~~Pharmacology~~protect (their intellectual property rights, MPLA relies on a combination of license and patent applications held by Cambridge Scientific Pty Ltd which includes "Analgesic and Anti-Inflammatory Composition" comprising USA) ~~Limited~~patent application in completion plus PCT Provisional Specification having the same name designated as Serial No. 11/059580. These patent applications embody all the current Analgesic and Anti-inflammatory assets. MPLA will also rely on the exclusive nature of its license, trademark and copyright law, trade secret protection, confidentiality agreements and other contractual arrangements as it may execute from time to time.

(A Management ~~Development~~of ~~Stage~~Molecular ~~Company)~~USA and MPLA believes that MPLA's products, trademarks, and other proprietary rights do not infringe on the proprietary rights of third parties.

~~Notes to~~ ~~Interim Consolidated Financial Statements~~ 20

~~(Expressed in~~ ~~U.S. Dollars)~~ Marketing

~~(Unaudited)~~ Molecular USA plans to market its Licensed Products, when approved, through existing pharmaceutical distributors and by collaborative dealings with major companies active in the United States and Europe.

31 In ~~December~~addition, ~~2012~~Molecular USA plans to explore opportunities for direct sales, out-licensing and the integration of the company's proprietary anti-inflammatory and analgesic components in products already distributed through various international markets.

~~10.~~ ~~Supplemental Disclosures~~ Molecular ~~with~~USA ~~Respect~~expects tothat ~~Cash~~these ~~Flows~~activities may even help fund the development costs of the Licensed Products in the United States.

Manufacturing ~~For~~& ~~the~~ Supply ~~period from~~ the date of inception on 14 July 2004 to 31 December 2012 For the three month period ended 31 December 2012 For the three month period ended 31 December 2011 For the six month period ended 31 December 2012 For the six month period ended 31 December 2011 $ $ $ $ $ Cash paid during the period for interest - - - - - Cash paid during the period for income taxes - - - - - Common shares issued on acquisition of MPLA 16,236 - - - - Amounts receivable acquired on recapitalization of the Company 2,226 - - - - Accounts payable assumed on recapitalization of the Company 54,624 - - - - Due to related party assumed on recapitalization of the Company 1,000 - - - -

16 Molecular USA and MPLA have no manufacturing facilities. MPLA is required to supply Molecular USA with all Licensed Products under the distribution and supply agreement entered into by the parties in October 2005. It is likely MPLA will enter into arrangements with various Good Manufacturing Practice (" GMP") certified formulation and manufacturers of the Licensed Products for clinical trial and sales purposes. These formulations and the manufacturing facilities must comply with regulations and current good laboratory practices (or CGLPs), and current GMPs, enforced by the Food and Drug Administration ("FDA"). Molecular USA plans to continue MPLA's practice to outsource formulation and manufacturing for its clinical trials and potential commercialization after the acquisition of MPLA by Molecular USA.

Molecular ~~Pharmacology (~~USA) ~~Limited~~has not entered into any supply agreements.

~~(A Development Stage Company)~~ Competition

~~Notes~~ Molecular USA and MPLA compete in the segment of the pharmaceutical market that treats pain and inflammation, which is highly competitive. We face significant competition from most pharmaceutical companies as well as biotechnology companies that are also researching and selling products designed to ~~Interim~~ treat ~~Consolidated~~pain ~~Financial~~and ~~Statements~~inflammation. Many of our competitors have significantly greater financial, manufacturing, marketing and product development resources than we do. Large pharmaceutical companies in particular have extensive experience in clinical testing and in obtaining regulatory approvals for drugs. These companies also have significantly greater research capabilities than we do. In addition, many universities and private and public research institutes are active in neurological research, some in direct competition with us. These companies, as well as academic institutions, governmental agencies and other public and private organizations conducting research, also compete with Molecular USA and MPLA in recruiting and retaining highly qualified scientific personnel and consultants and may establish collaborative arrangements with competitors of Molecular USA.

~~(Expressed~~ Molecular USA's competition will be determined in ~~U.S.~~ ~~Dollars)~~part by the potential indications for which the MPLA's products are developed and ultimately approved by regulatory authorities.

~~(Unaudited)~~ Molecular USA knows of other companies and institutions dedicated to the development of anti-pain and anti-inflammatory pharmaceuticals similar to those being developed by MPLA and licensed to Molecular USA. Many of Molecular USA's competitors, existing or potential, have substantially greater financial and technical resources and therefore may be in a better position to develop, manufacture and market pharmaceutical products. Many of these competitors are also more experienced with regard to preclinical testing, human clinical trials and obtaining regulatory approvals. The current or future existence of competitive products may also adversely affect the marketability of Molecular USA's products.

~~31 December 2012~~ 21

~~11.~~ ~~Segmented~~ Governmental Regulation ~~Information~~

~~Details~~ on FDA aRegulation . ~~geographic~~Pharmaceutical ~~basis~~products asare atsubject to extensive pre- and ~~for~~post-marketing regulation by the ~~six~~FDA, ~~month~~including ~~period~~regulations ~~ended~~that 31govern ~~December~~the ~~2012~~testing, ~~are~~ manufacturing, assafety, ~~follows~~efficacy, labeling, storage, record-keeping, advertising and promotion of the products under the Federal Food, Drug and Cosmetic Act and the Public Health Services Act, and by comparable agencies in most foreign countries. The process required by the FDA before a new drug may be marketed in the U.S. generally involves the following: completion of pre-clinical laboratory and animal testing; submission of an investigational new drug application, ("IND"), which must become effective before clinical trials may begin; performance of adequate and well controlled human clinical trials to establish the safety and efficacy of the proposed drug's intended use; and approval by the FDA of a New Drug Application (" NDA").

The ~~Australia U~~activities required before a pharmaceutical agent may be marketed in the United States begin with pre-clinical testing.~~S.A. Total~~ Pre-clinical ~~$ $ $~~ tests include laboratory evaluation of potential products and animal studies to assess the potential safety and efficacy of the product and its formulations. The results ~~Assets 13~~ of these studies and other information must be submitted to the FDA as part of an IND application,~~681~~ which must be reviewed and approved by the FDA before proposed clinical testing can begin. Clinical trials involve the administration of the investigational new drug to healthy volunteers or to patients under the supervision of a qualified principal investigator. Clinical trials are conducted in accordance with Good Clinical Practices under protocols that detail ~~- 13~~ the objectives of the study,~~681~~ the parameters to ~~Loss~~be ~~for~~used to monitor safety and the ~~period~~efficacy criteria to be evaluated. Each protocol must be submitted to the ~~(80~~ FDA as part of the IND application. Further,~~353)~~ each clinical study must be conducted under the auspices of an independent institutional review board. The ~~(20~~ institutional review board will consider,~~640) (100~~ among other things,~~993)~~ ethical factors and the safety of human subjects.

~~Details~~ Typically, onhuman clinical trials are conducted in three phases that may overlap. In Phase 1, clinical trials are conducted with a ~~geographic~~small ~~basis~~number asof atsubjects to determine the early safety profile and ~~for~~pharmacology of the new therapy. In Phase 2, clinical trials are conducted with groups of patients afflicted with ~~year~~ a ~~ended~~specific 30disease ~~June~~in ~~2012~~order to determine preliminary efficacy, optimal dosages and expanded evidence of safety. In Phase 3, large scale, multicenter, comparative clinical trials are asconducted ~~follows:~~with patients afflicted with a target disease in order to provide enough data for the statistical proof of efficacy and safety required by the FDA and others.

The results of the pre-clinical and clinical testing, together with chemistry and manufacturing information, are submitted to the FDA in the form of an NDA ~~Australia U~~ for a pharmaceutical product in order to obtain approval to commence commercial sales.~~S.A. Total~~ In ~~$ $ $~~ responding to an NDA, ~~Assets 8~~the FDA may grant marketing approvals,~~841~~ ~~- 8~~ request additional information or further research,~~841~~ or deny the application if it determines that the application does not satisfy its regulatory approval ~~Loss~~ criteria. ~~for~~Patient-specific therapies may be subject to additional risk with respect to the ~~year~~regulatory review process. FDA approval for a pharmaceutical ~~(130~~ product may not be granted on a timely basis,~~377) (49~~ if at all,~~005)~~ or if granted may not cover all the clinical indications for which approval is sought or may ~~(179~~ contain significant limitations in the form of warnings,~~382)~~ precautions or contraindications with respect to conditions of use.

~~Details~~ Satisfaction onof aFDA ~~geographic~~premarket ~~basis~~approval asrequirements atfor ~~and~~new ~~for~~drugs typically takes several years, and the actual time required may vary substantially based ~~six~~ upon ~~month~~the type, complexity and novelty of the product or targeted disease. Government regulation may delay or prevent marketing of potential products for a considerable period ~~ended~~of 31time ~~December~~and ~~2011~~impose costly procedures upon our activities. Success in early stage clinical trials or with prior versions of products does not assure success in later stage clinical trials. Data obtained from clinical activities are asnot ~~follows:~~always conclusive and may be susceptible to varying interpretations that could delay, limit or prevent regulatory approval.

22 Australia U.S.A. Total $ $ $ Assets 20,450 1,376 21,826 Loss for the period (70,931) (10,813) (81,744)

12 Once approved, the FDA may withdraw the product approval if compliance with pre- and post-marketing regulatory standards is not maintained or if problems occur after the product reaches the marketplace. In addition, the FDA may require post-marketing studies, referred to as Phase 4 studies, to monitor the ~~Financial~~ effect ~~Instruments~~of an approved product, and may limit further marketing of the product based on the results of these post-market studies. The FDA has broad post-market regulatory and enforcement powers, including the ability to levy fines and civil penalties, suspend or delay issuance of approvals, seize or recall products, or withdraw approvals.

~~The~~ ~~carrying~~ Facilities ~~values~~used ofto ~~cash~~manufacture drugs are subject to periodic inspection by the FDA, Drug Enforcement Agency and ~~cash~~other ~~equivalents~~authorities where applicable, and must ~~accounts~~comply ~~payable~~with ~~approximate~~the FDA's Current Good Manufacturing regulations. Failure to comply with the statutory and regulatory requirements subjects the ~~fair~~ manufacturer ~~value~~to ~~due~~possible legal or regulatory action, such as suspension of manufacturing, seizure of product or voluntary recall of a product. Adverse experiences with the product must be reported to the ~~short~~FDA ~~term~~and ~~maturity~~could result in the imposition of ~~these~~market ~~financial~~restriction ~~instruments~~through labeling changes or in product removal. Product approvals may be withdrawn if compliance with regulatory requirements is not maintained or if problems concerning safety or efficacy of the product occur following approval.

~~Credit~~ ~~Risk~~ With respect to post-market product advertising and promotion, the FDA imposes a number of complex regulations on entities that advertise and promote pharmaceuticals, which include, among other things, standards and regulations relating to direct-to-consumer advertising, off-label promotion, industry sponsored scientific and educational activities, and promotional activities involving the Internet. The FDA has very broad enforcement authority under the Federal Food, Drug and Cosmetic Act, and failure to abide by these regulations can result in penalties including the issuance of a warning letter directing the entity to correct deviations from FDA standards, a requirement that future advertising and promotional materials be pre-cleared by the FDA, and state and federal civil and criminal investigations and prosecutions.

~~Financial~~ Research ~~instruments~~facilities ~~that potentially~~are subject ~~the~~to ~~Company~~various tolaws ~~credit~~and ~~risk~~regulations ~~consists~~regarding laboratory practices, the experimental use of ~~cash~~animals, and ~~cash~~the use and disposal ~~equivalents.~~ of ~~The~~hazardous ~~Company~~or ~~deposits~~potentially ~~cash~~hazardous ~~and~~substances ~~cash~~in ~~equivalents~~connection with ~~high~~the ~~credit quality~~research ~~financial~~in ~~institutions~~question. In each of these areas, as ~~determined~~above, bythe ~~rating~~government ~~agencies. As~~has abroad regulatory ~~result~~and enforcement powers, ~~credit~~including ~~risk~~the isability ~~considered~~to levy fines and civil penalties, suspend or delay issuance of approvals, seize or recall ~~insignificant~~ products, and withdraw approvals, any one or more of which could have a material adverse effect upon us.

~~Currency~~ Other ~~Risk~~Government Regulations . In addition to laws and regulations enforced by the FDA, research of Molecular USA's products in the United States are subject to regulation under National Institutes of Health guidelines, as well as under the Controlled Substances Act, the Occupational Safety and Health Act, the Environmental Protection Act, the Toxic Substances Control Act, the Resource Conservation and Recovery Act and other present and potential future federal, state or local laws and regulations, as research and development of its products involves the controlled use of hazardous materials, chemicals, viruses and various radioactive compounds.

~~The~~ In ~~Company’~~addition to regulations in the United States, Molecular USA's products are subject to a variety of foreign regulations governing clinical trials and ~~subsidiary~~ commercial issales ~~located~~and indistribution ~~Australia~~of its Licensed Products. AsWhether or not Molecular USA obtains FDA approval for a ~~result~~product, aMolecular ~~significant~~USA ~~portion~~or its subsidiaries must obtain approval of a product by the ~~Company’s~~ ~~assets,~~comparable ~~liabilities~~regulatory ~~and~~authorities ~~expenses~~of ~~were~~foreign countries before it can commence clinical trials or ~~denominated~~ marketing inof the ~~Australian~~product ~~dollar~~in ~~and~~those ~~were~~countries. ~~therefore~~The ~~subject~~approval process varies from country to ~~fluctuation~~country, and the time may be longer or shorter than that required in for ~~exchange~~FDA ~~rates~~approval. The requirements governing the conduct of clinical trials, product licensing, pricing and reimbursement vary greatly from country to country.

17 23

Sarbanes-Oxley Act of 2002 ~~Molecular~~ . On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002 ("SOA"). The SOA imposes a wide variety of new ~~Pharmacology~~requirements on both U.S. and non-U.S. companies, that file or are required to file periodic reports with the Securities and Exchange Commission (~~USA~~the " SEC") ~~Limited~~under the Securities Exchange Act of 1934. Many of these new requirements will affect Molecular USA and its board of directors. For instance, under the SOA, Molecular USA is required to:

(A form ~~Development~~an ~~Stage~~audit committee in compliance with the SOA; ~~Company)~~
~~Notes~~ have toMolecular ~~Interim~~USA's ~~Consolidated~~chief ~~Financial~~executive ~~Statements~~officer and chief financial officer certify its financial statements;
~~(Expressed~~ ensure Molecular USA's directors and senior officers forfeit all bonuses or other incentive-based compensation and profits received from the sale of Molecular USA's securities in ~~U.S.~~the ~~Dollars)~~twelve month period following initial publication of any of Molecular USA's financial statements that later require restatement;
~~(Unaudited)~~ disclose any off-balance sheet transactions as required by the SOA;
~~31 December~~prohibit ~~2012~~all personal loans to directors and officers;
~~The~~ ~~Company’s objective~~ensure indirectors, ~~managing~~officers ~~its foreign currency risk is to minimize its net exposures to foreign currency cash flows by holding most of its cash~~ and ~~cash equivalents~~10% inholders ~~Australian~~file ~~dollars. The~~their ~~Company~~Forms ~~monitors~~4's ~~and~~within ~~forecasts~~two ~~the~~days ~~values~~ of net foreign currency cash flow and balance sheet exposures and from time to time could authorize the use of derivative financial instruments such as forward foreign exchange contracts to economically hedge a ~~portion of foreign currency fluctuations.~~transaction;
If ~~the~~adopt ~~Australian~~a ~~dollar~~code ~~had weakened~~of ~~(strengthened)~~ethics ~~against~~and ~~the~~file ~~U.S.~~a ~~dollar,~~Form ~~with~~8-K ~~all~~whenever ~~other~~there ~~variables~~is ~~held constant,~~a bychange ~~100~~or ~~basis~~waiver ~~points~~of ~~(1%)~~this atcode; ~~period end, the impact on net loss~~ and ~~other comprehensive loss would have been $22,056 higher ($22,056 lower).~~
~~The~~ ~~Company~~ensure ~~has~~Molecular ~~not,~~USA's toauditor ~~the date~~is ofindependent ~~these~~as ~~interim~~defined ~~consolidated~~by ~~financial statements, entered into derivative instruments to offset~~ the ~~impact of foreign currency fluctuations~~SOA.

~~Interest~~ ~~Rate~~ The ~~Risk~~SOA has required us to review our current procedures and policies to determine whether they comply with the SOA and the new regulations promulgated thereunder. We will continue to monitor our compliance with all future regulations that are adopted under the SOA and will take whatever actions are necessary to ensure that we are in compliance.

~~The Company has non-interest~~ ~~paying~~ Environmental ~~cash balances and no interest-bearing debt. Its management’s~~Compliance ~~opinion that the Company is not exposed to significant interest risk arising from these financial instruments.~~

~~Liquidity~~ ~~Risk~~ The nature of Molecular USA's and MPLA's business does not require special environmental or local government approval. Molecular USA and MPLA are compliant with all environmental laws. The cost of such compliance is minimal for the Company.

~~Liquidity risk is the risk~~ ~~that an entity will encounter difficulty in meeting obligations associated with~~ Employees its financial liabilities. The Company is reliant upon PharmaNet as its sole source of cash. The Company has received financing from PharmaNet in the past; however, there is no assurance that it will be able to do so in the future.

18 Molecular USA currently has no employees and instead relies on outside contractors.

~~Item 2. Management's Discussion and~~ ~~Analysis~~ Immediate ofBusiness ~~Financial Condition and Results of Operations.~~Plans

~~THE~~ The ~~FOLLOWING~~Company, ~~ANALYSIS~~through OFits ~~THE~~subsidiary ~~RESULTS~~MPLA, ~~OF OPERATIONS~~plans ~~AND~~to ~~FINANCIAL~~continue ~~CONDITION~~to OFpursue ~~MOLECULAR~~the ~~USA~~various ~~FOR~~levels ~~THE~~of ~~SECOND~~the ~~QUARTER~~international ~~PERIOD~~regulatory approval processes. Applications ~~ENDED~~ and ~~DECEMBER~~product ~~31,~~opportunities ~~2012~~for ~~AND~~Tripeptofen ~~SHOULD~~are BEbelieved ~~READ~~to INbe ~~CONJUNCTION~~broad ~~WITH~~and ~~MOLECULAR USA’S~~cover ~~INTERIM~~a ~~CONSOLIDATED~~range ~~FINANCIAL~~of ~~STATEMENTS~~commercial fields, ~~INCLUDING~~each ~~THE~~with ~~NOTES~~distinct pre-market requirements. The ~~THERETO~~ international ~~CONTAINED~~drug ~~ELSEWHERE~~development INteam, ~~THE~~global ~~FORM~~resources 10and local know-Qhow will allow MPLA to seek the most time and cost effective regulatory pathways for each product and market sector.

~~Our~~ On ~~interim~~commercial ~~consolidated~~development, ~~financial~~MPLA ~~statements~~will ~~are stated~~focus on consolidating the regulatory pathway work in ~~United~~order ~~States~~to ~~Dollars~~prioritize ~~and~~the ~~are~~path ~~prepared~~to inmarket. ~~accordance~~Jeffery ~~with~~Edwards ~~United~~will ~~States~~ work ~~Generally~~to ~~Accepted~~set-out ~~Accounting~~the ~~Principles~~strategies designed to maximize the multi-jurisdictional capabilities of MPLA's development teams.

~~Overview~~ Results of Operation

We For ~~were incorporated in~~ the ~~state~~quarter ofended ~~Nevada~~March ~~on May 1~~31, ~~2002~~2013. ~~Up until the fall of 2005, Molecular USA was in the business of~~ ~~mineral exploration and development of a mineral property.~~

On24 October 13, 2005, Molecular USA entered into a distribution and supply agreement with Molecular Pharmacology Pty. Ltd. (formerly Molecular Pharmacology Limited)("MPLA"). MPLA is incorporated under the laws of Australia and at the time was a wholly owned subsidiary company of PharmaNet Group Limited, an Australian company listed on the Australian Stock Exchange. Under the terms of the distribution and supply agreement, Molecular USA received the exclusive distribution rights to distribute, market, promote, detail, advertise and sell certain "Licensed Products", as defined in the agreement, with metallo-polypeptide analgesic as an active ingredient, in the United States (excluding its territories and possessions).

~~On May 9, 2006, Molecular USA announced that it~~ ~~has~~ Revenues ~~acquired 100% of the issued and outstanding share capital of MPLA. The transaction was originally announced~~ by Molecular USA in a press release dated November 29, 2005 and was subsequently approved by a majority of the stockholders of the Company at a stockholders meeting held on April 21, 2006. As a result of the transaction, PharmaNet Group Limited ("PharmaNet"), the former parent company of MPLA, now controls approximately 79% of Molecular USA's issued and outstanding share capital. The transaction between the parties closed in escrow with an effective closing date of May 8, 2006. The business of MPLA is now the business of Molecular USA.

~~Our~~ REVENUE - ~~Current~~Molecular ~~Business~~USA has not generated any revenues for the quarter ended March 31, 2013, or since inception.

~~Molecular USA through its wholly owned subsidiary~~ ~~MPLA~~ COMMON ~~is in the business of developing and commercializing a new analgesic and~~STOCK ~~anti~~ -~~inflammatory~~ ~~molecule~~Molecular ~~known~~USA ashas ~~Tripeptofen.~~not ~~Tripeptofen~~issued isany ~~likely~~shares ~~to appear~~during inthe amost ~~new~~recent ~~group~~quarter. As of ~~products suitable for~~ the ~~treatment~~date of ~~common every-day~~May ~~pain.~~8, As2013, anMolecular ~~analgesic~~USA ~~and~~has ~~anti-inflammatory drug~~111,553,740 ~~Tripeptofen~~common ~~is unusual~~shares ~~due to its rapid speed of action~~ issued and ~~its topical or rub-on application~~outstanding.

~~The majority of over-the-counter anti-pain and~~ ~~anti-inflammatory~~ Expenses ~~products sold for the treatment of acute localized pain are based~~ ~~on non-steroidal anti-inflammatory drugs or NSAIDs. The majority of such products are slow acting and provide only mild pain relief.~~

~~The~~ SUMMARY ~~NSAID~~ - ~~group~~Total ~~has~~expenses ~~come~~were ~~under~~$151,766 ~~additional pressure~~for ~~and~~the ~~increasing~~nine ~~medical~~month ~~alarm~~period ended March 31, as2013. ~~many~~Expenses ~~drugs~~had inincreased during this ~~class~~past ~~have~~nine ~~been found~~month period as compared to ~~set~~the nine month period ended March 31, 2012 -~~back~~ ~~the~~$112,554. ~~recovery~~A total of ~~certain~~$2,288,785 ~~conditions~~in ~~and~~expenses ~~treatments~~has ~~for~~been ~~which they~~incurred ~~were~~by ~~marketed.~~Molecular ~~Moreover,~~USA ~~NSAIDs~~since ~~are~~inception ~~associated~~on ~~with~~July ~~severe~~14, 2004 ~~gastro-intestinal~~ through ~~side-effects~~to March 31, 2013. ~~This~~The increase in costs over this nine month period has ~~left~~occurred aas ~~niche~~the inresult anof ~~industry under-served~~Molecular byUSA's ~~new~~wholly ~~products~~owned ~~and~~subsidiary ~~ingredients~~increase in its consulting fees. The costs can be subdivided into the following categories:

~~MPLA's~~ Office ~~business~~Expenses ~~strategy~~and isRent : to$20,410 ~~exploit~~in office expenses (for administrative costs) were incurred for the ~~fast and~~nine ~~locally~~month ~~acting,~~period ~~low~~ended ~~side~~March ~~effects~~31, ~~and~~2013, ~~recovery-enhancing~~as ~~properties~~compared ofto ~~its~~$16,244 for the ~~new~~ nine ~~drug~~month ~~group~~period ~~and~~ended toMarch ~~market~~31, ~~this~~2012, aswhile a ~~new~~total ~~ingredient~~of $238,943 ~~enabling~~was ~~pharmaceutical companies~~incurred toin ~~develop~~the ~~and~~period ~~market~~from ~~effective~~inception ~~and~~on ~~safer~~July ~~products~~14, ~~suited~~2004 to aMarch ~~broad~~31, 2013. All ~~range~~ contributed ofexpenses ~~common~~are ~~everyday~~reported ~~pain~~as contributed costs with a corresponding credit to additional paid-in capital.
19 Consulting and Analysis Costs : Molecular USA relies on consultants and other third parties to conduct the majority of its research. For the nine month period ended March 31, 2013, $104,041 in consulting and analysis expenses were incurred as compared to $69,259 during the nine month period ended March 31, 2012. We have incurred a total of $1,394,182 in consulting and analyst fees since our inception on July 14, 2004 to March 31, 2013.
~~Licensed~~ Advertising ~~Products~~and Promotion Fees : Molecular USA has spent no money in this area this year. During the nine month period ended March 31, 2013, we spent $Nil on advertising and public relations and $Nil for nine month period ended March 31, 2012. A total of $23,739 has been incurred in this area during the period from inception on July 14, 2004 to March 31, 2013.
Professional Fees : Molecular USA ~~has~~incurred ~~exclusive~~$26,772 ~~distribution~~in ~~rights to~~professional ~~distribute,~~fees ~~market~~for the nine month period ended on March 31, ~~promote~~2013, ~~advertise~~as ~~and~~compared ~~sell~~to ~~certain~~$26,712 ~~"Licensed~~for ~~Products",~~the nine month ~~with~~ period ~~metallo-polypeptide~~ended ~~analgesic~~March ~~and~~31, ~~anti-inflammatory~~2012. ~~activity~~From asinception anto ~~active ingredient~~March 31, in2013, ~~the~~we ~~United~~have ~~States~~incurred ~~(excluding~~a ~~its~~total ~~territories~~of ~~and~~$386,355 ~~possessions) from~~professional ~~its~~fees ~~wholly~~mainly ~~owned~~spent ~~subsidiary~~on ~~company~~legal ~~MPLA.~~and accounting matters.
~~The~~ Travel ~~Licensed~~Costs : ~~Products~~Molecular ~~include~~USA ~~all~~incurred ~~products~~$359 in ~~all dosage~~travel ~~forms,~~costs ~~formulations,~~for ~~line~~the ~~extensions~~nine ~~and~~month ~~package~~period ~~configurations~~ended ~~using~~March ~~or otherwise~~31, ~~incorporating~~2013, ~~any aspect or production method of metallo-polypeptide analgesic and anti-inflammatory activity~~ as ancompared ~~active~~to ~~ingredient~~$Nil ~~marketed~~for ~~by MPLA or its affiliates under~~ the ~~trade~~nine ~~name~~month ~~Tripeptofen~~period orended ~~any other trade~~March ~~names~~ 31, or2012 ~~trademarks used by MPLA relating to the product~~ and ~~any~~$111,693 ~~improvements to~~has ~~such~~been ~~formulations~~incurred ~~or dosages as may hereafter be distributed by MPLA or its affiliates~~ in the ~~territory~~period ~~during~~from ~~the~~inception ~~term~~on ofJuly ~~the~~14, ~~distribution~~2004 ~~and~~to ~~supply agreement~~March ~~between Molecular USA and MPLA for the topical application for human use only~~31, ~~and specifically excludes:~~2013.
· Salaries and Benefit Costs ~~dermatological~~ : Molecular USA and its subsidiary rely primarily on outside consultants and not salaried employees. As a result, Molecular USA incurred $Nil in or salaries ~~cosmetic~~and ~~use~~benefits for the nine month period ended March 31, or2013 ~~tissue~~and ~~repair~~$Nil orin ~~tissue~~salaries ~~regeneration~~and ~~effect;~~benefits during the nine month period ended March, 2012. For the period July 14, 2004 (inception) through March 31, 2013, Molecular USA has spent a total of $44,464 on salaries and benefits.

· Molecular USA continues to carefully control its expenses and overall costs as it moves forward with the development of its new business plan. Molecular USA does not have any ~~use~~employees and engages personnel through outside consulting contracts or agreements or other such arrangements. ~~application~~ Income ofTax Provision : We have losses carried forward for income tax purpose to March 31, 2013. There are no current or deferred tax expenses for the ~~Licensed~~nine ~~Product~~month period ended March 31, 2013, due to our loss position. We have fully reserved for any benefits of these losses. The deferred tax consequences of temporary differences in ~~non-human~~reporting ~~groups~~items orfor ~~species;~~financial statement and income tax purposes are recognized as appropriate.

~~· Thermalife~~ ~~cream, presently owned by PharmaNet, the parent company of MPLA.~~ 25

~~All Licensed Products must first obtain~~ ~~regulatory~~ Liquidity ~~clearance in the United States before they may be marketed~~ and ~~sold by~~Capital ~~Molecular USA in that territory. Regulatory approval, commencement of the~~Resources ~~Master Drug File ("MDF") and~~ ~~market approval are the focus of an ongoing program expected to continue over the next 18 to 24 months.~~

~~MPLA~~ During ~~has~~the annine ~~exclusive~~month ~~license~~period ended March 31, 2013, Molecular USA satisfied its working capital needs by borrowing cash from ~~Cambridge Scientific~~its ~~Pty~~parent ~~Ltd~~company PharmaNet. As ofMarch ~~Australia.~~31, ~~This~~2013, ~~license~~the isCompany ~~restricted~~had tocash aand ~~"field of~~cash ~~use"~~equivalents ~~defined~~on hand in the ~~license~~amount ~~documentation.~~of ~~Cambridge~~$13,124 ~~Scientific~~($2,572 ~~Pty~~- June 30, 2012) and current payable and accrued ~~Ltd~~ liabilities of $7,000 ($19,252 - June 30, 2012). ~~may~~As ~~grant~~March 31, 2013, Molecular USA currently owes its parent company PharmaNet, $2,262,319, an additional $21,255 to other ~~licenses~~related parties, and $7,000 to ~~third~~non-related parties. ~~outside~~Given the ~~"field~~proposed business activities of Molecular USA and its subsidiary, management ~~use"~~ does not expect that the ~~subject~~current level of ~~the~~cash ~~licenses~~on ~~granted~~hand will be sufficient to ~~MPLA~~fund its operation for the next twelve month period.

~~Patents~~ To &achieve our goals and objectives for the next 12 months, we plan to raise additional capital through private placements of our equity securities and ~~Trademarks~~ future financing from our majority shareholder PharmaNet.

~~Molecular USA and its subsidiary MPLA, regard~~ ~~their~~ We ~~intellectual~~plan ~~property rights, such as copyrights, trademarks, trade secrets, practices and tools, as important~~ to ~~the~~use ~~success~~any ofadditional ~~their~~funds ~~company.~~that ~~To protect~~we ~~their~~might ~~intellectual~~be ~~property~~successful ~~rights,~~in ~~Molecular~~raising ~~USA~~for ~~relies on a combination of patent~~development, ~~trademark~~as ~~and~~well ~~copyright~~as ~~law,~~for ~~trade secret protection, confidentiality agreements and other contractual arrangements with their employees, affiliates, clients,~~ strategic ~~partners,~~ acquisition ~~targets~~of ~~and others. Effective~~existing ~~patent,~~businesses ~~trademark,~~ that ~~copyright~~complement ~~and~~our ~~trade~~market secret protection may not be available in every country in which the combined company intends to offer its products. The steps taken by Molecular USA and MPLA to protect their intellectual property rights may not be adequate. Third parties may infringe or misappropriate the combined company's intellectual property rights or the combined company may not be able to detect unauthorized use and take appropriate steps to enforce its rights. In additionniche, ~~other parties may assert infringement claims against the combined company. Such claims, regardless of merit, could result in the expenditure of significant financial~~ and ~~managerial~~general ~~resources.~~working ~~Further,~~capital ~~an increasing number of patents are being issued to third parties regarding these processes~~purposes. ~~Future~~ patents may limit the combined company's ability to use processes covered by such patents or expose the combined company to claims of patent infringement or otherwise require the combined company to seek to obtain related licenses. Such licenses may not be available on acceptable terms. The failure to obtain such licenses on acceptable terms could have a negative effect on the combined company's business.

~~To protect their~~ ~~intellectual~~ If ~~property~~we ~~rights,~~are ~~MPLA~~unsuccessful ~~relies~~in onobtaining anew ~~combination~~capital, ofour ~~license~~ability ~~and patent~~to ~~applications~~seek ~~held by Cambridge Scientific Pty Ltd which includes "Analgesic~~ and ~~Anti-Inflammatory~~ ~~Composition"~~consummate ~~comprising~~strategic ~~USA~~acquisitions ~~patent~~to ~~application~~build ~~in completion~~our ~~plus~~company ~~PCT~~internationally ~~Provisional Specification having the same name designated as Serial No. 11/059580. These patent applications embody all the current Analgesic~~ and ~~Anti-inflammatory assets. MPLA will also~~to ~~rely~~ expand ~~on the exclusive nature~~ of ~~its~~our ~~license,~~business ~~trademark~~development and ~~copyright~~marketing ~~law,~~programs ~~trade secret~~could ~~protection,~~be ~~confidentiality~~adversely ~~agreements and other contractual arrangements as it may execute from time to time~~affected.

~~Management of Molecular USA and MPLA believes that MPLA's products,~~ ~~trademarks,~~ Off-Balance ~~and~~Sheet ~~other proprietary rights do not infringe on the proprietary~~Arrangement ~~rights of third parties.~~

20 As of March 31, 2013, Molecular USA did not have any off-balance sheet arrangements.

~~Marketing~~ Research and Development

~~Molecular~~ Since ~~USA~~the ~~plans~~acquisition toof ~~market its Licensed Products~~MPLA, ~~when~~Molecular ~~approved,~~USA ~~through~~has ~~existing~~maintained ~~pharmaceutical~~MPLA's ~~distributors~~research and ~~by collaborative~~development ~~dealings~~program ~~with major companies active in the United States and~~to: ~~Europe.~~

In Refine ~~addition,~~and ~~Molecular~~prove-up ~~USA~~its ~~plans~~proprietary toactive ~~explore opportunities~~ingredients ~~for~~and ~~direct~~to ~~sales,~~commence ~~out-licensing and~~ the ~~integration~~processes ofthat ~~the company’s~~will ~~proprietary~~lead ~~anti-inflammatory~~to ~~and~~the ~~analgesic~~issue ~~components~~of ~~in products~~a ~~already~~Master ~~distributed~~Drug ~~through~~File ~~various~~registration ~~international~~of its ~~markets.~~ products;
~~Molecular~~ Define ~~USA~~the ~~expects~~mode ~~that~~of ~~these~~action ~~activities~~and ~~may even~~potential ~~help~~of ~~fund~~Tripeptofen ~~the~~in ~~development~~both ~~costs~~in ofvitro, ~~the~~animal ~~Licensed~~and ~~Products~~human ~~in the United~~studies; ~~States.~~
~~Manufacturing~~ Gain &Australian regulatory and marketing approval; ~~Supply~~
~~Molecular USA and MPLA have no manufacturing~~ ~~facilities.~~ Gain ~~MPLA~~European isregulatory ~~required~~approval; ~~to supply Molecular USA with all Licensed Products under the distribution~~ and ~~supply agreement entered into by the parties in~~ October 2005. It is likely MPLA will enter into arrangements with various Good Manufacturing Practice ("GMP") certified formulation and manufacturers of the Licensed Products for clinical trial and sales purposes. These formulations and the manufacturing facilities must comply with regulations and current good laboratory practices (or CGLPs), and current GMPs, enforced by the Food and Drug Administration ("FDA"). Molecular USA plans to continue MPLA's practice to outsource formulation and manufacturing for its clinical trials and potential commercialization after the acquisition of MPLA by Molecular USA.
~~Molecular~~ Commence ~~USA~~application ~~has~~for ~~not~~American ~~entered~~regulatory ~~into any supply agreements~~approval.

~~Competition~~ MPLA is in the business of developing and commercializing a new analgesic and anti-inflammatory molecule known as Tripeptofen. Tripeptofen is likely to appear in a new group of products suitable for the treatment of common every-day pain. As an analgesic and anti-inflammatory drug, Tripeptofen is unusual due to its rapid speed of action and its topical or rub-on application.

~~Molecular~~ On ~~USA~~April ~~and~~19, ~~MPLA~~2006, ~~compete~~Molecular inUSA announced the ~~segment~~filing of ~~the~~ ~~pharmaceutical~~a ~~market~~new ~~that treats pain and inflammation~~patent, ~~which~~Tissue isDisruption ~~highly competitive.~~Treatment Weand ~~face~~Composition ~~significant~~for ~~competition~~Use ~~from~~(US ~~most~~Patent ~~pharmaceutical~~number ~~companies~~11218382). The as patent ~~well~~describes asa ~~biotechnology~~proprietary ~~companies~~process ~~that~~for ~~are~~the ~~also~~manufacture ~~researching~~of ~~and~~topical ~~selling~~biological ~~products designed~~secondary toinjury ~~treat~~mediators ~~pain~~(B-SIMs) ~~and~~that ~~inflammation.~~should ~~Many of our competitors~~ have ~~significantly~~ ~~greater financial~~local, ~~manufacturing,~~rather ~~marketing and product development resources~~ than ~~we do. Large pharmaceutical companies in particular~~ ~~have~~ systemic, ~~extensive~~effects ~~experience in clinical testing~~ and inmay ~~obtaining~~be ~~regulatory approvals~~significantly ~~for~~less ~~drugs.~~expensive ~~These~~to ~~companies~~manufacture ~~also have significantly greater research capabilities~~ than weconventional doB-SIMs. InMPLA ~~addition,~~is ~~many~~developing ~~universities~~its ~~and~~B-SIMs ~~private~~to ~~and~~stop ~~public~~the tissue ~~research~~ disruption ~~institutes~~that ~~are~~occurs ~~active~~after ininjury ~~neurological~~by ~~research,~~suppressing ~~some~~the inbody's ~~direct competition with us. These companies~~reactions, assuch ~~well~~ as ~~academic~~inflammation ~~institutions, governmental agencies~~ and ~~other~~damage/death ~~public~~of ~~and~~otherwise ~~private~~uninjured ~~organizations~~cells ~~conducting~~that are ~~research,~~ triggered ~~also compete with Molecular USA and MPLA~~ in ~~recruiting~~response ~~and~~to ~~retaining highly~~primary ~~qualified scientific personnel and consultants and may establish collaborative arrangements with competitors of Molecular USA~~injury.

~~Molecular~~ The ~~USA's~~first ~~competition~~conditions targeted by MPLA will be ~~determined~~the musculoskeletal injuries. The use of a B-SIM in these markets represents a new approach to one of the ~~part~~ world's bylargest over the ~~potential~~counter drug markets and includes indications ~~for~~such ~~which~~as ~~the~~joint inflammation, musculoskeletal pain, overuse and strain injuries, burns and even surgical and cosmetic procedures. MPLA's ~~products~~proprietary, ~~are~~industrially ~~developed~~scalable peptide-ligand bond exchange (PLBE) B-SIM manufacturing process ~~and~~ involves ~~ultimately~~the ~~approved~~disassociation byof ~~regulatory~~proteins, ~~authorities~~rather than the far more costly process of assembling B-SIMs one sequence at a time. The patent was lodged in the name of Cambridge Scientific Pty Ltd;

~~Molecular USA knows of other companies and~~ ~~institutions dedicated to the development of anti-pain and anti-inflammatory~~ 26 pharmaceuticals similar to those being developed by MPLA and licensed to Molecular USA. Many of Molecular USA's competitors, existing or potential, have substantially greater financial and technical resources and therefore may be in a better position to develop, manufacture and market pharmaceutical products. Many of these competitors are also more experienced with regard to preclinical testing, human clinical trials and obtaining regulatory approvals. The current or future existence of competitive products may also adversely affect the marketability of Molecular USA's products.

~~Governmental~~however, ~~Regulation~~Molecular USA holds the worldwide exclusive license to manufacture, commercialize, market and distribute topical anti-inflammatory and analgesic products based on the proprietary MPL-TL compound.

~~FDA Regulation. Pharmaceutical products are subject to~~ ~~extensive~~ Molecular ~~pre-~~USA ~~and~~is ~~post-marketing~~still ~~regulation~~working byon the ~~FDA,~~projections ~~including~~regarding ~~regulations that govern~~ the ~~testing,~~necessary ~~manufacturing,~~expenditure ~~safety, efficacy, labeling, storage, record-keeping, advertising~~ and ~~promotion~~time offrame ~~the~~involved ~~products~~in ~~under~~pursuing ~~the~~this ~~Federal Food,~~research ~~Drug~~ and ~~Cosmetic Act and the Public Health Services Act, and by~~development ~~comparable agencies in most foreign countries~~ program. ~~The~~Any ~~process~~such ~~required~~program bywill ~~the~~also ~~FDA before a new drug may~~ be ~~marketed~~subject into ~~the~~Molecular ~~U.S.~~USA ~~generally~~raising ~~involves~~ the ~~following: completion~~necessary offunds ~~pre-clinical~~to ~~laboratory~~advance ~~and~~such ~~animal~~a ~~testing; submission of an~~program. ~~investigational new drug application ("IND"), which must~~

21 Capital Expenditure Commitments

~~become~~ Capital ~~effective~~expenditures ~~before~~for ~~clinical~~the ~~trials~~nine ~~may begin;~~month ~~performance~~period ofended ~~adequate~~March ~~and~~31, ~~well~~2013, ~~controlled~~amounted ~~human clinical trials~~ to ~~establish~~ ~~the~~$Nil. ~~safety~~Molecular ~~and~~USA ~~efficacy~~does ofnot ~~the~~anticipate ~~proposed~~any ~~drug’s~~significant ~~intended~~purchase ~~use;~~or sale ~~and~~ of ~~approval~~equipment byover the ~~FDA~~next of12 ~~a New Drug Application ("NDA")~~months.

~~The activities required before a pharmaceutical~~ ~~agent~~ Recent ~~may~~Accounting bePronouncements ~~marketed in the United States begin with pre-clinical testing. Pre-clinical tests include laboratory~~ ~~evaluation of potential products and animal studies to assess the potential~~ safety and efficacy of the product and its formulations. The results of these studies and other information must be submitted to the FDA as part of an IND application, which must be reviewed and approved by the FDA before proposed clinical testing can begin. Clinical trials involve the administration of the investigational new drug to healthy volunteers or to patients under the supervision of a qualified principal investigator. Clinical trials are conducted in accordance with Good Clinical Practices under protocols that detail the objectives of the study, the parameters to be used to monitor safety and the efficacy criteria to be evaluated. Each protocol must be submitted to the FDA as part of the IND application. Further, each clinical study must be conducted under the auspices of an independent institutional review board. The institutional review board will consider, among other things, ethical factors and the safety of human subjects.

~~Typically~~ In March 2013, ~~human~~Financial ~~clinical~~Accounting ~~trials~~Standards ~~are~~Board ~~conducted~~("FASB") ~~in three~~issued ~~phases~~Accounting ~~that~~Standards ~~may~~Update ~~overlap~~("ASU") No. In2013-05, ~~Phase~~"Foreign 1Currency Matters". The amendments in this update resolve the diversity in practice about whether Subtopic 810-10, ~~clinical~~"Consolidation ~~trials~~- ~~are~~Overall", ~~conducted~~or ~~with~~Subtopic a830-30, "Foreign Currency ~~small~~ Matters ~~number~~- Translation of ~~subjects~~Financial Statements", applies to ~~determine~~the release of the ~~early~~cumulative ~~safety~~translation ~~profile~~adjustment ~~and~~into ~~pharmacology~~net income when a parent either sells a part or all of ~~the~~its ~~new~~investment ~~therapy.~~in Ina ~~Phase~~foreign 2,entity ~~clinical~~or ~~trials~~no ~~are~~longer ~~conducted~~holds ~~with~~a ~~groups~~controlling financial interest in a subsidiary or group of assets that is a ~~patients~~ nonprofit ~~afflicted~~activity ~~with~~or a ~~specific~~business ~~disease~~(other than a sale of in ~~order~~substance toreal ~~determine~~estate ~~preliminary efficacy,~~or ~~optimal~~conveyance ~~dosages~~of oil and ~~expanded~~gas ~~evidence~~mineral ofrights) ~~safety.~~within Ina ~~Phase~~foreign 3,entity. ~~large~~In ~~scale~~ addition, ~~multicenter,~~the ~~comparative~~amendments ~~clinical~~in ~~trials~~this ~~are~~update ~~conducted~~resolve ~~with~~the ~~patients afflicted~~diversity ~~with~~in apractice ~~target~~for ~~disease~~the treatment of business combinations achieved in ~~order~~stages (sometimes also referred to ~~provide~~as ~~enough~~step ~~data~~acquisitions) involving a foreign entity. ASU No. 2013-05 will be effective for ~~the~~fiscal years, and interim periods within those years, ~~statistical~~ beginning ~~proof~~after of15 ~~efficacy~~December 2013, with early adoption permitted, and ~~safety~~should ~~required~~be byapplied ~~the~~retrospectively ~~FDA~~to ~~and~~all ~~others~~prior periods presented. The Company does not expect the adoption of this update will have a material effect on its consolidated financial statements.

~~The~~ In ~~results~~February of2013, ~~the~~FASB ~~pre-clinical~~issued ~~and~~ASU ~~clinical testing~~No. 2013-04, ~~together~~"Liabilities". ~~with~~This ~~chemistry~~update ~~and~~requires ~~manufacturing~~an ~~information,~~entity ~~are submitted~~ to ~~the~~measure ~~FDA~~obligations inresulting ~~the~~from ~~form~~joint ofand anseveral liability ~~NDA~~arrangements for awhich ~~pharmaceutical~~the ~~product~~total inamount ~~order~~of ~~to obtain~~the ~~approval~~obligation towithin ~~commence~~the ~~commercial~~scope ~~sales.~~of Inthis ~~responding~~guidance tois anfixed ~~NDA,~~at the ~~FDA may~~reporting ~~grant marketing approvals~~date, ~~request~~as ~~additional~~the ~~information~~sum orof: ~~further~~(1) ~~research,~~ the oramount ~~deny~~ the ~~application~~reporting ifentity itagreed ~~determines~~to ~~that~~pay on the ~~application~~basis ~~does not~~of ~~satisfy~~ its ~~regulatory~~arrangement ~~approval~~among ~~criteria.~~its ~~Patient~~co-~~specific~~obligors ~~therapies~~and ~~may~~(2) ~~be subject~~any to additional ~~risk~~amount ~~with~~the ~~respect~~reporting entity expects to ~~the~~pay ~~regulatory~~on ~~review~~behalf ~~process.~~of ~~FDA approval~~its ~~for~~co-obligors. aASU ~~pharmaceutical~~No. ~~product~~2013-04 ~~may~~will ~~not~~ be ~~granted~~effective onfor afiscal ~~timely basis~~years, ~~if at~~and ~~all,~~interim orperiods ifwithin ~~granted~~those ~~may~~years, ~~not~~beginning ~~cover~~after ~~all~~15 December ~~the~~2013, ~~clinical~~with ~~indications~~early ~~for~~adoption ~~which approval~~permitted. isThe ~~sought~~Company ordoes ~~may~~not ~~contain~~expect ~~significant limitations in~~ the ~~form~~adoption of ~~warnings, precautions~~this orupdate ~~contraindications~~will ~~with~~have ~~respect~~a tomaterial ~~conditions~~effect ofon ~~use~~its consolidated financial statements.

~~Satisfaction~~ In ofFebruary ~~FDA~~2013, ~~premarket~~FASB ~~approval requirements~~issued ~~for~~ASU ~~new~~No. ~~drugs~~2013-02, ~~typically~~"Comprehensive ~~takes~~Income". ~~several~~The ~~years,~~amendments ~~and~~in this update do not change the ~~actual~~current ~~time~~requirements for reporting ~~required~~ net ~~may~~income ~~vary~~or ~~substantially~~other ~~based~~comprehensive ~~upon~~income in the ~~type~~financial statements. However, ~~complexity~~an ~~and~~entity ~~novelty~~is ofrequired to provide information about the amounts reclassified out of accumulated other comprehensive income by component and to present, either on the ~~product~~face orof ~~targeted~~the ~~disease.~~statement ~~Government~~where ~~regulation~~net ~~may~~income ~~delay~~is presented or ~~prevent~~in the ~~marketing~~ notes, ofsignificant ~~potential~~amounts ~~products~~reclassified ~~for~~out aof ~~considerable~~accumulated ~~period~~other ofcomprehensive ~~time~~income ~~and~~by ~~impose costly~~the ~~procedures~~respective ~~upon~~line ~~our~~items ~~activities.~~of ~~Success~~net inincome ~~early~~but ~~stage~~only ~~clinical~~if ~~trials~~the amount or reclassified ~~with~~is ~~prior~~required ~~versions~~under ofGAAP ~~products~~to ~~does~~be ~~not~~reclassified ~~assure~~to ~~success~~net income in ~~later~~its ~~stage clinical~~entirety ~~trials.~~in ~~Data~~the ~~obtained~~same ~~from~~reporting ~~clinical~~period. ~~activities~~For other amounts that are not ~~always~~required ~~conclusive~~ under ~~and~~GAAP ~~may~~to be ~~susceptible~~reclassified toin ~~varying~~their ~~interpretations~~entirety ~~that~~to ~~could~~net ~~delay~~income, an entity is required to cross-reference to other disclosures required under GAAP that ~~limit~~ provide additional detail about those amounts. ASU No. 2013-02 will be effective prospectively for reporting periods beginning on or ~~prevent~~after ~~regulatory~~15 ~~approval~~December 2012, with early adoption permitted. The Company does not expect the adoption of this update will have a material effect on its consolidated financial statements.

22 In January 2013, FASB issued ASU No. 2013-01, "Balance Sheet". The amendments in this update clarify that the scope of ASU 2011-11, "Disclosures about Offsetting Assets and Liabilities," applies to derivatives accounted for in accordance with Topic 815, "Derivatives and Hedging," including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with Section 210-20-45 or Section 815-10-45 or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2013-01 will be effective for fiscal years beginning on or after 1 January 2013 and interim periods within those annual periods, and to be applied

~~Once approved, the FDA may withdraw the product~~ ~~approval if compliance with pre- and post-marketing regulatory standards is not~~ 27 maintained or if problems occur after the product reaches the marketplace. In addition, the FDA may require post-marketing studies, referred to as Phase 4 studies, to monitor the effect of an approved product, and may limit further marketing of the product based on the results of these post-market studies. The FDA has broad post-market regulatory and enforcement powers, including the ability to levy fines and civil penalties, suspend or delay issuance of approvals, seize or recall products, or withdraw approvals.

~~Facilities~~retrospectively ~~used~~for toall ~~manufacture~~comparative ~~drugs~~periods ~~are subject to periodic inspection by the FDA, Drug Enforcement Agency and other authorities where applicable, and must comply with the FDA’s Current Good Manufacturing regulations~~presented. ~~Failure~~The toCompany ~~comply~~does ~~with~~not ~~the~~expect ~~statutory and regulatory requirements subjects~~ the ~~manufacturer~~adoption ~~to possible legal or regulatory action, such as suspension~~ of ~~manufacturing,~~this ~~seizure~~update ofwill ~~product~~have ~~or voluntary recall of~~ a ~~product.~~material ~~Adverse~~effect ~~experiences~~on ~~with the product must be reported to the FDA and~~its ~~could~~ consolidated ~~result~~financial ~~in the imposition of market restriction through labeling changes or in product removal~~statements. ~~Product approvals may be withdrawn if compliance with regulatory requirements is not maintained or if problems concerning safety or efficacy of the product occur following approval.~~

~~With~~ In ~~respect~~July to2012, ~~post~~FASB issued ASU No. 2012-~~market~~02, ~~product~~"Intangibles ~~advertising~~ - Goodwill and ~~promotion,~~Other". ~~the~~This ~~FDA~~update ~~imposes~~presents aan ~~number~~entity ofwith ~~complex~~the ~~regulations~~option onto ~~entities~~first ~~that~~assess qualitative ~~advertise~~ factors ~~and~~to ~~promote~~determine ~~pharmaceuticals,~~whether ~~which~~it ~~include,~~is ~~among~~more ~~other~~likely ~~things, standards~~than ~~and~~not ~~regulations~~that ~~relating~~an ~~to direct~~indefinite-~~to-consumer~~lived ~~advertising,~~intangible ~~off-label promotion,~~asset ~~industry~~is ~~sponsored~~impaired ~~scientific~~as ~~and~~a ~~educational~~basis ~~activities,~~for ~~and promotional~~determining ~~activities~~whether ~~involving~~it ~~the~~is necessary ~~Internet.~~to ~~The~~perform ~~FDA~~the ~~has~~quantitative ~~very~~impairment ~~broad enforcement~~test ~~authority~~in ~~under~~accordance ~~the~~with ~~Federal~~Subtopic ~~Food~~350-30, ~~Drug~~"Intangibles - Goodwill and ~~Cosmetic~~Other ~~Act,~~- ~~and failure~~General toIntangibles ~~abide~~Other than byGoodwill". ~~these~~The ~~regulations~~more-likely-than-not ~~can~~threshold ~~result~~is indefined ~~penalties~~as ~~including~~having ~~the issuance~~a likelihood of amore ~~warning~~than ~~letter~~fifty ~~directing~~percent. ~~the~~ASU ~~entity~~No. to2012-02 ~~correct~~will ~~deviations~~be ~~from~~effective for ~~FDA~~ annual ~~standards~~and impairment tests performed for fiscal years beginning after 15 September 2012, awith ~~requirement~~early ~~that~~adoption ~~future~~permitted. ~~advertising~~The ~~and~~Company ~~promotional~~does ~~materials~~not expect the be adoption ~~pre-cleared~~of bythis ~~the~~update ~~FDA,~~will ~~and~~have ~~state~~a ~~and~~material ~~federal~~effect ~~civil~~on ~~and~~its ~~criminal investigations~~consolidated ~~and~~financial ~~prosecutions~~statements.

~~Research facilities are subject to various laws~~ ~~and~~ Critical ~~regulations~~Accounting ~~regarding~~Policies ~~laboratory practices, the experimental use of animals,~~ and ~~the use and disposal of hazardous or potentially hazardous~~Estimates ~~substances in connection with the research in question. In each of these areas, as above, the~~ government has broad regulatory and enforcement powers, including the ability to levy fines and civil penalties, suspend or delay issuance of approvals, seize or recall products, and withdraw approvals, any one or more of which could have a material adverse effect upon us.

~~Other~~ Our ~~Government~~quarterly ~~Regulations. In~~interim ~~addition~~consolidated tofinancial ~~laws~~statements and ~~regulations enforced~~accompanying bynotes ~~the~~are ~~FDA,~~prepared ~~research~~in ofaccordance ~~Molecular~~with ~~USA’s~~generally ~~products~~accepted accounting principles used in the United States. ~~are~~Preparing ~~subject~~financial tostatements ~~regulation~~requires ~~under~~management ~~National~~to ~~Institutes~~make ofestimates ~~Health guidelines,~~and asassumptions ~~well~~that asaffect ~~under~~ the ~~Controlled~~reported ~~Substances~~amounts ~~Act,~~of ~~the Occupational~~assets, ~~Safety~~ liabilities, revenue, and ~~Health~~expenses. ~~Act,~~These ~~the~~estimates ~~Environmental~~and ~~Protection~~assumptions ~~Act,~~are ~~the~~affected ~~Toxic~~by ~~Substances Control~~management's ~~Act,~~application ~~the~~of ~~Resource~~accounting ~~Conservation~~policies. ~~and~~We ~~Recovery~~believe ~~Act~~that understanding ~~and~~the ~~other~~basis ~~present~~ and ~~potential~~ ~~future~~nature ~~federal,~~of ~~state~~the orestimates ~~local~~and ~~laws~~assumptions ~~and~~involved ~~regulations,~~with asthe ~~research~~following ~~and development~~aspects of ~~its~~our ~~products~~interim ~~involves~~consolidated ~~the~~financial ~~controlled~~statements ~~use of hazardous materials,~~is ~~chemicals,~~ critical ~~viruses~~to ~~and~~an ~~various~~understanding ~~radioactive~~of ~~compounds~~our financials.

~~In addition to regulations in the United States,~~ ~~Molecular~~ Stock-based ~~USA’s products are subject to a variety of foreign regulations~~compensation governing clinical trials and commercial sales and distribution of its Licensed Products. Whether or not Molecular USA obtains FDA approval for a product, Molecular USA or its subsidiaries must obtain approval of a product by the comparable regulatory authorities of foreign countries before it can commence clinical trials or marketing of the product in those countries. The approval process varies from country to country, and the time may be longer or shorter than that required for FDA approval. The requirements governing the conduct of clinical trials, product licensing, pricing and reimbursement vary greatly from country to country.

23Effective January 1, 2006, the Company adopted the provisions of ASC 718, "Compensation - Stock Compensation", which establishes accounting for equity instruments exchanged for employee services. Under the provisions of ASC 718, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employees' requisite service period (generally the vesting period of the equity grant). The Company adopted ASC 718 using the modified prospective method, which requires the Company to record compensation expense over the vesting period for all awards granted after the date of adoption, and for the unvested portion of previously granted awards that remain outstanding at the date of adoption. Accordingly, the financial statements for the periods prior to January 1, 2006 have not been restated to reflect the fair value method of expensing share-based compensation. The adoption of ASC 718 does not change the way the Company accounts for share-based payments to non-employees, with guidance provided by ASC 505-50, "Equity-Based Payments to Non-Employees".

~~Sarbanes-Oxley~~Item ~~Act of 2002~~3. On ~~July~~Quantitative ~~30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002 ("SOA"). SOA imposes a wide variety of new requirements on both U.S.~~ and ~~non-U.S. companies,~~Qualitative ~~that~~Disclosures ~~file~~about orMarket ~~are required to file periodic reports with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934~~Risk. ~~Many of these new requirements will affect Molecular USA and its board of directors. For instance, under SOA Molecular USA is required to:~~

~~· form~~ Interest anRate ~~audit~~Risk ~~committee in compliance with~~ ~~the SOA;~~

~~· have~~ Due ~~Molecular~~to ~~USA's~~the ~~chief~~short-term ~~executive~~nature ~~officer~~ of our interest bearing assets, which consist primarily of cash and ~~chief~~cash ~~financial~~equivalents ~~officer~~and ~~certify~~no ~~its~~restricted ~~financial~~cash, ~~statements;~~we believe that our exposure to interest rate market risk will not significantly affect our operations.

~~· ensure Molecular USA's directors and senior~~ ~~officers~~ Foreign ~~forfeit~~Currency ~~all~~Risk ~~bonuses or other incentive-based compensation and profits~~ ~~received from the sale of Molecular USA's securities in the twelve month period following initial publication of any of Molecular USA's financial statements that later require restatement;~~

~~· disclose~~ Our ~~any~~head ~~off-balance~~office ~~sheet~~and ~~transactions~~lab operations are based in Australia. Accordingly, we have been subject to exposure from adverse movements in foreign currency exchange rates. To date, the effect of changes in foreign currency exchange rates on revenue and operating expenses has not been material as ~~required~~we have had no revenue and limited operations. Operating expenses incurred by ~~the~~our ~~SOA;~~foreign subsidiaries were denominated in local currencies. We have not used financial instruments to hedge these operating expenses.

~~· prohibit all personal loans to directors and~~ ~~officers;~~ 28

~~· insure~~Item ~~directors,~~4. ~~officers~~Controls and ~~10% holders file their Forms 4's within two days of a transaction;~~Procedures.

~~· adopt~~ (a) ~~code~~Evaluation of ~~ethics~~disclosure controls and ~~file~~procedures ~~a Form 8-K~~ ~~whenever there is a change or waiver of this code; and~~

~~· insure~~ Disclosure ~~Molecular~~controls ~~USA~~are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's ~~auditor~~rules isand forms. Disclosure controls and ~~independent~~ procedures asinclude, ~~defined~~without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the ~~SOA~~reports that it files or submits under the Exchange Act is accumulated and communicated to the company's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

~~The~~ Management ~~SOA~~carried ~~has~~out ~~required~~an usevaluation to(with ~~review~~the participation of our ~~current procedures~~Chief Executive Officer ("CEO") and ~~policies~~Chief toFinancial ~~determine~~Officer ~~whether~~(" CFO") ~~they~~), ~~comply~~of ~~with~~the effectiveness of the ~~SOA~~design and ~~the new~~operation ~~regulations~~of ~~promulgated~~our ~~thereunder.~~disclosure Wecontrols ~~will~~and ~~continue~~procedures pursuant to ~~monitor~~Rules ~~our~~13a-15(e) and ~~compliance~~ 15d-15(e) ~~with~~under ~~all~~the ~~future~~Securities ~~regulations~~Exchange ~~that~~Act ~~are~~of ~~adopted~~1934 ~~under~~("Exchange Act"). Based upon that evaluation, the ~~SOA~~Company's ~~and~~CEO ~~will~~and ~~take~~ CFO ~~whatever~~have ~~actions~~concluded ~~are~~that ~~necessary~~the toCompany's ~~ensure~~disclosure ~~that~~controls weand ~~are~~procedures inwere ~~compliance~~effective as of March 31, 2013.

~~Environmental~~ (b) ~~Compliance~~Internal control over financial reporting

~~The nature of Molecular USA~~ Management's ~~and~~annual ~~MPLA's~~report ~~business~~on ~~does~~internal ~~not~~control ~~require~~over ~~special~~financial ~~environmental or local~~reporting ~~government approval. Molecular USA and MPLA are compliant with all environmental laws. The cost of such compliance is minimal for the company.~~

~~Employees~~ Management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is intended to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP. Our internal control over financial reporting should include those policies and procedures that:

~~Molecular~~ pertain ~~USA~~to ~~currently~~the ~~has~~maintenance noof ~~employees~~records that, in reasonable detail, accurately and ~~instead~~ ~~relies~~fairly onreflect ~~outside~~the ~~contractors.~~transactions and dispositions of our assets;
~~Immediate~~provide ~~Business~~reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with applicable ~~Plans~~ GAAP, and that receipts and expenditures are being made only in accordance with authorizations of management and the Board of Directors; and
~~The~~provide ~~Company,~~reasonable ~~through~~assurance ~~its~~regarding ~~subsidiary~~prevention ~~MPLA,~~or ~~plans to~~timely ~~continue~~detection ~~to pursue the various levels~~ of ~~the~~unauthorized ~~international~~acquisition, ~~regulatory approval~~use ~~processes.~~or ~~Applications~~disposition ~~and~~of ~~product~~our ~~opportunities~~assets ~~for~~that ~~Tripeptofen~~could ~~are believed~~have ~~to be broad and cover~~ a ~~range of commercial fields, each with distinct~~ ~~pre-market~~ material ~~requirements.~~effect ~~The~~on ~~international drug development team, global resources and local know-how will allow MPLA to seek~~ the ~~most~~financial ~~time and cost effective regulatory pathways for each product and market sector~~statements.

On Because ~~commercial~~of ~~development,~~its ~~MPLA~~inherent ~~will~~limitations, ~~focus~~internal ~~on consolidating~~control ~~the~~over ~~regulatory~~financial ~~pathway~~reporting ~~work~~may innot ~~order~~prevent toor ~~prioritize~~detect ~~the~~misstatements. ~~path~~Also, ~~to market.~~projections ~~Jeff~~of ~~Edwards~~any ~~will~~evaluation of ~~work~~effectiveness to ~~set-out~~future ~~the~~periods ~~strategies~~are ~~designed~~subject to ~~maximize~~ the ~~multi-jurisdictional~~risk ~~capabilities~~that controls may become inadequate because of ~~MPLA's~~changes ~~development~~in ~~teams~~conditions, or that the degree of compliance with the policies or procedures may deteriorate.

~~Results~~ As required by Rule 13a-15(c) promulgated under the Exchange Act, management, with the participation of ~~Operation~~our CEO and CFO, evaluated the effectiveness of our internal control over financial reporting as of March 31, 2013. Management's assessment took into consideration the size and complexity of the company and was based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control over Financial Reporting - Guidance for Smaller Public Companies. In performing the assessment, management has concluded that our internal control over financial reporting was effective as of March 31, 2013.

~~For~~ Attestation report of the ~~quarter ended~~registered ~~December~~public ~~31,~~accounting ~~2012.~~firm

24 This quarterly report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management's report in this quarterly report.

~~Revenues~~ 29

~~REVENUE - Molecular USA has~~ ~~not~~ Changes ~~generated~~in ~~any~~internal ~~revenues~~control ~~for~~over ~~the~~financial ~~quarter ended December 31, 2012, or since~~reporting ~~inception.~~

~~COMMON~~ ~~STOCK~~ Based –on ~~Molecular~~the ~~USA~~evaluation as of March 31, 2013, Jeffery Edwards, our President, CEO, and CFO has ~~not~~concluded that there were no significant changes in our ~~issued~~ internal controls over financial reporting or in any ~~shares~~other ~~during~~areas ~~the~~that ~~most~~could ~~recent~~significantly ~~quarter.~~affect Asour ofinternal controls subsequent to the date of ~~February~~his 8,most ~~2012~~ recent evaluation, ~~Molecular~~including ~~USA~~corrective ~~has~~actions ~~111,553,740~~with ~~common~~regard ~~shares~~to ~~issued~~significant deficiencies and ~~outstanding~~material weaknesses.

~~Expenses~~ 30

~~SUMMARY~~ – PART ~~Total~~II ~~expenses~~- ~~were~~OTHER ~~$100,170 for the~~INFORMATION ~~six month period ended December 31, 2012.~~ Expenses had increased during this past six month period as compared to the six month period ended December 31, 2011 – $81,744. A total of $2,237,189 in expenses has been incurred by Molecular USA since inception on July 14, 2004 through to December 31, 2012. The increase in costs over this six month period has occurred as the result of Molecular USA’s wholly owned subsidiary increase in its consulting fees. The costs can be subdivided into the following categories.

~~Office~~Item Expenses and Rent: $15,780 in office expenses (for administrative costs) were incurred for the six month period ended December 31, 2012, as compared to $10,573 for the six month period ended December 31, 2011, while a total of $234,313 was incurred in the period from inception on July 14, 2004 to December 31, 20121. ~~All~~Legal ~~contributed expenses are reported as contributed costs with a corresponding credit to additional paid-in capital~~Proceedings.

~~Consulting and Analysis~~ ~~Costs:~~ We ~~Molecular~~know ~~USA~~of ~~relies~~no onmaterial, ~~consultants~~active ~~and~~or ~~other~~pending ~~third~~legal ~~parties~~proceedings ~~to conduct~~against ~~the~~our ~~majority~~company, ofnor ~~its~~are ~~research.~~we ~~For~~involved ~~the~~as ~~six~~a ~~month~~plaintiff ~~period~~in ~~ended~~any ~~December 31,~~material ~~2012,~~proceeding ~~$64,118~~or inpending litigation. ~~consulting~~There ~~and~~are ~~analysis~~no ~~expenses~~proceedings ~~were~~in ~~incurred~~which ~~as compared~~any toof ~~$60~~our directors,~~133~~ ~~during~~officers ~~the~~or ~~six month period ended December 31~~affiliates, ~~2011. We~~or ~~have~~any ~~incurred~~registered aor ~~total~~beneficial ~~of $1~~shareholder,~~354,259 in~~ ~~consulting~~is ~~and~~an ~~analyst~~adverse party ~~fees~~or ~~since~~has ~~our~~a ~~inception~~material oninterest ~~July~~adverse ~~14, 2004~~ to ~~December 31,~~our ~~2012~~interest.

~~Advertising~~Item ~~and Promotion Fees: Molecular USA has spent no money in this area this year~~1A. ~~During~~ ~~the~~Risk ~~six month period ended December 31, 2012, we spent $Nil on advertising and public relations and $Nil for six month period ended December 31, 2011~~Factors. ~~A total of $23,739 has been incurred in this area during the period from inception on July 14, 2004 to December 31, 2012.~~

~~Professional Fees: Molecular USA~~ ~~incurred~~ As ~~$19,743~~a in"smaller ~~professional~~reporting ~~fees~~company" ~~for~~as ~~the~~defined ~~six~~by ~~month~~Item ~~period~~10(f) ~~ended~~of onRegulation ~~December 31~~S-K, ~~2012, as compared to $10,813 for~~ the ~~six~~Company ~~month~~is ~~period~~not ~~ended~~required ~~December 31, 2011. From inception~~ to ~~December~~provide ~~31,~~information ~~2012~~required weby ~~have~~this ~~incurred a total of $379,326 professional fees mainly spent on legal and accounting matters~~Item.

~~Travel~~Item ~~Costs:~~2. ~~Molecular~~Unregistered ~~USA incurred~~Sales ~~$359~~of inEquity ~~travel~~Securities ~~costs for the six month period ended December 31, 2012, as compared to $Nil for the six month period ended December 31, 2011~~ and ~~$111,693~~Use ~~has~~of ~~been incurred in the period from inception on July 14, 2004 to December 31, 2012~~Proceeds.

~~Salaries and Benefit~~ ~~Costs:~~ Recent ~~Molecular~~Sale USA and its subsidiary rely primarily on outside consultants and not salaried employees. As a result, Molecular USA incurred $Nil in salaries and benefits for the six month period ended December 31, 2012 and $Nil in salaries and benefits during the six month period ended December, 2011. For the period July 14, 2004 (inception) through December 31, 2012, Molecular USA has spent a total of ~~$44,464~~Unregistered ~~on salaries and benefits.~~ Securities

~~Molecular USA~~ ~~continues~~ Not ~~to carefully control its expenses and overall costs as it moves forward with the development of its new business plan~~Applicable. ~~Molecular USA does not~~ ~~have any employees and engages personnel through outside consulting contracts or agreements or other such arrangements.~~

~~Income~~ Use Tax Provision: We have losses carried forward for income tax purpose to December 31, 2012. There are no current or deferred tax expenses for the six month period ended December 31, 2012, due to our loss position. We have fully reserved for any benefits of ~~these~~Proceeds ~~losses. The~~from ~~deferred~~Unregistered ~~tax~~Securities ~~consequences of temporary differences in reporting items for financial statement and income tax purposes are recognized as appropriate.~~

~~Liquidity~~ Not ~~and Capital~~Applicable. ~~Resources~~

~~During~~Item ~~the six month period ended December 31, 2012, Molecular USA satisfied its working capital needs by borrowing cash from its parent company PharmaNet~~3. As ~~December~~Defaults ~~31,~~Upon ~~2012,~~Senior ~~the Company had cash and cash equivalents on hand in the amount of $5,994 ($2,572– June 30, 2012) and current payable and accrued liabilities of $7,184 ($19,252 – June 30, 2012)~~Securities. As December 31, 2012, Molecular USA currently owes its parent company PharmaNet, $2,215,452, an additional $4,660 to other related parties, and $7,184 to non-related parties. Given the proposed business activities of Molecular USA and its subsidiary, management does not expect that the current level of cash on hand will be sufficient to fund its operation for the next twelve month period.

25 Not Applicable.

ToItem ~~achieve~~4. ~~our~~Mine ~~goals~~Safety ~~and objectives for the next 12 months, we plan to raise additional capital through private placements of our equity securities and future financing from our majority shareholder PharmaNet~~Disclosures.

~~We plan to use any additional funds that we might~~ be Not ~~successful in raising for development, as well as for strategic acquisition of existing businesses that complement our market niche, and general working capital purposes~~Applicable.

IfItem we5. ~~are~~Other unsuccessful in obtaining new capital, our ability to seek and consummate strategic acquisitions to build our company internationally and to expand of our business development and marketing programs could be adversely affectedInformation.

~~Off-Balance~~ No ~~Sheet~~items to disclose. ~~Arrangement~~

~~As of December~~ 31~~, 2012, Molecular USA did not have any off-balance sheet arrangements.~~

~~Research~~Item ~~and~~6. ~~Development~~Exhibits.

Since the acquisition of MPLA, Molecular USA has maintained MPLA’s research and development program to:

Exhibit Number	Exhibit Title
3.1	Articles of Incorporation as Amended (incorporated by reference to exhibit 3.1 to our Form 10-SB Registration Statement filed on January 23, 2003)
3.2	Article of Amendment dated August 29, 2005
3.3	Bylaws as Amended (incorporated by reference to exhibit 3.2 to our Form 10-SB Registration Statement filed on January 23, 2003)
31.1	Certificate of CEO as Required by Rule 13a-14(a)/15d-14
31.2	Certificate of CFO as Required by Rule 13a-14(a)/15d-14
32.1	Certificate of CEO and CFO as Required by Rule 13a-14(b) and Rule 15d-14(b) (17 CFR 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code

~~Refine and prove-up its proprietary active~~SIGNATURES ~~ingredients and to commence the processes that will lead to the issue of a Master~~ ~~Drug File registration of its products;~~

~~Define~~ Pursuant to the ~~mode~~requirements of ~~action~~the ~~and~~Securities ~~potential~~Exchange Act of ~~Tripeptofen~~ in1934, ~~both~~the inregistrant ~~vitro,~~has ~~animal~~duly ~~and~~caused ~~human~~this ~~studies;~~report to be signed on its behalf by the undersigned thereunto duly authorized.

~~Gain~~ May ~~Australian~~8, ~~regulatory and marketing~~2013. ~~approval;~~

~~Gain~~MOLECULAR ~~European~~PHARMACOLOGY ~~regulatory~~(USA) ~~approval;~~LIMITED BY: /s/ Jeffrey Edwards Jeffery Edwards, President, Chief Executive Officer, Chief Financial Officer and a Member of the Board of Directors

~~Commence application for American regulatory~~ ~~approval.~~ 32

MPLA is in the business of developing and commercializing a new analgesic and anti-inflammatory molecule known as Tripeptofen. Tripeptofen is likely to appear in a new group of products suitable for the treatment of common every-day pain. As an analgesic and anti-inflammatory drug, Tripeptofen is unusual due to its rapid speed of action and its topical or rub-on application.

On April 19, 2006, Molecular USA announced the filing of a new patent, Tissue Disruption Treatment and Composition for Use (US Patent number 11218382). The patent describes a proprietary process for the manufacture of topical biological secondary injury mediators (B-SIMs) that should have local, rather than systemic, effects and may be significantly less expensive to manufacture than conventional B-SIMs. MPLA is developing its B-SIMs to stop the tissue disruption that occurs after injury by suppressing the body's reactions, such as inflammation and damage/death of otherwise uninjured cells that are triggered in response to primary injury.

The first conditions targeted by MPLA will be the musculoskeletal injuries. The use of a B-SIM in these markets represents a new approach to one of the world’s largest over the counter drug markets and includes indications such as joint inflammation, musculoskeletal pain, overuse and strain injuries, burns and even surgical and cosmetic procedures. MPLA’s proprietary, industrially scalable peptide-ligand bond exchange (PLBE) B-SIM manufacturing process involves the disassociation of proteins, rather than the far more costly process of assembling B-SIMs one sequence at a time. The patent was lodged in the name of Cambridge Scientific Pty Ltd; however, Molecular USA holds the worldwide exclusive license to manufacture, commercialize, market and distribute topical anti-inflammatory and analgesic products based on the proprietary MPL-TL compound.

Molecular USA is still working on the projections regarding the necessary expenditure and time frame involved in pursuing this research and development program. Any such program will also be subject to Molecular USA raising the necessary funds to advance such a program.

Capital Expenditure Commitments

Capital expenditures for the six month period ended December 31, 2012, amounted to $Nil. Molecular USA does not anticipate any significant purchase or sale of equipment over the next 12 months.

Changes in Accounting Policies

In December 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2011-12, "Comprehensive Income". This ASU effectively defers the changes in ASU No. 2011-05, "Presentation of Comprehensive Income" that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. ASU No. 2011-12 should be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. As ASU No. 2011-12 relates only to the presentation of Comprehensive Income, the adoption of this update did not have a material effect on the Company's interim consolidated financial statements.

In June 2011, the FASB issued ASU No. 2011-05, "Presentation of Comprehensive Income". This ASU presents an entity with the option to present the total of comprehensive income, the components of net income, and the component of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. This update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity/deficit. The amendments in this update do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. ASU No. 2011-05 should be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after 15 December 2011. As ASU No. 2011-05 relates only to the presentation of Comprehensive Income, the adoption of this update did not have a material effect on the Company’s interim consolidated financial statements.

In May 2011, the FASB issued ASU No. 2011-04, "Fair Value Measurement" to amend the accounting and disclosure requirements on fair value measurements. This ASU limits the highest-and-best-use measure to nonfinancial assets, permits certain financial assets and liabilities with offsetting positions in market or counterparty credit risks to be measured at a net basis, and provides guidance on the applicability of premiums and discounts. Additionally, this update expands the disclosure on Level 3 inputs by requiring quantitative disclosure of the unobservable inputs and assumptions, as well as description of the valuation processes and the sensitivity of the fair value to changes in unobservable inputs. ASU No. 2011-04 is to be applied prospectively and is effective during interim and annual periods beginning after 15 December 2011. The adoption of this update did not have a material effect on the Company’s interim consolidated financial statements.

Critical Accounting Policies and Estimates

Our quarterly interim consolidated financial statements and accompanying notes are prepared in accordance with generally accepted accounting principles used in the United States. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management's application of accounting policies. We believe that understanding the basis and nature of the estimates and assumptions involved with the following aspects of our interim consolidated financial statements is critical to an understanding of our financials.

Stock-based compensation Effective January 1, 2006, the Company adopted the provisions of ASC 718, "Compensation – Stock Compensation", which establishes accounting for equity instruments exchanged for employee services. Under the provisions of ASC 718, stock-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employees’ requisite service period (generally the vesting period of the equity grant). The Company adopted ASC 718 using the modified prospective method, which requires the Company to record compensation expense over the vesting period for all awards granted after the date of adoption, and for the unvested portion of previously granted awards that remain outstanding at the date of adoption. Accordingly, the financial statements for the periods prior to January 1, 2006 have not been restated to reflect the fair value method of expensing share-based compensation. The adoption of ASC 718 does not change the way the Company accounts for share-based payments to non-employees, with guidance provided by ASC 505-50, "Equity-Based Payments to Non-Employees".

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

Interest Rate Risk

Due to the short-term nature of our interest bearing assets, which consist primarily of cash and cash equivalents and no restricted cash, we believe that our exposure to interest rate market risk will not significantly affect our operations.

Foreign Currency Risk

Our head office and lab operations are based in Australia. Accordingly, we have been subject to exposure from adverse movements in foreign currency exchange rates. To date, the effect of changes in foreign currency exchange rates on revenue and operating expenses has not been material as we have had no revenue and limited operations. Operating expenses incurred by our foreign subsidiaries were denominated in local currencies. We have not used financial instruments to hedge these operating expenses.

Item 4. Controls and Procedures.

(a) Evaluation of disclosure controls and procedures

Disclosure controls are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Our management carried out an evaluation (with the participation of our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") ), of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 ("Exchange

Act"). Based upon that evaluation, the Corporation's CEO and CFO have concluded that the Company's disclosure controls and procedures were effective as of December 31, 2012.

(b) Internal control over financial reporting

Management's annual report on internal control over financial reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is intended to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP. Our internal control over financial reporting should include those policies and procedures that:

· pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;

· provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with applicable GAAP, and that receipts and expenditures are being made only in accordance with authorizations of management and the Board of Directors; and

· provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

As required by Rule 13a-15(c) promulgated under the Exchange Act, Management, with the participation of our CEO and CFO, evaluated the effectiveness of our internal control over financial reporting as of December 31, 2012. Management's assessment took into consideration the size and complexity of the company and was based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control over Financial Reporting - Guidance for Smaller Public Companies. In performing the assessment, Management has concluded that our internal control over financial reporting was effective as of December 31, 2012.

Attestation report of the registered public accounting firm

This quarterly report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only Management's report in this quarterly report.

Changes in internal control over financial reporting

Based on the evaluation as of December 31, 2012, Jeffery Edwards, our President, CEO, and CFO has concluded that there were no significant changes in our internal controls over financial reporting or in any other areas that could significantly affect our internal controls subsequent to the date of his most recent evaluation, including corrective actions with regard to significant deficiencies and material weaknesses.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

We know of no material, active or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Item 1A. Risk Factors.

As a "smaller reporting company" as defined by Item 10(f) of Regulation S-K, the Company is not required to provide information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Recent Sale of Unregistered Securities

Not Applicable.

Use of Proceeds from Unregistered Securities

Not Applicable.

Item 3. Defaults Upon Senior Securities.

Not Applicable.

Item 4. Mine Safety Disclosures.

Not Applicable.

Item 5. Other Information.

No items to disclose.

Item 6. Exhibits.

Exhibit Number	Exhibit Title
3.1	Articles of Incorporation as Amended (incorporated by reference to exhibit 3.1 to our Form 10-SB Registration Statement filed on January 23, 2003).
3.2	Article of Amendment dated August 29, 2005
3.3	Bylaws as Amended (incorporated by reference to exhibit 3.2 to our Form 10-SB Registration Statement filed on January 23, 2003).
31.1	Certificate of CEO as Required by Rule 13a-14(a)/15d-14
31.2	Certificate of CFO as Required by Rule 13a-14(a)/15d-14
32.1	Certificate of CEO and CFO as Required by Rule 13a-14(b) and Rule 15d-14(b) (17 CFR 240.15d-14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

February 8, 2013.

MOLECULAR PHARMACOLOGY (USA) LIMITED BY: /s/ Jeffery Edwards Jeffery Edwards, President, Chief Executive Officer, Chief Financial Officer and a Member of the Board of Directors

	Number of common shares issued	Capital stock	Additional paid-in capital	Deficit, accumulated during the development stage	Cumulative translation adjustment	Stockholders' deficiency
		$	$	$	$	$
Balance at 14 July 2004 (inception)	294	-	1	-	-	1
Net loss for the period	-	-	-	(128,488)	-	(128,488)
Cumulative translation adjustment	-	-	-	-	(6,536)	(6,536)
Balance at 31 October 2004	294	-	1	(128,488)	(6,536)	(135,023)
Common shares issued for cash - January 2005	87,999,706	88,000	146,496	-	-	234,496
Net loss for the year	-	-	-	(387,667)	-	(387,667)
Cumulative translation adjustment	-	-	-	-	(161)	(161)
Balance at 31 October 2005	88,000,000	88,000	146,497	(516,155)	(6,697)	(288,355)
Acquisition of Molecular Pharmacology (USA) Limited - Recapitalization May 2006	43,553,740	43,554	(59,790)	-	-	(16,236)
Cancellation of common shares - July 2006	(20,000,000)	(20,000)	20,000	-	-	-
Net loss for the year	-	-	-	(508,260)	-	(508,260)
Cumulative translation adjustment	-	-	-	-	(16,222)	(16,222)
Balance at 31 October 2006	111,553,740	111,554	106,707	(1,024,415)	(22,919)	(829,073)
Net loss for the period	-	-	-	(377,131)	-	(377,131)
Cumulative translation adjustment	-	-	-	-	(105,436)	(105,436)
Balance at 30 June 2007	111,553,740	111,554	106,707	(1,401,546)	(128,355)	(1,311,640)
Net income for the year	-	-	-	62,296	-	62,296
Cumulative translation adjustment	-	-	-	-	(166,483)	(166,483)
Balance at 30 June 2008	111,553,740	111,554	106,707	(1,339,250)	(294,838)	(1,415,827)
Net loss for the year	-	-	-	(94,336)	-	(94,336)
Cumulative translation adjustment	-	-	-	-	219,034	219,034
Balance at 30 June 2009	111,553,740	111,554	106,707	(1,433,586)	(75,804)	(1,291,129)
Net loss for the year	-	-	-	(117,220)	-	(117,220)
Cumulative translation adjustment	-	-	-	-	(78,521)	(78,521)
Balance at 30 June 2010	111,553,740	111,554	106,707	(1,550,806)	(154,325)	(1,486,870)
Net loss for the year	-	-	-	(121,860)	-	(121,860)
Cumulative translation adjustment	-	-	-	-	(357,962)	(357,962)
Balance at 30 June 2011	111,553,740	111,554	106,707	(1,672,666)	(512,287)	(1,966,692)
Net loss for the year	-	-	-	(179,382)	-	(179,382)
Cumulative translation adjustment	-	-	-	-	66,215	66,215
Balance at 30 June 2012	111,553,740	111,554	106,707	(1,852,048)	(446,072)	(2,079,859)
Net loss for the period	-	-	-	(100,993)	-	(100,993)
Cumulative translation adjustment	-	-	-	-	(33.763)	(32,763)
Balance at 31 December 2012	111,553,740	111,554	106,707	(1,953,041)	(478,835)	(2,213,615)

Filing Compare · Molecular Pharmacology (USA) Ltd.