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ClearSign Combustion Corporation(a Development Stage Company)Condensed Balance Sheets(Unaudited)                                               September 30,   December 31,                                                    2012           2011                                               -------------  -------------ASSETSCurrent Assets:  Cash and cash equivalents                    $   9,640,327  $     929,962  Prepaid expenses                                   169,540        436,962                                               -------------  -------------    Total current assets                           9,809,867      1,366,924Fixed assets, net                                    388,577        162,173Patents and other intangible assets                  327,896         86,546Other assets                                          10,512         20,512                                               -------------  -------------    Total Assets                               $  10,536,852  $   1,636,155                                               =============  =============LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:  Accounts payable                             $     158,227  $     442,697  Promissory note                                          -         47,667  Accrued compensation                               555,439        253,899                                               -------------  -------------    Total current liabilities                        713,666        744,263Deferred rent                                         35,147         17,475                                               -------------  -------------    Total liabilities                                748,813        761,738                                               -------------  -------------Stockholders' Equity:  Common stock, 8,752,015 and 5,153,216 shares   issued and outstanding at September 30,   2012 and December 31, 2011, respectively              876            516  Additional paid-in capital                      17,294,051      5,364,139  Deficit accumulated in the development stage    (7,506,888)    (4,490,238)                                               -------------  -------------    Total stockholders' equity                     9,788,039        874,417                                               -------------  -------------  Total Liabilities and Stockholders' Equity   $  10,536,852  $   1,636,155                                               =============  =============ClearSign Combustion Corporation(a Development Stage Company)Condensed Statements of Operations(Unaudited)                                                                  For the                                                                Period from                                                                 Inception               For the Three Months      For the Nine Months     (January                      Ended                     Ended            23, 2008)                 September 30,              September 30,           to             -----------------------  ------------------------   September                 2012        2011         2012         2011      30, 2012             -----------  ----------  -----------  -----------  -----------Operating expenses:  Research and   develop-   ment      $   331,485  $  193,742  $   887,039  $   313,880  $ 1,410,996  General and   administra-   tive          810,557     598,886    2,144,650    2,078,215    6,114,566             -----------  ----------  -----------  -----------  -----------  Total   operating   expenses    1,142,042     792,628    3,031,689    2,392,095    7,525,562             -----------  ----------  -----------  -----------  -----------Loss from operations   (1,142,042)   (792,628)  (3,031,689)  (2,392,095)  (7,525,562)Other income (expense):        9,822       1,469       15,039        2,514       18,674             -----------  ----------  -----------  -----------  -----------Net Loss     $(1,132,220) $ (791,159) $(3,016,650) $(2,389,581) $(7,506,888)             ===========  ==========  ===========  ===========  ===========Net Loss per share       $     (0.13) $    (0.16) $     (0.42) $     (0.57) $     (2.14)             ===========  ==========  ===========  ===========  ===========Weighted average number of shares outstanding   8,752,015   4,976,199    7,209,133    4,195,165    3,506,521             ===========  ==========  ===========  ===========  ===========