currently , lightlake is focused on developing a treatment for overweight and obese patients with binge eating disorder , which is thought to be the most common eating disorder in the united states today , a treatment for patients with bulimia nervosa , which is a condition estimated to be affecting five million people in the united states at this time , and a treatment for opioid addiction that utilizes the company 's innovative proprietary technology . product development and testing in april 2012 , lightlake completed a phase ii clinical trial in helsinki , finland to investigate the use of the opioid antagonist naloxone delivered intra-nasally as a treatment for binge eating disorder . the company 's approach was unique , through using a single agent with known safety , delivered intra-nasally , in response to behavioral stimuli , and selectively addressing a subset of obese and overweight patients which was thought to represent up to 25 % of this total patient cohort . the company believed that its approach could deliver successful outcomes in a challenging area that recently encountered several failures . 10 lightlake is developing a treatment for binge eating disorder derived from the “ sinclair method , ” which was developed by dr. david sinclair original intended for the treatment of alcohol dependency . in 1990 , dr. sinclair discovered that the opioid antagonist naltrexone , when used correctly in the presence of drinking alcohol , resulted in a 78 % success rate , with patients abstaining from alcohol or consuming it at safe levels . in 1989 , dr. sinclair patented his `` method for treating alcohol drinking responses , ” also known as the “ sinclair method , ” and in 1994 , the fda approved the use of naltrexone as a treatment for alcohol dependency . since then , this form of treatment has been used by medical practices around the globe as an effective treatment for alcoholism . patients suffering from binge eating disorder typically exhibit a lack of control eating foods typically high in sugar , fat , or salt , and are able to override the feeling of fullness . when these patients eat foods with high levels of sugar , salt , or fat , the opioidergic system is activated , which causes the firing of the neurons that release endorphins . the endorphins then bind to opioid receptors on other neurons and activate these opioid receptors , which reinforces addictive behavior . by blocking these opioid receptors with an opioid antagonist , the effect these endorphins have each time these foods are eaten is counteracted . lightlake considers naloxone the optimal opioid antagonist to address binge eating disorder as naloxone remains in the brain for two hours , which is the duration of a typical binge . long-lasting opioid antagonists like naltrexone and nalmefene are sufficient for treating alcoholism and drug addiction , but the short-acting opioid antagonist naloxone , however works to selectively remove only unhealthy eating responses . moreover , the company believes that its treatment is well-suited for treating binge eating disorder as it is unlikely to be used in a truly chronic manner . the company expects that patients will only administer the treatment when they have the urge to binge eat , and the company expects that they will require less of the spray over time as they regain control of their eating habits . in 2011 , lightlake commenced a randomized double-blind placebo controlled phase ii trial investigating the use of naloxone intra-nasally as a treatment for binge eating disorder . the company randomly selected 138 patients meeting the criteria for binge eating disorder from over 900 applicants and 127 patients enrolled in the trial . while each patient was randomized to take either intranasal naloxone or a placebo nasal spray , all of the patients participated in an exercise program—a behavior that the company believes can be reinforced through this approach . some of the patients carried the a118g , which is a genetic variant for the mu opioid receptor , and the company planned to determine whether their response to treatment differed . the company contracted the phase ii trial operations to lightlake sinclair of helsinki , finland . on august 8 , 2012 , lightlake announced the final data from the phase ii trial investigating the use of naloxone intra-nasally as a treatment for binge eating disorder . results from this study have been very encouraging , whereby patients receiving naloxone demonstrated a significant reduction over placebo in reducing bingeing . in addition , the patients receiving the naloxone nasal spray lost weight in the second half of the study and it would appear that patients with the highest bmi tended to reduce their bingeing the most . on may 23 , 2013 , lightlake presented the results of the company 's phase ii clinical trial of its nasal spray treatment for binge eating disorder at the american psychiatric association ( “ apa ” ) annual meeting in san francisco . binge eating disorder has been added to the fifth edition of the apa 's diagnostic and statistical manual of mental disorders ( “ dsm-5 ” ) , which was launched at the apa annual meeting . dsm-5 is used by clinicians and researchers to diagnose and classify mental disorders in order to improve diagnoses , treatment , and research . this manual is the product of more than 10 years of effort by hundreds of international experts in all aspects of mental health . dsm-5 diagnostic criteria are concise and explicit , intended to facilitate an objective assessment of symptom presentations in a variety of clinical settings from inpatient to primary care . story_separator_special_tag lightlake has not had material reclassifications , mergers , consolidations , or purchase or sale of a significant amount of assets not in the ordinary course of business . lightlake is required to comply with all regulations , rules , and directives of governmental authorities and agencies applicable to the clinical testing and manufacturing of pharmaceutical product . lightlake is required to apply for or have any government approval for the company 's products or services . results of operations the following compares lightlake 's operations for the years ended july 31 , 2013 to the same period at july 31 , 2012. revenues lightlake did not have any revenues during the years ended july 31 , 2013 or 2012 , and has generated no revenues since inception as the company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced . all losses accumulated since inception has been considered as part of the company 's development stage activities . general and administrative expenses lightlake 's operating expenses were incurred in the amounts of $ 4,284,574 and $ 12,335,706 for the years ended july 31 , 2013 and 2012 , respectively . the difference in the year over year change of $ 8,051,132 was primarily due to stock based compensation issued to outside consultants in the amount of $ 7,542,133 during the year ended july 31 , 2012. research and development lightlake spent $ 282,670 and $ 506,169 during the years ended july 31 , 2013 and 2012 , respectively . this decrease was the result of the company 's phase ii clinical testing that was occurring during the year ended july 31 , 2012. the company does not anticipate any decreases in expenditures related to research and development ; however , the company 's research and development initiatives and processes are dependent on the ability of the company to raise capital . interest expense during the years ended july 31 , 2013 and 2012 , lightlake 's interest expense was $ 553,045 and $ 61,389 , respectively . the increase in fiscal 2013 was due to an increase in borrowings of $ 604,500 to fund the operations of the company . net loss the comparable net loss for the year ended july 31 , 2013 and since inception was $ 4,655,493 and $ 28,584,388 , respectively , as compared to the net loss for the same year ended july 31 , 2012 and since inception of $ 12,421,188 and $ 23,928,895 , respectively . included in these net losses was the recognition of interest expense , derived from the issuance of convertible notes payable and the issuance of common stock to outside consultants for services rendered in the amount of $ 937,353 in 2013 and $ 10,048,857 during the same period in 2012. additionally , lightlake has recognized debt discounts and beneficial conversion features of our derivative debt contracts arising out of the company 's convertible notes payable . 13 lightlake has not attained profitable operations and is dependent upon obtaining financing to pursue its objectives and further certain planned initiatives . in their report on the company 's financial statements at july 31 , 2013 and july 31 , 2012 , the company 's auditors raised substantial doubt about the company 's ability to continue as a going concern . story_separator_special_tag actual results could differ from those estimates . lightlake issues restricted stock to consultants for various services and employees for compensation . cost for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued , whichever is measurable more reliably measurable . the value of the common stock is measured at the earlier of ( i ) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached or ( ii ) the date at which the counterparty 's performance is complete . lightlake issues options and warrants to consultants , directors , and officers as compensation for services . these options and warrants are valued using the black-scholes model , which focuses on the current stock price and the volatility of moves to predict the likelihood of future stock moves . this method of valuation is typically used to accurately price stock options and warrants based on the price of the underlying stock . long-lived assets such as property , equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable . when required impairment losses on assets to be held and used are recognized based on the fair value of the asset . the fair value is determined based on estimates of future cash flows , market value of similar assets , if available , or independent appraisals , if required . if the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows , an impairment loss is recognized for the difference between the carrying amount and fair value of the asset . when fair values are not available , lightlake estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets . the company did not recognize any impairment losses for any periods presented . 15 fair value estimates used in preparation of the consolidated financial statements are based upon certain market assumptions and pertinent information available to management . the respective carrying value of certain on-balance-sheet financial instruments approximated their fair values . these financial instruments include cash , accounts receivable , accounts payable , and accrued expenses . fair values were assumed to approximate carrying values for these financial instruments since they are short-term in nature and their carrying amounts approximate fair values or they are receivable or payable on demand . the fair value of lightlake 's notes payable is estimated based upon the quoted

liquidity and capital resources lightlake 's cash reserves are not sufficient to meet its obligations for the next twelve-month period . as a result , the company will need to seek additional funding in the near future . the company currently does not have a specific plan of how it will obtain such funding ; however , the company anticipates that additional funding will be in the form of debt financing and or equity financing from the sale of its common stock . however , during the third and fourth quarters the company received equity investments of $ 600,000 and $ 150,000 , respectively , which increased the cash position of the company . at this time , lightlake can not provide investors with any assurance that it will be able to obtain sufficient funding from debt financing or the sale of its common stock to meet its obligations over the next twelve months or that the terms of the financing will be favorable to the company . the company does not have any arrangements in place for any future equity financing . the company may also seek to obtain short-term loans from its officers and directors to meet its short-term funding needs . the company has no material commitments for capital expenditures as of july 31 , 2013. the financial position of lightlake at the year ended july 31 , 2013 showed an increase in assets from july 31 , 2012 of $ 44,976 to $ 643,053 , respectively . this was due to an increase in the company 's cash position , which was the direct result of outside funding occurring during the company 's third and fourth quarters .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources lightlake 's cash reserves are not sufficient to meet its obligations for the next twelve-month period . as a result , the company will need to seek additional funding in the near future . the company currently does not have a specific plan of how it will obtain such funding ; however , the company anticipates that additional funding will be in the form of debt financing and or equity financing from the sale of its common stock . however , during the third and fourth quarters the company received equity investments of $ 600,000 and $ 150,000 , respectively , which increased the cash position of the company . at this time , lightlake can not provide investors with any assurance that it will be able to obtain sufficient funding from debt financing or the sale of its common stock to meet its obligations over the next twelve months or that the terms of the financing will be favorable to the company . the company does not have any arrangements in place for any future equity financing . the company may also seek to obtain short-term loans from its officers and directors to meet its short-term funding needs . the company has no material commitments for capital expenditures as of july 31 , 2013. the financial position of lightlake at the year ended july 31 , 2013 showed an increase in assets from july 31 , 2012 of $ 44,976 to $ 643,053 , respectively . this was due to an increase in the company 's cash position , which was the direct result of outside funding occurring during the company 's third and fourth quarters .
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 Suspicious Activity Report : currently , lightlake is focused on developing a treatment for overweight and obese patients with binge eating disorder , which is thought to be the most common eating disorder in the united states today , a treatment for patients with bulimia nervosa , which is a condition estimated to be affecting five million people in the united states at this time , and a treatment for opioid addiction that utilizes the company 's innovative proprietary technology . product development and testing in april 2012 , lightlake completed a phase ii clinical trial in helsinki , finland to investigate the use of the opioid antagonist naloxone delivered intra-nasally as a treatment for binge eating disorder . the company 's approach was unique , through using a single agent with known safety , delivered intra-nasally , in response to behavioral stimuli , and selectively addressing a subset of obese and overweight patients which was thought to represent up to 25 % of this total patient cohort . the company believed that its approach could deliver successful outcomes in a challenging area that recently encountered several failures . 10 lightlake is developing a treatment for binge eating disorder derived from the “ sinclair method , ” which was developed by dr. david sinclair original intended for the treatment of alcohol dependency . in 1990 , dr. sinclair discovered that the opioid antagonist naltrexone , when used correctly in the presence of drinking alcohol , resulted in a 78 % success rate , with patients abstaining from alcohol or consuming it at safe levels . in 1989 , dr. sinclair patented his `` method for treating alcohol drinking responses , ” also known as the “ sinclair method , ” and in 1994 , the fda approved the use of naltrexone as a treatment for alcohol dependency . since then , this form of treatment has been used by medical practices around the globe as an effective treatment for alcoholism . patients suffering from binge eating disorder typically exhibit a lack of control eating foods typically high in sugar , fat , or salt , and are able to override the feeling of fullness . when these patients eat foods with high levels of sugar , salt , or fat , the opioidergic system is activated , which causes the firing of the neurons that release endorphins . the endorphins then bind to opioid receptors on other neurons and activate these opioid receptors , which reinforces addictive behavior . by blocking these opioid receptors with an opioid antagonist , the effect these endorphins have each time these foods are eaten is counteracted . lightlake considers naloxone the optimal opioid antagonist to address binge eating disorder as naloxone remains in the brain for two hours , which is the duration of a typical binge . long-lasting opioid antagonists like naltrexone and nalmefene are sufficient for treating alcoholism and drug addiction , but the short-acting opioid antagonist naloxone , however works to selectively remove only unhealthy eating responses . moreover , the company believes that its treatment is well-suited for treating binge eating disorder as it is unlikely to be used in a truly chronic manner . the company expects that patients will only administer the treatment when they have the urge to binge eat , and the company expects that they will require less of the spray over time as they regain control of their eating habits . in 2011 , lightlake commenced a randomized double-blind placebo controlled phase ii trial investigating the use of naloxone intra-nasally as a treatment for binge eating disorder . the company randomly selected 138 patients meeting the criteria for binge eating disorder from over 900 applicants and 127 patients enrolled in the trial . while each patient was randomized to take either intranasal naloxone or a placebo nasal spray , all of the patients participated in an exercise program—a behavior that the company believes can be reinforced through this approach . some of the patients carried the a118g , which is a genetic variant for the mu opioid receptor , and the company planned to determine whether their response to treatment differed . the company contracted the phase ii trial operations to lightlake sinclair of helsinki , finland . on august 8 , 2012 , lightlake announced the final data from the phase ii trial investigating the use of naloxone intra-nasally as a treatment for binge eating disorder . results from this study have been very encouraging , whereby patients receiving naloxone demonstrated a significant reduction over placebo in reducing bingeing . in addition , the patients receiving the naloxone nasal spray lost weight in the second half of the study and it would appear that patients with the highest bmi tended to reduce their bingeing the most . on may 23 , 2013 , lightlake presented the results of the company 's phase ii clinical trial of its nasal spray treatment for binge eating disorder at the american psychiatric association ( “ apa ” ) annual meeting in san francisco . binge eating disorder has been added to the fifth edition of the apa 's diagnostic and statistical manual of mental disorders ( “ dsm-5 ” ) , which was launched at the apa annual meeting . dsm-5 is used by clinicians and researchers to diagnose and classify mental disorders in order to improve diagnoses , treatment , and research . this manual is the product of more than 10 years of effort by hundreds of international experts in all aspects of mental health . dsm-5 diagnostic criteria are concise and explicit , intended to facilitate an objective assessment of symptom presentations in a variety of clinical settings from inpatient to primary care . story_separator_special_tag lightlake has not had material reclassifications , mergers , consolidations , or purchase or sale of a significant amount of assets not in the ordinary course of business . lightlake is required to comply with all regulations , rules , and directives of governmental authorities and agencies applicable to the clinical testing and manufacturing of pharmaceutical product . lightlake is required to apply for or have any government approval for the company 's products or services . results of operations the following compares lightlake 's operations for the years ended july 31 , 2013 to the same period at july 31 , 2012. revenues lightlake did not have any revenues during the years ended july 31 , 2013 or 2012 , and has generated no revenues since inception as the company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced . all losses accumulated since inception has been considered as part of the company 's development stage activities . general and administrative expenses lightlake 's operating expenses were incurred in the amounts of $ 4,284,574 and $ 12,335,706 for the years ended july 31 , 2013 and 2012 , respectively . the difference in the year over year change of $ 8,051,132 was primarily due to stock based compensation issued to outside consultants in the amount of $ 7,542,133 during the year ended july 31 , 2012. research and development lightlake spent $ 282,670 and $ 506,169 during the years ended july 31 , 2013 and 2012 , respectively . this decrease was the result of the company 's phase ii clinical testing that was occurring during the year ended july 31 , 2012. the company does not anticipate any decreases in expenditures related to research and development ; however , the company 's research and development initiatives and processes are dependent on the ability of the company to raise capital . interest expense during the years ended july 31 , 2013 and 2012 , lightlake 's interest expense was $ 553,045 and $ 61,389 , respectively . the increase in fiscal 2013 was due to an increase in borrowings of $ 604,500 to fund the operations of the company . net loss the comparable net loss for the year ended july 31 , 2013 and since inception was $ 4,655,493 and $ 28,584,388 , respectively , as compared to the net loss for the same year ended july 31 , 2012 and since inception of $ 12,421,188 and $ 23,928,895 , respectively . included in these net losses was the recognition of interest expense , derived from the issuance of convertible notes payable and the issuance of common stock to outside consultants for services rendered in the amount of $ 937,353 in 2013 and $ 10,048,857 during the same period in 2012. additionally , lightlake has recognized debt discounts and beneficial conversion features of our derivative debt contracts arising out of the company 's convertible notes payable . 13 lightlake has not attained profitable operations and is dependent upon obtaining financing to pursue its objectives and further certain planned initiatives . in their report on the company 's financial statements at july 31 , 2013 and july 31 , 2012 , the company 's auditors raised substantial doubt about the company 's ability to continue as a going concern . story_separator_special_tag actual results could differ from those estimates . lightlake issues restricted stock to consultants for various services and employees for compensation . cost for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued , whichever is measurable more reliably measurable . the value of the common stock is measured at the earlier of ( i ) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached or ( ii ) the date at which the counterparty 's performance is complete . lightlake issues options and warrants to consultants , directors , and officers as compensation for services . these options and warrants are valued using the black-scholes model , which focuses on the current stock price and the volatility of moves to predict the likelihood of future stock moves . this method of valuation is typically used to accurately price stock options and warrants based on the price of the underlying stock . long-lived assets such as property , equipment and identifiable intangibles are reviewed for impairment whenever facts and circumstances indicate that the carrying value may not be recoverable . when required impairment losses on assets to be held and used are recognized based on the fair value of the asset . the fair value is determined based on estimates of future cash flows , market value of similar assets , if available , or independent appraisals , if required . if the carrying amount of the long-lived asset is not recoverable from its undiscounted cash flows , an impairment loss is recognized for the difference between the carrying amount and fair value of the asset . when fair values are not available , lightlake estimates fair value using the expected future cash flows discounted at a rate commensurate with the risk associated with the recovery of the assets . the company did not recognize any impairment losses for any periods presented . 15 fair value estimates used in preparation of the consolidated financial statements are based upon certain market assumptions and pertinent information available to management . the respective carrying value of certain on-balance-sheet financial instruments approximated their fair values . these financial instruments include cash , accounts receivable , accounts payable , and accrued expenses . fair values were assumed to approximate carrying values for these financial instruments since they are short-term in nature and their carrying amounts approximate fair values or they are receivable or payable on demand . the fair value of lightlake 's notes payable is estimated based upon the quoted

