Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Sep. 30, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 4,297,721 $ 3,014,656
Trade accounts receivable, less allowance for doubtful accounts of $57,931 and $52,912 594,640 564,474
Inventories, less reserve of $1,524,419 and $895,415 1,336,677 2,977,047
Prepaid expenses 92,890 65,749
Other assets 8,772 26,359
Total current assets 6,330,700 6,648,285
Property and equipment 509,247 3,279,121
Accumulated depreciation and amortization (364,131) (2,536,144)
Net property and equipment 145,116 742,977
Goodwill    1,988,920
Other intangible assets, less accumulated amortization of $800,080 and $879,490 1,418,841 2,543,969
Other assets, net 9,295 23,857
Total assets 7,903,952 11,948,008
Current Liabilities:    
Accounts payable 772,642 825,100
Accrued liabilities 135,707 245,816
Related party payable 3,868 18,151
Accrued compensation and benefits 91,337 206,803
Current portion of deferred rent 1,330 25,882
Other current liabilities 280 74
Total current liabilities 1,005,164 1,321,826
Convertible promissory notes to related parties, net of debt discount   2,314,854
Total liabilities 1,005,164 3,636,680
Commitments and contingencies      
Stockholders Equity:    
Series B convertible preferred stock, $.001 par value, aggregate liquidation preference of $6,000,000; 1,000,000 shares authorized, 600,000 and 0 issued and outstanding 5,195,225   
Common stock, $.001 par value, 40,000,000 and 30,000,000 shares authorized, 17,452,738 and 16,452,738 issued and outstanding 17,453 16,453
Additional paid-in capital 50,638,575 50,007,362
Accumulated deficit (48,952,465) (41,712,487)
Total stockholders' equity 6,898,788 8,311,328
Total liabilities and stockholders' equity $ 7,903,952 $ 11,948,008