Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 3,541,429 $ 5,308,900
Trade accounts receivable, less allowance for doubtful accounts of $35,789 and $35,899 3,517,959 645,254
Inventories, less reserve of $354,885 and $270,797 3,628,615 3,543,526
Note receivable   1,110,982
Prepaid expenses 136,513 109,648
Other assets 37,203 15,605
Total current assets 10,861,719 10,733,915
Property and equipment 3,356,926 3,172,715
Accumulated depreciation and amortization (2,320,048) (2,091,230)
Net property and equipment 1,036,878 1,081,485
Goodwill 2,396,289 2,396,289
Other intangible assets, less accumulated amortization of $733,422 and $592,645 2,685,297 2,750,010
Deposits on equipment 12,200  
Other assets, net 26,955 58,510
Total assets 17,019,338 17,020,209
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued liabilities 2,863,434 1,270,937
Related party payable 81,125 35,212
Accrued compensation and benefits 244,751 213,414
Current portion of deferred rent 64,503 80,131
Other current liabilities 215 3,434
Total current liabilities 3,254,028 1,603,128
Convertible promissory notes to related parties, net of debt discount 2,272,158 2,231,588
Deferred rent, less current portion 2,658 25,882
Total liabilities 5,528,844 3,860,598
Stockholders' Equity:    
Common stock, $.001 par value, 30,000,000 and 25,000,000 shares authorized, 16,452,738 and 16,245,503 issued and outstanding 16,453 16,246
Additional paid-in capital 49,914,140 49,386,782
Accumulated deficit (38,440,099) (36,243,417)
Total stockholders' equity 11,490,494 13,159,611
Total liabilities and stockholders' equity $ 17,019,338 $ 17,020,209