Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 4,081,478 $ 5,308,900
Trade accounts receivable, less allowance for doubtful accounts of $47,789 and $35,899 790,963 645,254
Inventories, less reserve of $385,267 and $270,797 3,682,668 3,543,526
Note receivable   1,110,982
Prepaid expenses 89,320 109,648
Other assets 35,334 15,605
Total current assets 8,679,763 10,733,915
Property and equipment 3,360,719 3,172,715
Accumulated depreciation and amortization (2,425,969) (2,091,230)
Net property and equipment 934,750 1,081,485
Goodwill 2,396,289 2,396,289
Other intangible assets, less accumulated amortization of $806,944 and $592,645 2,670,032 2,750,010
Deposits on equipment 3,200  
Other assets, net 25,415 58,510
Total assets 14,709,449 17,020,209
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued liabilities 1,591,141 1,270,937
Related party payable 13,421 35,212
Accrued compensation and benefits 219,714 213,414
Current portion of deferred rent 45,193 80,131
Other current liabilities 65 3,434
Total current liabilities 1,869,534 1,603,128
Convertible promissory notes to related parties, net of debt discount 2,293,346 2,231,588
Deferred rent, less current portion 1,329 25,882
Total liabilities 4,164,209 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 49,998,084 49,386,782
Accumulated deficit (39,469,297) (36,243,417)
Total stockholders' equity 10,545,240 13,159,611
Total liabilities and stockholders' equity $ 14,709,449 $ 17,020,209