Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 1,915,404 $ 3,014,656
Trade accounts receivable, less allowance for doubtful accounts of $33,232 and $52,912 525,432 564,474
Inventories, less reserve of $1,138,025 and $895,415 2,482,619 2,977,047
Prepaid expenses 86,471 65,749
Other assets 862 26,359
Total current assets 5,010,788 6,648,285
Property and equipment 1,672,699 3,279,121
Accumulated depreciation and amortization (1,047,147) (2,536,144)
Net property and equipment 625,552 742,977
Goodwill 1,988,920 1,988,920
Other intangible assets, less accumulated amortization of $952,915 and $879,490 2,501,183 2,543,969
Other assets, net 22,315 23,857
Total assets 10,148,758 11,948,008
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued liabilities 1,037,889 1,070,916
Related party payable 17,961 18,151
Accrued compensation and benefits 160,774 206,803
Current portion of deferred rent 4,917 25,882
Other current liabilities 74 74
Total current liabilities 1,221,615 1,321,826
Convertible promissory notes to related parties, net of debt discount 2,336,079 2,314,854
Accrued interest 24,000  
Total liabilities 3,581,694 3,636,680
Commitments and contingencies      
Stockholders' Equity:    
Common stock, $.001 par value, 30,000,000 shares authorized, 16,452,738 issued and outstanding 16,453 16,453
Additional paid-in capital 50,033,601 50,007,362
Accumulated deficit (43,482,990) (41,712,487)
Total stockholders' equity 6,567,064 8,311,328
Total liabilities and stockholders' equity $ 10,148,758 $ 11,948,008