Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 1,085,509 $ 3,014,656
Trade accounts receivable, less allowance for doubtful accounts of $55,429 and $52,912 513,073 564,474
Inventories, less reserve of $1,456,585 and $895,415 1,457,352 2,977,047
Prepaid expenses 129,904 65,749
Other assets 8,972 26,359
Total current assets 3,194,810 6,648,285
Property and equipment 509,247 3,279,121
Accumulated depreciation and amortization (347,024) (2,536,144)
Net property and equipment 162,223 742,977
Goodwill    1,988,920
Other intangible assets, less accumulated amortization of $811,966 and $879,490 1,446,355 2,543,969
Other assets, net 12,365 23,857
Total assets 4,815,753 11,948,008
Current Liabilities:    
Accounts payable 902,962 825,100
Accrued liabilities 395,981 245,816
Related party payable 42,485 18,151
Accrued compensation and benefits 172,783 206,803
Convertible promissory notes to related parties, net of debt discount 2,357,925  
Accrued interest on convertible promissory notes 84,000  
Current portion of deferred rent 2,659 25,882
Other current liabilities 491 74
Total current liabilities 3,959,286 1,321,826
Convertible promissory notes to related parties, net of debt discount   2,314,854
Total liabilities 3,959,286 3,636,680
Commitments and contingencies      
Stockholders' Equity:    
Common stock, $.001 par value, 40,000,000 and 30,000,000 shares authorized, 16,452,738 issued and outstanding 16,453 16,453
Additional paid-in capital 50,051,448 50,007,362
Accumulated deficit (49,211,434) (41,712,487)
Total stockholders' equity 856,467 8,311,328
Total liabilities and stockholders' equity $ 4,815,753 $ 11,948,008