Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 13,907,401 $ 8,190,781
Accounts receivable 1,050,089 797,654
Inventory 3,151,109 1,760,540
Prepaid expenses and other 187,256 133,500
Total current assets 18,295,855 10,882,475
Property and equipment, net 108,534 247,824
Goodwill   169,987
Intangible assets 573,731 899,480
Deferred financing costs 1,252,443 295,276
Total Assets 20,230,563 12,495,042
Current liabilities:    
Accounts payable and accrued expenses 1,479,752 1,585,100
Current portion of long-term debt   434,734
Total current liabilities 1,479,752 2,019,834
Long-term debt 21,580,252 4,403,737
Note Payable - Revenue Interest Purchase Agreement 21,580,252  
Total liabilities 23,060,004 6,423,571
Shareholders' equity (deficit):    
Common stock, $.01 par value; 50,000,000 shares authorized; 11,122,573 and 11,062,188 shares issued and outstanding 111,226 110,622
Additional paid-in capital 54,908,226 54,391,784
Accumulated deficit (57,848,893) (48,430,935)
Total shareholders' equity (deficit) (2,829,441) 6,071,471
Total liabilities and Shareholders' equity $ 20,230,563 $ 12,495,042