Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 8,190,781 $ 1,799,048
Accounts receivable 797,654 407,350
Inventory 1,760,540 1,902,789
Prepaid expenses and other 133,500 74,437
Deferred financing costs 0 1,083,630
Total current assets 10,882,475 5,267,254
Property and equipment, net 247,824 500,742
Goodwill 169,987 0
Intangible assets 899,480 637,771
Deferred financing costs 295,276 0
Total Assets 12,495,042 6,405,767
Current liabilities:    
Accounts payable and accrued expenses 1,585,100 967,896
Current portion of long-term debt, related party 0 1,338,455
Current portion of long-term debt 434,734 7,080,512
Total current liabilities 2,019,834 9,386,863
Long-term debt 4,403,737 0
Preferred stock dividends payable 0 6,048,378
Warrant liability 0 2,669,815
Total liabilities 6,423,571 18,105,056
Commitments and contingencies      
Temporary equity:    
Convertible preferred stock 0 15,412,039
Stockholders' equity (deficit):    
Common stock, value 110,622 12,056
Additional paid-in capital 54,391,784 9,934,980
Accumulated deficit (48,430,935) (38,183,364)
Total stockholders' equity (deficit) 6,071,471 (27,111,328)
Total liabilities and stockholder's equity 12,495,042 6,405,767
Series B preferred stock
    
Temporary equity:    
Convertible preferred stock 0 4,243,948
Series C preferred stock
    
Temporary equity:    
Convertible preferred stock 0 8,092,568
Series D preferred stock
    
Temporary equity:    
Convertible preferred stock 0 3,075,523
Series A preferred stock
    
Stockholders' equity (deficit):    
Convertible preferred stock 0 1,125,000
Total stockholders' equity (deficit) $ 0 $ 1,125,000