Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 15,622,932 $ 8,215,791
Accounts receivable, net of allowance for doubtful accounts of approximately $101,000 and $94,000, respectively 3,838,023 2,872,308
Inventory 3,539,957 3,213,620
Prepaid expenses and other 241,108 109,369
Total current assets 23,242,020 14,411,088
Property and equipment, net 663,910 619,028
Intangible assets 608,539 577,174
Deferred financing costs 908,684 793,499
Total Assets 25,423,153 16,400,789
Current liabilities:    
Accounts payable and accrued expenses 3,408,122 2,431,194
Current Deferred Revenue 14,118 14,118
Total current liabilities 3,422,240 2,445,312
Note Payable - Revenue Interest Purchase Agreement 25,426,647 25,085,777
Long Term Deferred Revenue 104,589 115,380
Total liabilities 28,953,476 27,646,469
Shareholders' equity (deficit):    
Common stock, $.01 par value; 50,000,000 shares authorized; 24,932,392 and 19,488,814 shares issued and outstanding 249,323 194,888
Additional paid-in capital 93,102,681 78,675,686
Accumulated deficit (96,882,327) (90,116,254)
Total shareholders' equity (deficit) (3,530,323) (11,245,680)
Total Liabilities and Shareholders' equity $ 25,423,153 $ 16,400,789