Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 20,069,750 $ 13,907,401
Accounts receivable, net of allowance for doubtful accounts of approximately $58,000 and $0, respectively 1,893,699 1,050,089
Inventory 3,398,438 3,151,109
Prepaid expenses and other 296,719 187,256
Total current assets 25,658,606 18,295,855
Property and equipment, net 381,689 108,534
Intangible assets 570,396 573,731
Deferred financing costs 1,073,579 1,252,443
Total Assets 27,684,270 20,230,563
Current liabilities:    
Accounts payable and accrued expenses 2,083,942 1,479,752
Current Deferred Revenue 14,118  
Total current liabilities 2,098,060 1,479,752
Long-term debt    
Note Payable - Revenue Interest Purchase Agreement 25,363,695 21,580,252
Long Term Deferred Revenue 85,882  
Total liabilities 27,547,637 23,060,004
Shareholders' equity (deficit):    
Common stock, $.01 par value; 50,000,000 shares authorized; 17,339,561 and 11,122,573 shares issued and outstanding 173,395 111,226
Additional paid-in capital 72,369,016 54,908,226
Accumulated deficit (72,405,778) (57,848,893)
Total shareholders' equity (deficit) 136,633 (2,829,441)
Total Liabilities and Shareholders' equity $ 27,684,270 $ 20,230,563