Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 11,802,608 $ 20,069,750
Accounts receivable, net of allowance for doubtful accounts of approximately $69,000 and $59,000, respectively 2,743,041 1,893,699
Inventory 3,346,115 3,398,438
Prepaid expenses and other 100,923 296,719
Total current assets 17,992,687 25,658,606
Property and equipment, net 613,174 381,689
Intangible assets 576,382 570,396
Deferred financing costs 914,931 1,073,579
Total Assets 20,097,174 27,684,270
Current liabilities:    
Accounts payable and accrued expenses 2,020,091 2,083,942
Current Deferred Revenue 14,118 14,118
Total current liabilities 2,034,209 2,098,060
Note Payable - Revenue Interest Purchase Agreement 28,173,877 25,363,695
Long Term Deferred Revenue 75,168 85,882
Total liabilities 30,283,254 27,547,637
Commitments and contingencies      
Shareholders' equity (deficit):    
Common stock, $.01 par value; 50,000,000 shares authorized; 17,466,381 and 17,339,561 shares issued and outstanding 174,664 173,395
Additional paid-in capital 73,264,241 72,369,016
Accumulated deficit (83,624,985) (72,405,778)
Total shareholders' equity (deficit) (10,186,080) 136,633
Total Liabilities and Shareholders' equity $ 20,097,174 $ 27,684,270