Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.6
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 1,172,010 $ 136,030
Restricted cash on deposit 91,000  
Accounts receivable, net 804,546 799,185
Inventories 719,821 599,402
Prepaid expenses 137,997 163,327
Total current assets 2,925,374 1,697,944
Property and equipment, net 17,300 43,329
Deferred financing costs, net   56,732
Goodwill 11,670,446 11,670,446
Intangible assets, net 1,802,397 1,983,657
Deposits 34,238 34,238
Total other assets 13,507,081 13,745,073
Total Assets 16,449,755 15,486,346
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 1,605,889 2,402,950
Accrued liabilities and expenses 2,095,692 1,890,951
Notes payable – current 73,592 47,536
Notes payable– related party   25,114
Convertible debentures, net of debt discounts of $134,625   1,471,398
Derivative liability – current   619,698
Other current liabilities 59,865 151,035
Total current liabilities 3,835,038 6,608,682
Derivative liability – long term   1,282,077
Deferred lease liability 108,862 82,802
Notes payable – long term 916,165 252,464
Total long-term liabilities 1,025,027 1,617,343
Total redeemable preferred stock 2,176,247 1,543,846
Commitments and contingencies      
Common stock, par value $.001 per share; 190,000,000 shares authorized; 104,164,253 and 101,258,725 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively 104,166 101,261
Additional paid-in-capital 124,638,806 122,057,171
Accumulated deficit (115,329,529) (116,441,957)
Total stockholders’ equity 9,413,443 5,716,475
Total Liabilities and Stockholders’ Equity 16,449,755 15,486,346
Redeemable Preferred Stock [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock      
Series A Preferred Stock [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock 856,434 890,475
Series B Preferred Stock [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock $ 1,319,813 $ 653,371