Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

 v2.3.0.11
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 882,484 $ 136,030
Accounts receivable, net 1,245,055 799,185
Inventories 595,968 599,402
Other current assets 265,475 197,565
Total current assets 2,988,982 1,732,182
Property and equipment, net 64,177 112,997
Deferred financing costs, net   56,732
Goodwill 11,670,446 11,670,446
Intangible assets, net 1,862,817 1,983,657
Total other assets 13,533,263 13,710,835
Total Assets 16,586,422 15,556,014
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 1,871,198 2,402,950
Accrued liabilities and expenses 1,110,529 1,157,873
Note payable – current 85,768 47,536
Note 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 89,063 170,033
Total current liabilities 3,156,558 5,894,602
Derivative liability – long term   1,282,077
Deferred lease liability 98,218  
Note payable – long term 928,322 252,464
Total long-term liabilities 1,026,540 1,534,541
Preferred stock, undesignated, par value $.001 per share; 15,000,000 shares authorized; 748 issued and outstanding at June 30, 2011; 482 issued and outstanding at December 31, 2010 0 0
Common stock, par value $.001 per share; 190,000,000 shares authorized; 102,037,171 and 101,258,725 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively 102,039 101,261
Additional paid-in-capital 124,387,048 121,995,117
Accumulated deficit (114,417,686) (115,513,353)
Total stockholders’ equity 10,071,401 6,583,025
Total Liabilities and Stockholders’ Equity 16,586,422 15,556,014
Redeemable Convertible Preferred Stock [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock 968,701 890,475
Redeemable Preferred Stock SeriesB [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock $ 1,363,222 $ 653,371