Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.3.0.15
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 1,172,010 $ 136,030
Restricted cash 91,000  
Accounts receivable, net 804,546 799,185
Inventories 719,821 599,402
Other current assets 172,235 197,565
Total current assets 2,959,612 1,732,182
Property and equipment, net 34,717 112,997
Deferred financing costs, net   56,732
Goodwill 11,670,446 11,670,446
Intangible assets, net 1,802,397 1,983,657
Total other assets 13,472,843 13,710,835
Total Assets 16,467,172 15,556,014
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 1,605,889 2,402,950
Accrued liabilities and expenses 1,211,248 1,157,873
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 78,863 170,033
Total current liabilities 2,969,592 5,894,602
Derivative liability – long term   1,282,077
Deferred lease liability 108,862  
Notes payable – long term 916,165 252,464
Total long-term liabilities 1,025,027 1,534,541
Commitments and contingencies    
Preferred stock, undesignated, par value $.001 per share; 15,000,000 shares authorized; 753 issued and 678 outstanding at September 30, 2011; 482 issued and outstanding at December 31, 2010 0 0
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 124,576,751 121,995,117
Accumulated deficit (114,384,611) (115,513,353)
Total stockholders’ equity 10,296,306 6,583,025
Total Liabilities and Stockholders’ Equity 16,467,172 15,556,014
Redeemable Convertible Preferred Stock [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock 856,434 890,475
RedeemablePreferredStockSeriesB [Member]
    
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Redeemable preferred stock $ 1,319,813 $ 653,371