Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Stockholders' Equity (unaudited)

 v2.3.0.11
Condensed Consolidated Statement of Stockholders' Equity (unaudited) (USD $)
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Balance at Jan. 01, 2011        
Shares issued to director and management at approximately $0.125 per share $ 55,500 $ 409 $ 55,091  
Shares issued to director and management at approximately $0.125 per share (in Shares)   409,056    
Shares issued to director for consulting fees at approximately $0.15 per share (1) 25,000 177 24,823  
Shares issued to director for consulting fees at approximately $0.15 per share (1) (in Shares)   177,083    
Shares issued on conversion of preferred stock at approximately $0.18 per share 25,000 192 24,808  
Shares issued on conversion of preferred stock at approximately $0.18 per share (in Shares)   192,307    
Stock-based compensation expense related to employee stock options 15,988   15,988  
Warrants issued with redeemable convertible preferred stock 427,895   427,895  
Beneficial conversion feature of redeemable convertible preferred stock 427,895   427,895  
Retirement of secured convertible debentures 1,158,729   1,158,729  
Retirement of derivative liability related to warrant obligation 570,569   570,569  
Accretion of preferred stock discount (193,797)   (193,797)  
Accretion of preferred stock dividend (120,070)   (120,070)  
Net Income 1,095,667     1,095,667
Balance at Jun. 30, 2011 $ 10,071,401 $ 102,039 $ 124,387,048 $ (114,417,686)
Balance (in Shares) at Jun. 30, 2011   102,037,171