Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)

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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (USD $)
Convertible Series A [Member]
Preferred Stock [Member]
Convertible Series B [Member]
Preferred Stock [Member]
Convertible Series C [Member]
Preferred Stock [Member]
Convertible Series D [Member]
Preferred Stock [Member]
Preferred Stock [Member]
Common Stock [Member]
Stock Warrants [Member]
Additional Paid-In Capital [Member]
Accumulated Deficit [Member]
Total
BALANCE at Dec. 31, 2009 $ 1,523 $ 620 $ 0 $ 0 $ 2,143 $ 23,284 $ 1,352,165 $ 9,297,115 $ (7,986,620) $ 2,688,087
BALANCE (in shares) at Dec. 31, 2009 152,213 62,039 0 0 214,252 2,328,426        
Stock-based compensation 0 0 0 0 0 0 0 273,182 0 273,182
Stock option exercises 0 0 0 0 0 189 0 20,031 0 20,220
Stock option exercises (in shares)           18,897        
Issuance of convertible preferred stock 0 267 0 0 267 0 0 328,107 0 328,374
Issuance of convertible preferred stock (in shares) 0 26,672 0 0 26,672          
Issuance of common stock for services 0 0 0 0 0 170 0 25,800 0 25,970
Issuance of common stock for services (in shares)           17,000        
Offering costs for issuance of preferred stock 0 0 0 0 0 0 0 (53,689) 0 (53,689)
Issuance of warrants 0 0 0 0 0 0 307,416 0 0 307,416
Stock warrant exercise 1,255 0 0 0 1,255 0 (410,671) 1,830,691 0 1,421,275
Stock warrant exercise (in shares) 125,658 0 0 0 125,658          
Beneficial conversion of preferred stock 0 0 0 0 0 0 0 154,389 (154,389) 0
Conversion of preferred stock to common stock (157) 0 0 0 (157) 1,573 0 (1,416) 0 0
Conversion of preferred stock to common stock (in shares) (15,736) 0 0 0 (15,736) 157,360        
Common stock paid-in-kind dividends earned 0 0 0 0 0 0 0 0 (118,020) (118,020)
Series B dividend paid in cash 0 0 0 0 0 0 0 0 (7,212) (7,212)
Issuance of common stock for dividends paid-in-kind 0 0 0 0 0 1,902 0 221,027 (170,760) 52,169
Issuance of common stock for dividends paid-in-kind (in shares)           190,067        
Net loss 0 0 0 0 0 0 0 0 (3,128,262) (3,128,262)
BALANCE at Dec. 31, 2010 2,621 887 0 0 3,508 27,118 1,248,909 12,095,237 (11,565,263) 1,809,509
BALANCE (in shares) at Dec. 31, 2010 262,135 88,711 0 0 350,846 2,711,750        
Stock-based compensation 0 0 0 0 0 0 0 121,974 0 121,974
Stock option exercises 0 0 0 0 0 411 0 43,569 0 43,980
Stock option exercises (in shares)           41,103        
Issuance of convertible preferred stock 0 0 881 8 889 0 0 1,076,359 0 1,077,247
Issuance of convertible preferred stock (in shares) 0 0 88,098 843 88,941          
Issuance of common stock for services 0 0 0 0 0 200 0 16,800 0 17,000
Issuance of common stock for services (in shares) 0 0 0 0 0 20,000        
Offering costs for issuance of preferred stock 0 0 0 0 0 0 0 (794,012) 0 (794,012)
Deemed dividend associated with preferred stock 0 0 0 0 0          
Beneficial conversion of preferred stock           0 0 1,006,574 (1,006,574) 0
Issuance of warrants in connection short-term loans 0 0 0 0 0 0 249,348 0 0 249,348
Issuance of stock in lieu of cash for Board of Director fees 0 0 0 0 0 1,250 0 103,747 0 104,997
Issuance of stock in lieu of cash for Board of Director fees (in shares)           124,996        
Warrant modifications 0 0 0 0 0 0 704,844 0 (704,844) 0
Conversion of preferred stock to common stock (2,621) (887) 0 (1) (3,509) 36,623 0 (33,114) 0 0
Conversion of preferred stock to common stock (in shares) (262,135) (88,711) 0 (100) (350,946) 3,662,336        
Common stock paid-in-kind dividends earned 0 0 0 0 0 0 0 0 (164,904) (164,904)
Series B dividend paid in cash 0 0 0 0 0 0 0 0 (65,543) (65,543)
Issuance of common stock for dividends paid-in-kind 0 0 0 0 0 1,638 0 186,741 0 188,379
Issuance of common stock for dividends paid-in-kind (in shares)           163,808        
Net loss 0 0 0 0 0 0 0 0 (2,996,312) (2,996,312)
BALANCE at Dec. 31, 2011 $ 0 $ 0 $ 881 $ 7 $ 888 $ 67,240 $ 2,203,101 $ 13,823,875 $ (16,503,440) $ (408,336)
BALANCE (in shares) at Dec. 31, 2011 0 0 88,098 743 88,841 6,723,993