General form of registration statement for all companies including face-amount certificate companies

Balance Sheets

v2.4.0.6
Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Statement of Financial Position [Abstract]    
Cash and cash equivalents $ 222,775 $ 552,849
Restricted cash    20,104
Accounts receivable, net of allowances of $9,600 at December 31,2011 and $0 at December 31, 2010 269,237 233,846
Inventories 1,069,013 1,104,056
Deposits 6,472 6,472
Prepaid income taxes 4,739 1,442
Prepaid expenses and other current assets 143,591 196,756
Total current assets 1,715,827 2,215,435
PROPERTY AND EQUIPMENT, NET 89,171 192,777
Intangible assets, net 133,762 182,394
TOTAL ASSETS 1,938,760 2,590,606
Accounts payable 890,676 234,568
Accrued employee compensation 180,437 172,251
Accrued professional fees and other 397,738 337,698
Deferred revenue 36,669 27,153
Short-term debt 394,912   
Warrant derivative liability 341,310   
Total current liabilities 2,241,742 771,670
Deferred revenue 10,111 9,427
TOTAL LIABILITIES 2,251,853 781,097
Series A convertible preferred stock, $.01 par value; 313,960 shares authorized; 0 shares issued and outstanding on December 31, 2011 and 262,135 shares issued and outstanding on December 31, 2010    2,621
Series B convertible preferred stock, $.01 par value; 279,256 shares authorized; 0 shares issued and outstanding on December 31, 2011 and 88,711 shares on December 31, 2010    887
Series C convertible preferred stock, $.01 par value; 88,098 shares authorized; 88,098 shares issued and outstanding on December 31, 2011 and 0 shares on December 31, 2010 (Liquidation value of $1,101,225) 881   
Series D convertible preferred stock, $.01 par value; 850 shares authorized; 743 shares issued and outstanding on December 31, 2011 and 0 shares on December 31, 2010 (Liquidation value of $743,000) 7   
Common stock, $.01 par value; 20,000,000 shares authorized; 6,723,993 shares issued and outstanding on December 31, 2011 and 2,711,750 shares issued and outstanding on December 31, 2010 67,240 27,118
Warrants to acquire preferred stock and common stock 1,823,852 1,248,909
Additional paid-in capital 13,536,635 12,095,237
Accumulated deficit (15,741,708) (11,565,263)
Total stockholders' equity 1,809,509 1,809,509
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,938,760 $ 2,590,606