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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Dec. 31, 2011
Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (1,062,907) $ (833,365) $ (2,996,312) $ (3,128,262)
Adjustments to reconcile net loss to net cash used in operating activities        
Depreciation and amortization 29,323 40,587 141,315 197,431
Accretion of interest and amortization of debt issue costs 46,159 0 108,876 0
Stock-based compensation expense 8,868 68,966 121,974 273,181
Amortization of third party fees paid in restricted common stock 31,950 0    
Borrowings on promissory note     150,000 0
Change in fair value of warrant derivative liability 42,012 0 (430,423) 0
Bad debt expense     9,600 0
Changes in operating assets and liabilities:        
Accounts receivable 65,239 41,182 (44,991) (30,635)
Inventories 47,718 (36,214) 48,608 (465,706)
Deposits     0 175,538
Accounts payable 238,839 293,787 763,849 86,481
Accrued employee compensation 44,329 53,853 8,186 66,427
Deferred revenue and other accrued expenses (588) (84,682) (78,500) 67,912
Prepaid expenses and other current assets (75,679) (52,166) 55,955 (114,547)
Net cash used in operating activities (584,737) (508,052) (2,141,863) (2,872,180)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of property and equipment 0 (7,568) (2,642) (92,111)
Net cash used in investing activities 0 (7,568) (2,642) (92,111)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from stock option exercises 0 43,980 43,980 20,220
Net proceeds from the issuance of common stock 377,454 0    
Decrease in restricted cash     20,014 0
Proceeds from stock warrant exercises     0 1,421,275
Borrowings on convertible debt     412,000 0
Net proceeds from the issuance of preferred stock     1,338,437 465,867
Net cash provided by financing activities 377,454 43,980 1,814,431 1,907,362
Change in cash and cash equivalents (207,283) (471,640) (330,074) (1,056,929)
Cash and cash equivalents, beginning of period 222,775 552,849 552,849 1,609,778
Cash and cash equivalents, end of period 15,492 81,209 222,775 552,849
SUPPLEMENTAL INFORMATION:        
Income taxes paid 1,900 1,900 1,900 0
Income tax refund received     23,710 244,479
Issuance of preferred stock warrants to placement agent     94,313 18,122
Issuance of common stock warrants for services     0 116,234
Issuance of common stock for deferred board fees     104,997 0
Series B dividend paid in cash     65,543 7,212
Warrant modifications     704,844 0
Beneficial conversion feature on convertible preferred stock     1,006,574 154,389
Non-cash investing and financing activities:        
Issuance of common stock dividend on preferred stock 0 76,017 188,379 222,931
Issuance of common stock for services 85,950 0 4,999 25,970
Convertible debt exchanged for common stock $ 387,547 $ 0