Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash $ 28,644,004 $ 6,420,506
Accounts receivable, net 15,794 137,958
Inventory 821,549 632,000
Prepaid expenses and other 554,544 257,899
Assets associated with discontinued operations, current 10,630 2,784,640
Total current assets 30,046,521 10,233,003
Property and equipment 1,441,229 1,366,105
Less accumulated depreciation and amortization 977,960 960,726
Property, Plant and Equipment, Net, Total 463,269 405,379
Patents and trademarks 106,592 63,643
Less accumulated amortization 21,171 21,171
Finite-Lived Intangible Assets, Net, Total 85,421 42,472
Other assets 598,709 7,421
Assets associated with discontinued operations   174,463
Total assets 31,193,920 10,862,738
Current liabilities:    
Accounts payable 681,754 1,357,796
Accrued liabilities and other 2,087,722 1,014,130
Note payable to finance company   62,411
Derivative liabilities, current 568,930 405,524
Liabilities associated with discontinued operations, current 10,064 1,104,578
Total current liabilities 3,348,470 3,944,439
Note payable to investor, net of discount of $543,612 6,456,388  
Derivative liabilities   2,077,799
Liabilities associated with discontinued operations   672,924
Other liabilities 257,315 35,831
Total liabilities 10,062,173 6,730,993
Commitments and contingencies      
Stockholders' equity:    
Preferred stock; $.001 par value; 5,000,000 shares authorized; 9,083 Series B shares and 1,000 Series C shares issued and outstanding at December 31, 2011, and 10,000 Series B shares and 1,000 Series C shares issued and outstanding at December 31, 2010 10 11
Common stock; $.001 par value; 200,000,000 shares authorized; 95,398,961 and 86,319,913 shares issued and outstanding at December 31, 2011 and 2010, respectively 95,399 86,320
Additional paid-in capital 266,393,645 254,915,713
Accumulated deficit (245,357,307) (250,870,299)
Total stockholders' equity 21,131,747 4,131,745
Total liabilities and stockholders' equity $ 31,193,920 $ 10,862,738