|
|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
2009
|
|
|
2008
|
|
|
ASSETS
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
CURRENT
ASSETS
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$ |
1,374,947 |
|
|
$ |
868,208 |
|
|
Restricted
cash
|
|
|
20,011 |
|
|
|
50,000 |
|
|
Accounts
receivable
|
|
|
216,622 |
|
|
|
209,117 |
|
|
Inventories
|
|
|
735,235 |
|
|
|
571,831 |
|
|
Deposits
|
|
|
13,872 |
|
|
|
382,236 |
|
|
Prepaid
income taxes
|
|
|
3,176 |
|
|
|
6,600 |
|
|
Prepaid
expenses and other current assets
|
|
|
59,497 |
|
|
|
235,111 |
|
|
Total
current assets
|
|
|
2,423,360 |
|
|
|
2,323,103 |
|
|
PROPERTY
AND EQUIPMENT, NET
|
|
|
231,489 |
|
|
|
252,249 |
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
ASSETS
|
|
|
|
|
|
|
|
|
|
Intangible
assets, net
|
|
|
243,184 |
|
|
|
279,658 |
|
|
TOTAL
ASSETS
|
|
$ |
2,898,033 |
|
|
$ |
2,855,010 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$ |
137,068 |
|
|
$ |
263,486 |
|
|
Accrued
employee compensation
|
|
|
118,675 |
|
|
|
161,374 |
|
|
Accrued
professional fees and other
|
|
|
300,483 |
|
|
|
278,982 |
|
|
Deferred
revenue
|
|
|
144,170 |
|
|
|
16,705 |
|
|
Total
current liabilities
|
|
|
700,396 |
|
|
|
720,547 |
|
|
LONG
TERM LIABILITIES
|
|
|
|
|
|
|
|
|
|
Deferred
revenue
|
|
|
2,759 |
|
|
|
10,821 |
|
|
TOTAL
LIABILITIES
|
|
|
703,155 |
|
|
|
731,368 |
|
|
|
|
|
|
|
|
|
|
|
|
COMMITMENTS
AND CONTINGENCIES (Note 4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
|
Preferred
stock, $.01 par value; 1,000,000 shares authorized; 156,980 shares issued
and outstanding on September 30, 2009 and 0 shares on December 31,
2008
|
|
|
1,570 |
|
|
|
- |
|
|
Common
stock, $.01 par value; 20,000,000 shares authorized; 2,195,283 shares
issued and outstanding on September 30, 2009 and on December 31,
2008
|
|
|
21,953 |
|
|
|
21,953 |
|
|
Warrants
to acquire preferred stock and common stock
|
|
|
882,253 |
|
|
|
- |
|
|
Additional
paid-in capital
|
|
|
8,328,872 |
|
|
|
6,803,530 |
|
|
Accumulated
deficit
|
|
|
(7,039,770 |
) |
|
|
(4,701,841 |
) |
|
Total
stockholders' equity
|
|
|
2,194,878 |
|
|
|
2,123,642 |
|
|
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
$ |
2,898,033 |
|
|
$ |
2,855,010 |
|
|
|