XML 34 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 3,111,342 $ 8,995,571
Cash restricted pursuant to letters of credit 407,463 250,000
Accounts receivable 3,552 37,065
Stock subscriptions receivable    6,667
Prepaid expenses and other current assets 218,409 274,208
Total current assets 3,740,766 9,563,511
Property and Equipment, at cost:    
Computer equipment 332,287 298,290
Office and laboratory equipment (including assets under capitalized leases) 689,077 624,817
Furniture and fixtures 169,581 186,837
Manufacturing equipment 341,620 156,435
Leasehold improvements 187,264 187,264
Property and equipment, at cost 1,719,829 1,453,643
Less-Accumulated depreciation and amortization (1,156,232) (1,135,912)
Net property and equipment (including assets under capitalized leases) 563,597 317,731
Other Assets:    
Intangible assets, net of accumulated amortization 9,625,000 9,625,000
Deposits and other assets 10,816 20,565
Total other assets 9,635,816 9,645,565
Total assets 13,940,179 19,526,807
Current Liabilities:    
Accounts payable 683,672 365,298
Deferred revenue 123,721 123,708
Current portion of notes payable and capital lease obligation, net of discounts 2,405 2,288
Derivative warrant liability 392,536 1,035,337
Accrued expenses and other liabilities 742,979 965,832
Total current liabilities 1,945,313 2,492,463
Notes Payable and capital lease obligation, net of current portion and discounts 2,656 3,888
Deferred revenue, net of current portion    61,867
Total liabilities 1,947,969 2,558,218
Series C, $0.01 par value, authorized 10,000 shares, issued and outstanding 9,974.185 shares at June 30, 2012 and December 31, 2011 100 100
Series D, $0.01 par value, authorized 3,600,000 shares, issued and outstanding 3,006,000 shares at June 30, 2012 and December 31, 2011 (preference in liquidation of $3,006,000 at June 30, 2012) 30,060 30,060
Common Stock, $0.01 par value, authorized 150,000,000 shares, issued and outstanding 39,615,344 and 38,543,944 shares at June 30, 2012 and December 31, 2011, respectively 396,156 385,442
Additional paid-in capital 99,276,015 98,116,327
Common stock subscribed for but not paid for or issued, 0 and 33,333 shares at June 30, 2012 and December 31, 2011, respectively    6,667
Accumulated deficit (87,710,121) (81,570,007)
Total stockholders' equity 11,992,210 16,968,589
Total liabilities and stockholders' equity $ 13,940,179 $ 19,526,807