XML 34 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
BALANCE SHEET (Unaudited) (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current Assets    
Cash and cash equivalents $ 354,601 $ 313,073
Accounts receivable 334,110 315,277
Inventory 576,960 256,842
Prepaid expenses and other assets 114,917 120,475
Total current assets 1,380,588 1,005,667
Long Term Assets    
Letter of Credit 509,287 85,215
Property and equipment, net 2,838,082 3,188,998
Total long term assets 3,347,369 3,274,213
TOTAL ASSETS 4,727,957 4,279,880
Current Liabilities    
Accounts payable 146,444 214,632
Accrued expenses and other 135,360 351,460
Accrued Liquidated Damages 36,178 36,178
Derivative Liabilities 13,870,806 11,031,432
Current portion of Convertible Notes Payable, Net 0 108,122
Current portion of Convertible Notes Payable to Related Party, Net 0 1,273,567
Total Current Liabilities 14,188,788 13,015,391
Long term portion of Convertible Notes Payable, Net 166,297 0
Total Liabilities 14,355,085 13,015,391
Commitment & Contingencies    
Dividends payable 972,259 650,616
Convertible, Redeemable Preferred Stock    
Discount on Preferred Stock (2,690,626) (4,853,776)
Net Preferred Stock 5,371,362 3,208,212
Total Commitment & Contingencies 6,343,621 3,858,828
Stockholders' Equity (Deficit)    
Common stock, $0.00005 par value; authorized 200,000,000 shares; issued and outstanding 15,886,421 and 14,139.621 shares, March 31, 2012 and December 31, 2011, respectively 875 707
Additional paid-in capital 93,398,876 91,262,428
Accumulated deficit (109,370,500) (103,857,474)
Total Stockholders' Equity (Deficit) (15,970,749) (12,594,339)
TOTAL LIABILITIES & CONVERTIBLE REDEEMABLE PREFERRED STOCK & STOCKHOLDERS' EQUITY (DEFICIT) 4,727,957 4,279,880
Series I [Member]
   
Convertible, Redeemable Preferred Stock    
Convertible, Redeemable Preferred Stock 4,735,291 4,735,291
Series II [Member]
   
Convertible, Redeemable Preferred Stock    
Convertible, Redeemable Preferred Stock $ 3,326,697 $ 3,326,697