XML 27 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2014
Dec. 31, 2013
ASSETS:    
Cash $ 3,618,268 $ 3,305,179
Accounts receivable, net 3,056,048 1,259,887
Inventory 2,510,558 2,752,636
Deferred tax asset 689,000 689,000
Prepaid expenses and other current assets 97,551 127,448
Total current assets 9,971,425 8,134,150
PROPERTY AND EQUIPMENT, net 3,556 5,988
Intangible assets, net 1,092,306 1,037,117
Long-term investments    50,000
Deposits 3,048 3,048
TOTAL ASSETS 11,070,335 9,230,303
LIABILITIES AND STOCKHOLDERS' EQUITY:    
Accounts payable 1,102,539 1,204,894
Accrued expenses and other liabilities 143,151 280,402
Income tax payable 104,000 48,000
Line of credit 437,089 437,089
Current Portion of Term Loan Agreement 502,495 489,129
Redemption of preferred stock payable    15,459
Total current liabilities 2,289,274 2,474,974
LONG-TERM DEBT 1,568,308 1,946,733
TOTAL LIABILITIES 3,857,582 4,421,707
CONTINGENCIES AND COMMITMENTS      
STOCKHOLDERS' EQUITY:    
Common stock, $.01 par value, 150,000,000 shares authorized; 8,194,812 and 8,110,853 issued and outstanding as of September 30, 2014 and December 31, 2013, respectively 81,949 81,109
Subscribed common stock 37 66
Additional paid-in capital 26,270,426 26,049,722
Accumulated deficit (19,139,659) (21,322,299)
Total stockholders' equity 7,212,753 4,808,598
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,070,335 $ 9,230,303