OTHER BALANCE SHEET INFORMATION

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Note 4 - OTHER BALANCE SHEET INFORMATION

Components of selected captions in the accompanying balance sheets as of December 31, 2011 and December 31, 2010 consist of:

	31-Dec-11			31-Dec-10
Prepaid expenses:
Prepaid insurance	$	37,274		$	8,475
Other		13,017			7,292
Prepaid expenses	$	50,291		$	15,766
Property and equipment:
Computers and office equipment	$	30,421		$	20,689
Machinery and equipment		254,827			112,422
Leasehold improvements		11,288			-
Less: accumulated depreciation		(126,727	)		(103,159	)
Property and equipment, net	$	169,808		$	29,952
Accrued expenses:
Payroll and related	$	-		$	458,250
Professional fees		25,702			153,694
Accrued interest		-			22,054
Other		13,530			16,000
Accrued expenses	$	39,232		$	649,998