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Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 4,681,683 $ 12,200,800
Accounts receivable 2,854,038 1,553,091
Accounts receivable – Tarsa 8,193 186,263
Inventory, net 1,283,550 1,417,934
Due from former China joint venture partner 600,000  
Prepaid expenses and other current assets 862,761 699,950
Total Current Assets 10,290,225 16,058,038
Noncurrent inventory 1,946,647 2,881,980
Property, plant and equipment, net 2,977,058 3,190,117
Patents and other intangibles, net 2,020,458 2,670,044
Investment in China joint venture   3,175,925
Deferred financing costs, net 619,767 922,267
Other assets 341,014 313,382
Total Assets 18,195,169 29,211,753
LIABILITIES AND STOCKHOLDERS’ DEFICIT    
Accounts payable 1,472,925 974,998
Accrued expenses 2,094,449 2,834,345
Current portion - deferred licensing revenues 1,262,622 2,290,916
Current portion – deferred gain on sale/leaseback 116,760  
Notes payable – Levys 750,000  
Due to China joint venture partner   1,200,000
Total Current Liabilities 5,696,756 7,300,259
Notes payable – Levys, excluding current portion 13,987,518 14,737,518
Note payable – Victory Park –net of discount of $5,335,294 in 2011 and $7,939,433 in 2010 32,683,456 25,060,567
Accrued interest –Victory Park and Levys, excluding current portion 11,827,982 9,285,359
Embedded conversion feature liability 12,470,000 22,860,000
Accrued expenses, excluding current portion   162,296
Deferred licensing revenues, excluding current portion 6,101,287 11,152,037
Deferred gain on sale/leaseback, excluding current portion 632,483  
Deferred compensation 492,851 471,890
Total Liabilities 83,892,333 91,029,926
Common Stock - par value $.01 per share, authorized 275,000,000 shares in 2011 and 2010; issued and outstanding: 95,215,599 shares in 2011 and 92,448,947 shares in 2010 952,156 924,756
Additional paid-in capital 115,691,958 112,503,058
Accumulated deficit (182,341,278) (175,245,720)
Treasury Stock – at cost (26,650 shares in 2010)   (267)
Total Stockholders’ Deficit (65,697,164) (61,818,173)
Total Liabilities and Stockholders’ Deficit $ 18,195,169 $ 29,211,753