XML 18 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 3,729,829 $ 4,681,683
Accounts receivable 643,927 2,854,038
Accounts receivable – Tarsa 191,930 8,193
Inventory, net 1,418,630 1,283,550
Due from former China Joint Venture partner 600,000 600,000
Prepaid expenses and other current assets 723,963 862,761
Total Current Assets 7,308,279 10,290,225
Noncurrent inventory 1,799,569 1,946,647
Property, plant and equipment, net 3,052,489 2,977,058
Patents and other intangibles, net 2,006,707 2,020,458
Other assets 355,663 960,781
Total Assets 14,522,707 18,195,169
Current Liabilities:    
Accounts payable 1,263,201 1,472,925
Accrued expenses 1,580,641 2,094,449
Accrued interest – Victory Park 6,071,713  
Current portion – Deferred licensing revenues 1,450,761 1,262,622
Current portion – Deferred gain on sale/leaseback 116,760 116,760
Current portion – Capital lease obligations 35,356  
Embedded conversion feature liability 9,550,000 12,470,000
Note payable – Victory Park, net of discount of $4,491,784 at March 31, 2012 33,526,966  
Notes payable – Levys 750,000 750,000
Total Current Liabilities 54,345,398 5,696,756
Note payable – Victory Park, net of discount of $5,335,294 at December 31, 2011   32,683,456
Notes payable – Levys 13,987,518 13,987,518
Accrued interest 7,676,074 11,827,982
Embedded conversion feature liability 9,550,000 12,470,000
Deferred licensing revenues, excluding current portion 5,846,920 6,101,287
Deferred gain on sale/leaseback, excluding current portion 603,293 632,483
Capital lease obligations, excluding current portion 57,263  
Deferred compensation 505,125 492,851
Total Liabilities 83,021,591 83,892,333
Stockholders’ Deficit:    
Common Stock – par value $.01 per share, authorized 275,000,000 shares; issued 95,374,927 shares at March 31, 2012 and 95,215,599 at December 31, 2011 953,749 952,156
Additional paid-in capital 116,085,046 115,691,958
Accumulated deficit (185,537,679) (182,341,278)
Total Stockholders’ Deficit (68,498,884) (65,697,164)
Total Liabilities and Stockholders’ Deficit $ 14,522,707 $ 18,195,169