XML 45 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 599,743 $ 346,905
Accounts receivable, net of allowance 438,950 192,015
Inventories 3,625,821 3,088,953
Prepaid expenses and deposits 168,358 165,339
Total current assets 4,832,872 3,793,212
Property and equipment, net 3,023,131 2,005,215
Other long-term and intangible assets 0 68,284
Total assets 7,856,003 5,866,711
Current liabilities:    
Accounts payable 1,254,422 890,394
Accrued liabilities 653,162 446,434
Due to investor 400,000 0
Derivative liabilities - 8% convertible promissory notes 1,330,000 830,000
Total current liabilities 3,637,584 2,166,828
8% convertible promissory notes, net of discounts 7,041,112 5,671,162
Fair value of 10% convertible preferred stock warrants 122,357 81,716
Total liabilities 10,801,053 7,919,706
Commitments and contingencies      
10% convertible preferred stock, no par value; authorized 880,000 shares; 702,123 and 706,023 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively, net of discounts 6,568,316 5,922,612
Stockholders' deficit:    
Common stock, no par value; authorized, 100,000,000 shares; 30,315,663 and 28,820,173 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively 29,878,727 27,103,454
Accumulated deficit (39,392,093) (35,079,061)
Total stockholders' deficit (9,513,366) (7,975,607)
Total liabilities and stockholders' deficit $ 7,856,003 $ 5,866,711