XML 50 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash $ 1,887,163 $ 717,679
Accounts receivable, net of allowance of $60,000 ($76,000- 2011) 2,123,019 1,595,750
Inventory 817,685 783,442
Prepaid expenses and other current assets 290,402 95,399
Total current assets 5,118,269 3,192,270
Property, plant and equipment, net 3,723,908 4,019,829
Other assets 232,815 244,356
Goodwill 3,322,799 3,322,799
Other intangible assets, net 1,852,677 2,043,212
Total assets 14,250,468 12,822,466
Current liabilities:    
Accounts payable 1,417,460 1,666,963
Accrued expenses and other current liabilities 1,218,534 1,142,629
Revolving lines of credit 238,240 763,736
Short-term loan from related party    150,000
Current portion of long-term debt 908,744 460,598
Current portion of capital lease obligations 4,710 88,172
Total current liabilities 3,787,688 4,272,098
Long-term debt, net of unamortized discount of $44,000 ($88,000-2011) 1,483,676 2,819,783
Interest rate swap hedging liabilities 127,883 110,688
Capital lease obligations    11,133
Deferred tax liability 127,675 108,727
Commitments and contingencies (see Note 11)      
Stockholders' equity    
Common stock, $.02 par value; 200,000,000 shares authorized, 21,705,969 shares issued and outstanding (19,513,132 in 2011) 434,118 390,262
Additional paid-in capital 55,872,917 48,395,241
Accumulated other comprehensive loss (127,883) (110,688)
Accumulated deficit (47,455,606) (43,174,778)
Total stockholders' equity 8,723,546 5,500,037
Total liabilities and stockholders' equity $ 14,250,468 $ 12,822,466