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Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents of which $5,719,126 in 2012 and $5,215,349 in 2011 is interest bearing $ 13,204,067 $ 10,114,163
Short term investments 15,433,967 15,023,999
Accounts receivable, net of allowances for doubtful accounts of $100,000 in 2012 and 2011 (including amounts from related party 2012 - $2,263,508 2011 - $1,760,304) 3,422,653 4,695,410
Inventories 2,626,606 3,635,730
Prepaid expenses and other current assets 1,284,279 667,927
Total current assets 35,971,572 34,137,229
PROPERTY AND EQUIPMENT    
Machinery and equipment 1,901,185 2,945,324
Computer software 646,294 671,498
Office equipment and furniture and fixtures 1,579,698 738,405
Property and equipment, gross 4,127,177 4,355,227
Less-accumulated depreciation and amortization (3,199,950) (2,874,156)
Property and equipment, net 927,227 1,481,071
OTHER ASSETS 38,882 464,286
TOTAL ASSETS 36,937,681 36,082,586
CURRENT LIABILITIES:    
Accounts payable (including amounts due to related party; 2012 - $69,017; 2011 - $503,763) 1,504,677 3,526,171
Accrued expenses 2,216,524 3,016,596
Deferred revenue 93,750 93,750
Total current liabilities 3,814,951 6,636,517
DEFERRED REVENUE 33,526 46,416
COMMON STOCK WARRANT LIABILITY 1,173,747 8,168,846
TOTAL LIABILITIES 5,022,224 14,851,779
Contingently redeemable series C preferred stock, 550 and 600 shares issued and outstanding in 2012 and 2011, respectively (liquidation preference of $550,000 and $600,000 in 2012 and 2011, respectively) 550,000 600,000
SHAREHOLDERS' EQUITY:    
Preferred stock, $.01 par value; 1,000,000 shares authorized, Series B convertible preferred stock, 130 shares issued and outstanding (liquidation preference of $13,000) 1 1
Series E convertible preferred stock, 22,740 shares issued and outstanding (liquidation preference of $2,274,000) 227 227
Common stock $.01 par value; 150,000,000 shares authorized; 87,543,781 and 87,367,313 shares issued in 2012 and 2011, respectively 875,437 873,673
Capital in excess of par value 278,697,432 278,060,138
Less cost of 36,448 treasury shares (125,381) (125,381)
Accumulated deficit (248,365,480) (258,282,753)
Accumulated other comprehensive income 283,221 104,902
Shareholders' equity 31,365,457 20,630,807
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 36,937,681 $ 36,082,586