XML 19 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current Assets    
Cash and cash equivalents $ 17,110,350 $ 404,216
Short-term investments 5,225,000  
Accounts receivable, net 6,267,839 5,441,511
Inventories 10,530,721 12,498,519
Prepaid expenses and other current assets 2,099,197 609,164
Total current assets 41,233,107 18,953,410
Long-term investments 249,000  
Equipment and improvements, net 3,489,194 3,608,242
Identifiable intangible assets, net 6,403,044 6,971,626
Goodwill 7,119,726 7,119,726
Other assets 129,821 316,859
Total Assets 58,623,892 36,969,863
Current Liabilities    
Line of credit borrowings   3,075,555
Current maturities of long-term debt   5,851
Accounts payable 3,999,993 3,777,454
Accrued expenses and other current liabilities 2,377,634 2,150,621
Total current liabilities 6,377,627 9,009,481
Other long-term liabilities 252,684 211,581
Deferred tax liability 1,146,047 1,068,088
Total Liabilities 7,776,358 10,289,150
Commitments (Note 15)      
Shareholders' Equity    
Convertible preferred stock, $.01 par value; 1,468,750 shares authorized; issued and outstanding 73,332 at December 31, 2011 and 284,844 at December 31, 2010 (liquidation preference of $3,222,368 at December 31, 2011) 733 2,848
Common stock, $.01 par value; 18,750,000 shares authorized; issued and outstanding 10,577,632 at December 31, 2011 and 6,563,076 at December 31, 2010 105,776 65,631
Additional paid-in capital 77,374,821 48,803,210
Accumulated other comprehensive income - cumulative translation adjustments 1,502,531 1,604,940
Accumulated deficit (28,136,327) (23,795,916)
Total Shareholders' Equity 50,847,534 26,680,713
Total Liabilities and Shareholders' Equity $ 58,623,892 $ 36,969,863