XML 18 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $)
Sep. 30, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 3,672,702 $ 9,650,275
Accounts receivable, net of allowance for doubtful accounts of $24,000 at June 30, 2014 and December 31, 2013, respectively 8,315,651 4,592,121
Inventories 3,975,250 3,188,726
Prepaid expenses and other current assets 1,035,435 1,099,379
TOTAL CURRENT ASSETS 16,999,038 18,530,501
FIXED ASSETS, net of accumulated depreciation 2,118,756 1,978,232
OTHER ASSETS:    
Deferred tax asset, net of valuation allowance 3,829,549 3,590,207
License agreements, net of current portion 246,250 326,875
Deposits on manufacturing equipment 479,869 16,410
Deposits and other assets 255,157 44,367
TOTAL ASSETS 23,928,619 24,486,592
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 3,819,271 4,309,490
Current portion of loans payable 0 0
TOTAL CURRENT LIABILITIES 3,819,271 4,309,490
TOTAL LIABILITIES 3,819,271 4,309,490
STOCKHOLDERS' EQUITY:    
Preferred stock - 10,000,000 shares authorized, none outstanding 0 0
Common stock - $.01 par value; 100,000,000 shares authorized; 9,611,139 and 9,324,783 shares issued and outstanding for June 30, 2014 and December 31, 2013, respectively 96,112 93,248
Additional paid-in capital 47,445,750 46,875,027
Accumulated deficit (27,432,514) (26,791,173)
TOTAL STOCKHOLDERS' EQUITY 20,109,348 20,177,102
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 23,928,619 $ 24,486,592