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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 1,102,477 $ 4,614,538
Accounts receivable, net of allowance for doubtful accounts of $52,000 at September 30, 2015 and December 31, 2014, respectively 9,514,951 8,338,889
Inventories 3,010,537 3,638,299
Prepaid expenses and other current assets 1,537,070 1,066,473
TOTAL CURRENT ASSETS 15,165,035 17,658,199
FIXED ASSETS, net of accumulated depreciation 2,622,003 2,797,929
OTHER ASSETS:    
Deferred tax asset, net of valuation allowance 4,597,085 4,031,302
License agreements, net of current portion 205,682 256,875
Deposits on manufacturing equipment 0 20,017
Deposits and other assets 218,298 245,870
TOTAL ASSETS 22,808,103 25,010,192
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 4,414,150 4,946,030
Current portion of loans payable 0 0
Deferred Revenue, Current 150,000 340,000
TOTAL CURRENT LIABILITIES 4,564,150 5,286,030
OTHER LIABILITIES:    
TOTAL LIABILITIES 4,564,150 5,286,030
STOCKHOLDERS' EQUITY:    
Preferred stock - 10,000,000 shares authorized, none outstanding 0 0
Common stock - $.01 par value; 100,000,000 shares authorized; 9,628,248 and 9,611,139 shares issued and outstanding for September 30, 2015 and December 31, 2014, respectively 96,283 96,112
Additional paid-in capital 47,824,105 47,556,426
Accumulated deficit (29,676,435) (27,928,376)
TOTAL STOCKHOLDERS' EQUITY 18,243,953 19,724,162
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 22,808,103 $ 25,010,192