XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 1,439,869 $ 5,376,931
Accounts receivable, net of allowance for doubtful accounts of $52,000 at June 30, 2016 and December 31, 2015, respectively 4,579,553 2,422,971
Inventories 3,481,819 3,578,025
Prepaid expenses and other current assets 860,340 1,256,879
TOTAL CURRENT ASSETS 10,361,581 12,634,806
FIXED ASSETS, net of accumulated depreciation 2,035,666 2,374,308
OTHER ASSETS:    
Deferred tax asset, net of valuation allowance 0 5,467,143
License agreements, net of current portion 50,000 100,000
Deposits on manufacturing equipment 52,968 30,918
Deposits and other assets 189,064 209,169
TOTAL ASSETS 12,689,279 20,816,344
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 2,708,362 2,801,432
Deferred revenue 818,848 353,406
TOTAL LIABILITIES 3,527,210 3,154,838
STOCKHOLDERS' EQUITY:    
Preferred stock - 10,000,000 shares authorized; none outstanding 0 0
Common stock - $.01 par value; 100,000,000 shares authorized; 9,686,242 and 9,628,248 shares issued and outstanding for June 30, 2016 and December 31, 2015, respectively 96,862 96,282
Additional paid-in capital 48,041,697 47,890,642
Accumulated deficit (38,976,490) (30,325,418)
TOTAL STOCKHOLDERS' EQUITY 9,162,069 17,661,506
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 12,689,279 $ 20,816,344