|
Balance Sheets (Interim Period Unaudited) (USD $)
|
Jun. 30, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
| ASSETS |
|
|
|
| Cash and cash equivalents |
$ 1,222,955 |
$ 145,478 |
$ 1,577,314 |
| Accounts receivable |
169,848 |
401,580 |
31,540 |
| Inventory |
939,439 |
968,818 |
1,610,442 |
| Prepaid expenses and other current assets |
76,208 |
19,773 |
16,540 |
| Total current assets |
2,408,450 |
1,535,649 |
3,235,836 |
| Property and equipment, net |
1,237,177 |
1,218,830 |
979,509 |
| Software license inventory |
1,137,500 |
|
|
| Deferred costs |
|
214,469 |
263,495 |
| Other assets |
51,200 |
61,481 |
|
| Total assets |
4,834,327 |
3,030,429 |
4,562,841 |
| LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
| Accounts payable |
2,844,509 |
4,037,168 |
3,495,283 |
| Accrued compensation |
348,913 |
1,011,413 |
124,792 |
| Accrued interest |
|
971,733 |
344,395 |
| Other accrued liabilities |
1,709,055 |
2,015,046 |
2,079,574 |
| Deposits |
989,520 |
|
|
| Derivative liability |
26,545 |
|
|
| Related party deferred revenue |
2,696,374 |
2,600,000 |
2,600,000 |
| Convertible notes payable, net of unamortized discount of $117,405 at December 31, 2011 |
|
3,953,595 |
|
| Total current liabilities |
8,614,916 |
14,588,955 |
8,644,044 |
| Related party deferred revenue |
|
1,396,374 |
3,996,374 |
| Related party accrued interest |
|
799,102 |
410,425 |
| Other accrued liabilities |
422,224 |
209,143 |
278,060 |
| Related party convertible notes payable, net of unamortized discount |
4,338,601 |
4,377,294 |
|
| Convertible notes payable, net of unamortized discount |
2,000,000 |
3,308,390 |
|
| Total liabilities |
15,567,861 |
24,873,572 |
19,900,092 |
| Commitments and contingencies |
|
|
|
| Series A convertible preferred stock; $.01 par value; 8,000,000 shares authorized, 7,965,000 shares issued and outstanding |
|
7,965,000 |
7,965,000 |
| Common stock, $.01 par value; at June 30, 2012, 100,000,000, 42,273,547, and 41,947,717 shares authorized, issued, and outstanding, respectively; at December 31, 2011, 70,000,000 16,410,820, and 16,084,990 shares authorized, issued, and outstanding, respectively; at December 31, 2010, 70,000,000 16,185,820, and 15,859,990 shares authorized, issued, and outstanding, respectively |
422,735 |
164,108 |
161,858 |
| Additional paid-in capital |
54,385,943 |
31,495,593 |
29,692,324 |
| Treasury stock, at cost, 325,830 common shares |
(1,679,234) |
(1,679,234) |
(1,679,234) |
| Accumulated deficit |
(63,862,978) |
(59,788,610) |
(51,477,199) |
| Total stockholders' deficit |
(10,733,534) |
(21,843,143) |
(15,337,251) |
| Total liabilities and stockholders' deficit |
4,834,327 |
3,030,429 |
4,562,841 |
| Junior secured notes payable, net of unamortized discount of $2,807,880, $2,805,686 and $2,775,300 at June 30, 2012, December 31, 2011, and December 31, 2010 respectively |
192,120 |
194,314 |
224,700 |
|
Licenses, Net [Member]
|
|
|
|
| ASSETS |
|
|
|
| Other assets |
|
27,000 |
45,000 |
|
Other Assets [Member]
|
|
|
|
| ASSETS |
|
|
|
| Other assets |
|
34,481 |
39,001 |
|
Related Party BSC Convertible Notes Payable [Member]
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
| Related party convertible notes payable, net of unamortized discount |
|
3,500,000 |
2,846,764 |
|
Related Party 2011 Unsecured Convertible Notes Payable [Member]
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
| Related party convertible notes payable, net of unamortized discount |
|
877,294 |
|
|
The 2011 Junior Secured Convertible Note Payable [Member]
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
| Convertible notes payable, net of unamortized discount |
|
2,000,000 |
|
|
The 2011 Junior Secured Convertible Note Payable, Net [Member]
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
| Convertible notes payable, net of unamortized discount |
|
1,308,390 |
|
|
The 2010 Unsecured Convertible Notes Payable [Member]
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
| Convertible notes payable, net of unamortized discount |
|
|
$ 3,499,725 |