General form of registration statement for all companies including face-amount certificate companies

Balance Sheets (Interim Period Unaudited)

v2.4.0.6
Balance Sheets (Interim Period Unaudited) (USD $)
Sep. 30, 2012
Dec. 31, 2011
Dec. 31, 2010
ASSETS      
Cash and cash equivalents $ 3,787,252 $ 145,478 $ 1,577,314
Accounts receivable 186,054 401,580 31,540
Inventory 939,744 968,818 1,610,442
Prepaid expenses and other current assets 129,873 19,773 16,540
Total current assets 5,042,923 1,535,649 3,235,836
Property and equipment, net 1,281,730 1,218,830 979,509
Software license inventory 1,137,500    
Deferred costs   214,469 263,495
Other assets 31,400 61,481  
Total assets 7,493,553 3,030,429 4,562,841
LIABILITIES AND STOCKHOLDERS' DEFICIT      
Accounts payable 2,535,348 4,037,168 3,495,283
Accrued compensation 347,947 1,011,413 124,792
Accrued interest   971,733 344,395
Other accrued liabilities 1,305,622 2,015,046 2,079,574
Derivative liability 7,439    
Related party deferred revenue 2,046,374 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 6,242,730 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 498,474 209,143 278,060
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 13,270,828 24,873,572 19,900,092
Commitments and contingencies (Notes 5, 8 and 9)         
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 September 30, 2012, 100,000,000, 48,168,760, and 47,842,930 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 481,687 164,108 161,858
Additional paid-in capital 60,357,805 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 (64,937,533) (59,788,610) (51,477,199)
Total stockholders' deficit (5,777,275) (21,843,143) (15,337,251)
Total liabilities and stockholders' deficit 7,493,553 3,030,429 4,562,841
Junior secured notes payable, net of unamortized discount of $2,808,977 and $2,805,686 at September 30, 2012 and December 31, 2011, respectively 191,023 194,314 224,700
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