Quarterly report pursuant to sections 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 9,198,267 $ 1,620,005
Accounts receivable 384,045 445,432
Inventory 1,061,640 899,702
Prepaid expenses and other current assets 40,471 110,873
Total current assets 10,684,423 3,076,012
Property and equipment, net 1,249,359 1,287,115
Software license inventory 1,067,500 1,137,500
Other assets 22,400 51,119
Total assets 13,023,682 5,551,746
Current liabilities:    
Accounts payable 1,863,820 1,961,195
Accrued compensation 306,405 278,124
Other accrued liabilities 348,124 1,177,142
Derivative liabilities 3,771,310 789
Related party deferred license revenue   650,000
Deferred product revenue   112,725
Total current liabilities 6,289,659 4,179,975
Other accrued liabilities 273,683 574,722
Related party convertible notes payable 4,338,601 4,338,601
Note payable, net of unamortized discount of $538,786 and $0 at March 31, 2013 and December 31, 2012, respectively 3,750,659 2,000,000
Junior secured notes payable, net of unamortized discounts of $2,797,114 and $2,804,451 at March 31, 2013 and December 31, 2012, respectively 202,886 195,549
Total liabilities 14,855,488 11,288,847
Commitments and contingencies (Note 5)      
Stockholders' deficit:    
Common stock, $.01 par value; 100,000,000 shares authorized; 57,646,277 and 57,320,447 shares issued and outstanding, respectively, at March 31, 2013; and 48,418,830 and 48,093,000 shares issued and outstanding, respectively, at December 31, 2012 576,462 484,187
Additional paid-in capital 65,716,715 60,953,692
Treasury stock, at cost, 325,830 common shares (1,679,234) (1,679,234)
Accumulated deficit (66,445,749) (65,495,746)
Total stockholders' deficit (1,831,806) (5,737,101)
Total liabilities and stockholders' deficit $ 13,023,682 $ 5,551,746