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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
Cash $ 206,335 $ 50,835
Accounts Receivable, net 122,713 450,142
Inventory, net 297,125 290,034
Notes Receivable - Related Parties 2,345,509 13,782
Accrued Interest - Related Parties 109,058 45,299
Total Current Assets 3,080,740 850,092
Property and Equipment, net 0 806
Intangible Assets, net 3,875,952 4,110,859
Deferred Loan Costs 91,754 89,170
Prepaid and Other Assets 283,569 107,150
Note Receivable 1,750,000 1,500,000
Accrued Interest 194,167 125,250
Total Long-Term Assets 6,195,442 5,933,235
TOTAL ASSETS 9,276,182 6,783,327
Accounts Payable 314,846 321,352
Accrued Royalties 75,502 428,238
Accrued Liabilities 551,169 458,218
Accrued Interest- Related Parties 86,296 101,815
Accrued Interests 84,240 23,945
Notes Payable - Related Parties 346,650 1,818,561
Notes Payable, net of discount 1,595,176 327,060
Stock Subscription Payable 337,750 0
Total Current Liabilities 3,391,629 3,479,189
Debentures, net of discount 484,646 435,346
TOTAL LIABILITIES 3,876,275 3,914,535
Series A Preferred Stock, $10 par value, 5,000,000 shares authorized; 0 issued and outstanding 0 0
Series B Preferred Stock, $10 par value, 75,000 shares authorized; 0 issued and outstanding 0 0
Common Stock: $.001 par value; 100,000,000 shares authorized; 56,910,772 issued and 56,906,683 outstanding as of June 30, 2011 and 41,316,930 issued and 41,312,841 outstanding as of December 31, 2010 56,910 41,317
Additional Paid-in Capital 34,288,818 26,056,408
Stock Subscription Receivable (66,074) (292,074)
Treasury Stock (12,039) (12,039)
Accumulated Deficit (28,867,708) (22,924,820)
Total Stockholders' Equity 5,399,907 2,868,792
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,276,182 $ 6,783,327