|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
| Current Assets: |
|
|
|
| Cash and cash equivalents |
$ 2,061,132 |
$ 1,186,653 |
$ 1,055,669 |
| Accounts receivable, net of allowance for doubtful accounts at $-0- |
51,941 |
36,078 |
|
| Inventories |
625,778 |
431,022 |
|
| Prepaid expenses and other current assets |
116,372 |
43,728 |
344,536 |
| Total current assets |
2,855,223 |
1,697,481 |
1,400,205 |
| Property and equipment - net |
134,534 |
155,067 |
144,146 |
| Other assets |
278,483 |
269,994 |
267,575 |
| Total long-term assets |
413,017 |
425,061 |
411,721 |
| Total Assets |
3,268,240 |
2,122,542 |
1,811,926 |
| Current Liabilities: |
|
|
|
| Accounts payable |
728,011 |
675,160 |
817,701 |
| Accrued expenses and other current liabilities |
374,368 |
558,466 |
401,418 |
| Convertible notes payable, net of debt discount in the amount of $229,621 at September 30, 2012 and $53,677 at December 31, 2011 |
973,379 |
294,323 |
|
| Total current liabilities |
2,075,758 |
1,527,949 |
1,219,119 |
| Long Term Liabilities: |
|
|
|
| Convertible notes payable, net of debt discount in the amount of $-0- at September 30, 2012 and $508,750 at December 31, 2011 |
|
276,250 |
1,077,388 |
| Total long term liabilities |
|
276,250 |
1,077,388 |
| Total liabilities |
2,075,758 |
1,804,199 |
2,296,507 |
| Commitments and Contingencies |
|
|
|
| Stockholders' Equity (Deficit): |
|
|
|
| Common Stock, Par Value $0.001, 500,000,000 shares authorized at September 30, 2012 and December 31, 2011, 209,895,444 and 177,626,058 shares issued and outstanding, respectively |
209,895 |
177,626 |
122,838 |
| Additional paid-in capital |
98,535,236 |
92,696,747 |
83,375,544 |
| Deficit accumulated during the development stage |
(97,554,274) |
(92,557,542) |
(83,988,850) |
| Total stockholders' equity/(deficiency) |
1,192,482 |
318,343 |
(484,581) |
| Total Liabilities and Stockholders' Equity (Deficiency) |
3,268,240 |
2,122,542 |
1,811,926 |
|
10% Series A Preferred Stock [Member]
|
|
|
|
| Stockholders' Equity (Deficit): |
|
|
|
| Preferred Stock |
1,555 |
1,447 |
5,826 |
|
10% Series B Preferred Stock [Member]
|
|
|
|
| Stockholders' Equity (Deficit): |
|
|
|
| Preferred Stock |
$ 70 |
$ 65 |
$ 61 |