|
Condensed Consolidated Balance Sheets (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
| Current Assets |
|
|
|
| Cash and cash equivalents |
$ 6,528,271 |
$ 2,397,828 |
$ 3,018,876 |
| Restricted cash |
105,000 |
|
|
| Credit card holdback receivable |
415,571 |
441,840 |
239,452 |
| Accounts receivable, net of allowances and reserves of $42,292 and $184,964, respectively |
410,846 |
480,190 |
185,585 |
| Accrued interest receivable |
5,907 |
5,907 |
|
| Investments |
|
6,481,205 |
|
| Prepaid expense and other current assets |
184,652 |
96,815 |
74,260 |
| Total Current Assets |
7,650,247 |
9,903,785 |
3,518,173 |
| Fixed assets and intangible assets, net |
573,548 |
578,463 |
89,506 |
| Notes receivable |
130,463 |
138,803 |
|
| Security deposits |
|
19,520 |
18,185 |
| Total other assets |
|
158,323 |
18,185 |
| Total Assets |
8,354,258 |
10,640,571 |
3,625,864 |
| Current Liabilities |
|
|
|
| Accounts payable |
1,158,898 |
1,027,841 |
497,303 |
| Accrued expenses and other current liabilities |
542,326 |
864,983 |
456,348 |
| Deferred revenue |
3,317,790 |
3,138,406 |
1,937,915 |
| Convertible notes payable - related party |
|
|
45,486 |
| Accrued interest - related party |
|
|
24,115 |
| Total Current Liabilities |
5,019,014 |
5,031,230 |
2,961,167 |
| Long term deferred rent |
44,938 |
61,640 |
|
| Warrant liability |
1,546,050 |
937,000 |
|
| Commitments |
|
|
|
| Total Liabilities |
6,610,002 |
6,029,870 |
2,961,167 |
| Stockholders' Equity |
|
|
|
| Preferred Stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding |
|
|
|
| Common Stock, $0.001 par value, 100,000,000 shares authorized, 43,805,261, 38,580,261 and 33,210,756 shares issued, respectively, and 38,655,261, 38,580,261 and 33,210,756 shares outstanding, respectively |
38,655 |
38,580 |
33,211 |
| Additional paid-in capital |
9,117,897 |
8,256,864 |
2,730,659 |
| Accumulated deficit |
(7,412,296) |
(3,684,743) |
(2,091,570) |
| Less: deferred compensation |
|
|
(7,603) |
| Total Stockholders' Equity |
1,744,256 |
4,610,701 |
664,697 |
| Total Liabilities and Stockholders' Equity |
$ 8,354,258 |
$ 10,640,571 |
$ 3,625,864 |