|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Current assets: |
|
|
| Cash and cash equivalents |
$ 5,026,523 |
$ 9,380,059 |
| Accounts receivable, net |
6,429,400 |
4,021,725 |
| Inventory |
10,406,320 |
8,550,457 |
| Prepaid expenses and other current assets |
1,850,859 |
1,988,457 |
| Total current assets |
23,713,102 |
23,940,698 |
| Restricted cash |
500,000 |
0 |
| Property, plant, and equipment, net |
5,277,667 |
6,708,237 |
| Leased property under capital lease |
2,453,312 |
2,969,799 |
| Note receivable |
509,945 |
570,697 |
| Intangible assets, net |
2,901,595 |
5,270,571 |
| Total assets |
35,355,621 |
39,460,002 |
| Current liabilities: |
|
|
| Borrowings under line of credit |
0 |
3,380,835 |
| Accounts payable |
3,094,385 |
3,558,157 |
| Accrued expenses |
3,068,774 |
3,828,045 |
| Product warranty reserve |
1,608,131 |
2,671,409 |
| Deferred revenue |
3,434,735 |
2,950,375 |
| Obligations under capital lease |
717,870 |
650,379 |
| Other current liabilities |
679,176 |
0 |
| Total current liabilities |
12,603,071 |
17,039,200 |
| Obligations under capital lease |
586,879 |
1,304,749 |
| Deferred revenue |
5,579,281 |
4,362,092 |
| Common stock warrant liability |
28,829,849 |
475,825 |
| Finance obligation |
2,492,330 |
0 |
| Other liabilities |
765,281 |
1,247,833 |
| Total liabilities |
50,856,691 |
24,429,699 |
| Redeemable Preferred Stock: |
|
|
| Series C redeemable convertible preferred stock, $0.01 par value per share(aggregate involuntary liquidation preference $17,007,931) 10,431 shares authorized;Issued and outstanding: 10,431 at December 31, 2013 and 0 at December 31, 2012 |
2,371,080 |
0 |
| Stockholders' (deficit) equity: |
|
|
| Common stock, $0.01 par value per share; 245,000,000 shares authorized; Issued (including shares in treasury):106,356,558 at December 31, 2013 and 38,404,764 at December 31, 2012 |
1,063,566 |
384,048 |
| Additional paid-in capital |
831,155,925 |
801,840,491 |
| Accumulated other comprehensive income |
897,807 |
1,004,412 |
| Accumulated deficit |
(849,437,066) |
(786,646,266) |
| Less common stock in treasury: 165,906 shares at December 31, 2013 and December 31, 2012 |
(1,552,382) |
(1,552,382) |
| Total stockholders' (deficit) equity |
(17,872,150) |
15,030,303 |
| Total liabilities, redeemable preferred stock, and stockholders' (deficit) equity |
$ 35,355,621 |
$ 39,460,002 |