|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Jun. 30, 2011
|
Dec. 31, 2010
|
| Current Assets |
 |
 |
| Cash and cash equivalents |
$ 171,225 |
$ 88,956 |
| Accounts receivable, net of allowance for doubtful accounts of $727,754 in 2011 and $470,998 in 2010 |
1,663,294 |
1,717,235 |
| Inventories |
271,990 |
223,629 |
| Prepaid expenses and other |
181,657 |
158,749 |
| Total current assets |
2,288,166 |
2,188,569 |
| Leasehold improvements and equipment, net of accumulated depreciation of $13,041,942 in 2011 and $12,428,434 in 2010 |
3,713,130 |
3,719,361 |
| Goodwill |
2,302,179 |
2,302,179 |
| Other assets |
18,059 |
68,059 |
| Total assets |
8,321,534 |
8,278,168 |
| Current Liabilities |
 |
 |
| Accounts payable |
557,245 |
449,414 |
| Accrued expenses |
414,863 |
298,009 |
| Revolving Line of Credit |
 |
642,886 |
| Current maturities of long-term debt |
824,271 |
1,185,254 |
| Deferred revenues |
56,760 |
71,024 |
| Accrued interest payable |
34,984 |
 |
| Total current liabilities |
1,888,123 |
2,646,587 |
| Long-term debt, less current maturities, including accrued interest on long-term debt |
2,453,441 |
15,266,221 |
| Total liabilities |
4,341,564 |
17,912,808 |
| Redeemable convertible Series C preferred stock |
 |
15,896,210 |
| Commitments and contingency |
|
|
| Stockholders' equity |
 |
 |
| Common stock |
10,930 |
10,928 |
| Additional paid-in capital |
86,789,529 |
55,551,402 |
| Accumulated deficit |
(82,849,687) |
(81,093,180) |
| Total stockholders' equity |
3,979,972 |
(25,530,850) |
| Total liabilities and stockholders' equity |
8,321,534 |
8,278,168 |
|
Series C
|
 |
 |
| Stockholders' equity |
 |
 |
| Nonredeemable convertible preferred stock |
15,882 |
 |
|
Series D
|
 |
 |
| Stockholders' equity |
 |
 |
| Nonredeemable convertible preferred stock |
$ 13,318 |
 |