|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Mar. 31, 2012
|
Dec. 31, 2011
|
| Current Assets |
|
|
| Cash and cash equivalents |
$ 253,557 |
$ 505,500 |
| Accounts receivable, net of allowance for doubtful accounts of $737,754 in 2012 and $727,754 in 2011 |
1,811,570 |
1,428,265 |
| Inventories |
370,141 |
324,919 |
| Prepaid expenses and other |
133,717 |
124,355 |
| Total current assets |
2,568,985 |
2,383,039 |
| Leasehold improvements and equipment, net of accumulated depreciation of $13,935,047 in 2012 and $13,610,392 in 2011 |
3,602,557 |
3,806,381 |
| Goodwill |
2,302,179 |
2,302,179 |
| Other assets |
18,059 |
18,059 |
| Total assets |
8,491,780 |
8,509,658 |
| Current Liabilities |
|
|
| Accounts payable |
521,739 |
847,076 |
| Accrued expenses |
401,961 |
555,884 |
| Current maturities of long-term debt |
577,881 |
538,206 |
| Deferred revenues |
57,488 |
63,063 |
| Accrued interest, current |
325 |
|
| Total current liabilities |
1,559,394 |
2,004,229 |
| Long-term debt, less current maturities, including accrued interest on long-term debt |
2,750,445 |
2,498,692 |
| Total liabilities |
4,309,839 |
4,502,921 |
| Commitments and contingency |
|
|
| Stockholders' equity |
|
|
| Common stock |
10,930 |
10,930 |
| Additional paid-in capital |
88,866,766 |
88,203,493 |
| Accumulated deficit |
(84,724,955) |
(84,236,886) |
| Total stockholders' equity |
4,181,941 |
4,006,737 |
| Total liabilities and stockholders' equity |
8,491,780 |
8,509,658 |
|
Preferred Series C
|
|
|
| Stockholders' equity |
|
|
| Nonredeemable exchangeable preferred stock |
15,882 |
15,882 |
|
Preferred Series D
|
|
|
| Stockholders' equity |
|
|
| Nonredeemable exchangeable preferred stock |
$ 13,318 |
$ 13,318 |