|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| Current Assets |
|
|
| Cash and cash equivalents |
$ 539,704 |
$ 505,500 |
| Accounts receivable, net of allowance for doubtful accounts of $737,754 in 2012 and $727,754 in 2011 |
1,159,487 |
1,428,265 |
| Inventories |
331,918 |
324,919 |
| Prepaid expenses and other |
89,397 |
124,355 |
| Total current assets |
2,120,506 |
2,383,039 |
| Leasehold improvements and equipment, net of accumulated depreciation of $14,215,074 in 2012 and $13,610,392 in 2011 |
3,576,336 |
3,806,381 |
| Goodwill |
2,302,179 |
2,302,179 |
| Other assets |
18,059 |
18,059 |
| Total assets |
8,017,080 |
8,509,658 |
| Current Liabilities |
|
|
| Accounts payable |
363,383 |
847,076 |
| Accrued expenses |
339,464 |
555,884 |
| Current maturities of long-term debt |
637,896 |
538,206 |
| Deferred revenues |
49,954 |
63,063 |
| Accrued interest, current |
960 |
|
| Total current liabilities |
1,391,657 |
2,004,229 |
| Long-term debt, less current maturities, including accrued interest on long-term debt |
2,835,684 |
2,498,692 |
| Total liabilities |
4,227,341 |
4,502,921 |
| Commitments and contingency |
|
|
| Stockholders' equity |
|
|
| Common stock |
10,936 |
10,930 |
| Additional paid-in capital |
89,527,693 |
88,203,493 |
| Accumulated deficit |
(85,780,426) |
(84,236,886) |
| Total stockholders' equity |
3,789,739 |
4,006,737 |
| Total liabilities and stockholders' equity |
8,017,080 |
8,509,658 |
|
Preferred Series C
|
|
|
| Stockholders' equity |
|
|
| Nonredeemable exchangeable preferred stock |
17,153 |
15,882 |
|
Preferred Series D
|
|
|
| Stockholders' equity |
|
|
| Nonredeemable exchangeable preferred stock |
$ 14,383 |
$ 13,318 |