Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v2.4.0.8
Balance Sheets (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 6,367,515 $ 9,925,967
Restricted cash   61,763
Accounts receivables, net 49,613 69,795
Inventory, net 303,004 124,178
Prepaid expenses and other current assets 302,397 221,838
Total current assets 7,022,529 10,403,541
Property and equipment, net 48,860 84,591
Total assets 7,071,389 10,488,132
Current liabilities:    
Accounts payable and accrued expenses 1,222,463 1,157,520
Short term notes payable 142,306 47,977
Deferred revenue 23,147 50,989
Total current liabilities 1,387,916 1,256,486
Shareholders' equity:    
Preferred stock, no par value; 20,000,000 shares authorized; none issued and outstanding      
Common stock, $0.001 par value; 50,000,000 shares authorized; 27,514,080 and 27,382,830 shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively 27,514 27,383
Additional paid-in capital 63,406,316 63,290,625
Accumulated deficit (57,750,357) (54,086,362)
Total shareholders' equity 5,683,473 9,231,646
Total liabilities and shareholders' equity $ 7,071,389 $ 10,488,132