General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED BALANCE SHEETS

 v2.3.0.11
CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
Dec. 31, 2009
Current assets:      
Cash $ 86,575 $ 310 $ 158
Accounts receivable 150,000    
Grant receivable   223,540  
Due from related party 14,330    
Inventory 916,159 308,662 55,023
Prepaid expenses 150,194 211,717  
Total current assets 1,317,258 744,229 55,181
Other assets:      
Patent and trademark costs, net 1,432,308 1,467,623 1,484,167
Office furniture and fixtures, net 4,428    
Debt issuance costs, net     35,923
Deferred private placement costs   587,133  
Deposits 1,535 1,535 1,535
Total other assets 1,438,271 2,056,291 1,521,625
Total assets 2,755,529 2,800,520 1,576,806
Current liabilities:      
Demand bank loans 174,925 174,925 246,735
Accounts payable 1,209,149 2,900,684 2,144,207
Accrued interest payable to shareholders (members) 11,722 190,977 80,188
Accrued expenses 190,388 227,724 36,500
Deferred grant revenue 80,000 223,540  
Notes payable to shareholders (members), net of unamortized discount   1,095,643 597,468
Current portion of long-term debt 123,223    
Due to related party   6,942 126,970
Due to officer (member) 4,509 3,200 930
Total current liabilities 1,793,916 4,823,635 3,232,998
Long-term notes, net 627,000 65,557 141,551
Warrant liability 3,061,750    
Total liabilities 5,482,666 4,889,192 3,374,549
Commitments and contingencies      
Capital stock issued and outstanding:      
Preferred shares      
27,209,646 common shares (16,000,000 at December 31, 2010) 273    
Contributed capital/Capital in excess of par value 4,715,105 3,598,856 2,466,138
Accumulated deficit (7,440,674) (5,687,394) (4,263,762)
Non-controlling interest - consolidated subsidiary (1,841) (134) (119)
Total shareholders' (members') deficit (2,727,137) (2,088,672) (1,797,743)
Total liabilities and shareholders' (members) deficit $ 2,755,529 $ 2,800,520 $ 1,576,806