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

BALANCE SHEETS

v2.3.0.15
BALANCE SHEETS (USD $)
Sep. 30, 2011
Dec. 31, 2010
Dec. 31, 2009
Mar. 31, 2011
Pre Acquisition
Dec. 31, 2010
Pre Acquisition
Dec. 31, 2009
Pre Acquisition
CURRENT ASSETS:            
Cash and cash equivalents $ 1,590,755 $ 673,739 $ 980,125 $ 1,030,942 $ 2,372,951 $ 8,769,529
Restricted cash 55,000 555,000 555,000      
Prepaid expenses and other current assets 303,633 51,042 69,626 28,042 63,526 102,923
Deferred issuance costs 159,300   99,461 28,500    
Total current assets 2,108,688 1,279,781 1,704,212 1,087,484 2,436,477 8,872,452
FIXED ASSETS, NET 3,183,603 3,510,489 4,088,951 6,515 8,755 44,097
INTANGIBLE ASSETS     19,671      
DEPOSITS       15,350 15,350 15,350
EXCESS PURCHASE PRICE OVER NET ASSETS ACQUIRED 1,675,462          
OTHER ASSETS 27,222 11,872 11,872      
TOTAL ASSETS 6,994,975 4,802,142 5,824,706 1,109,349 2,460,582 8,931,899
CURRENT LIABILITIES:            
Accounts payable and accrued liabilities 441,653 392,881 715,588 250,008 565,723 3,299,217
Accrued interest   305,049        
Accrued compensation           245,711
Accrued dividends           2,902,963
Derivative liability 77,967     162,760 288,250 10,486,594
Notes payable, current portion   204,802 190,789      
Deferred revenue - current       33,333 33,333 33,333
Capital lease obligations, current portion 2,197 2,085 1,944      
Total current liabilities 521,817 904,817 908,321 446,101 887,306 16,967,818
LONG-TERM LIABILITIES:            
Convertible debt (Note 7)   2,720,985        
Notes payable, net of current portion 450,000 920,941 675,743      
Deferred rent 121,394 115,311 105,338      
Capital lease obligations, net of current portion 4,665 6,326 8,411      
Total long-term liabilities 576,059 3,763,563 789,492      
DEFERRED REVENUE - NONCURRENT       358,333 366,667 400,000
COMMITMENTS AND CONTINGENCIES            
REDEEMABLE PREFERRED STOCK:            
Series E convertible preferred stock, $0.00001 par value; 735 shares designated, 0 and 548.26078125 shares issued and outstanding at December 31, 2010 and 2009, respectively (see Note 6)           18,459,619
STOCKHOLDERS' EQUITY (DEFICIENCY):            
Preferred stock            
Common Stock 268 128 128 30 30 5
Additional paid-in capital 35,411,337 24,178,638 23,611,506 75,291,653 75,183,275 49,176,545
Deficit accumulated during the development stage (29,514,506) (24,045,004) (19,484,741)      
Accumulated deficit       (74,986,768) (73,976,696) (76,072,088)
Total stockholders' equity (deficiency) 5,897,099 133,762 4,126,893 304,915 1,206,609 (26,895,538)
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIENCY) $ 6,994,975 $ 4,802,142 $ 5,824,706 $ 1,109,349 $ 2,460,582 $ 8,931,899