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

Consolidated Balance Sheets (Unaudited)

 v2.3.0.11
Consolidated Balance Sheets (Unaudited) (USD $)
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 1,839,685 $ 251,475
Account receivable net of allowance for doubtful accounts $147,212 and $118,356, respectively 1,671,362 1,397,414
Inventories 2,838,159 2,503,598
Prepaid expenses and other current assets 94,382 43,282
Total current assets 6,443,588 4,195,769
Property and equipment, net 3,139,251 3,262,133
Non-marketable investment 61,335 61,335
Deferred financing costs, net 176,671 35,363
Goodwill 1,299,309  
Assets Noncurrent 4,676,566 3,358,831
Total Assets 11,120,154 7,554,600
Current liabilities:    
Note payable - bank 2,154,121 2,258,184
Accounts payable 1,435,491 963,853
Accrued expenses and other current liabilities 296,825 129,477
Notes payable - shareholder 1,100,185 1,102,926
Convertible note payable 2,250,000  
Deferred income tax 69,018 69,018
Current portion of long term debt 236,892 277,299
Total current liabilities 7,542,532 4,800,757
Long Term Debt 3,211,366 3,275,978
Shareholders' equity    
Common stock, $.001 par value, 100,000,000 shares authorized, 67,029,396 and 37,698,000 shares issued and outstanding at June 30, 2011 and 2010, respectively 67,029 37,698
Additional paid-in capital 2,331,771 361,102
Accumulated deficit (2,032,544) (920,935)
Total shareholders' equity 366,256 (522,135)
Total liabilities and shareholders' equity $ 11,120,154 $ 7,554,600