Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Consolidated Balance Sheets (Unaudited) (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 76,883 $ 416,333
Account receivable net of allowance for doubtful accounts $458,524 and $449,524, respectively 1,036,358 523,039
Inventories 1,741,737 1,819,751
Prepaid expenses and other current assets 381,227 145,313
Total current assets 3,236,205 2,904,436
Property and equipment, net 3,484,297 3,342,447
Deferred financing costs, net 23,409 25,319
Goodwill 1,026,984 1,026,984
Intangibles, net 233,311 247,450
Total noncurrent assets 4,768,001 4,642,200
Total Assets 8,004,206 7,546,636
Current liabilities:    
Account payable 1,170,169 1,616,673
Accrued expenses and other current liabilities 1,035,238 1,181,852
Accrued interest 27,397 83,548
Notes payable - shareholder 1,099,715 1,099,715
Convertible notes payable 1,095,833 2,050,000
Deferred income tax 102,022 102,022
Derivative instruments 6,002,102 883,619
Current portion of long term debt 241,149 260,741
Total current liabilities 10,773,625 7,278,170
Long Term Debt 2,995,742 3,037,591
Shareholders' deficiency    
Common stock, $.001 par value, 100,000,000 shares authorized, 56,936,165 and 55,181,165 shares issued and outstanding at March 31, 2012, and December 31,2011, respectively 56,936 55,181
Additional paid-in capital 9,737,416 3,339,171
Accumulated deficit (15,559,513) (6,163,477)
Total shareholders' deficiency (5,765,161) (2,769,125)
Total liabilities and shareholders' deficiency $ 8,004,206 $ 7,546,636