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

Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Consolidated Balance Sheets (Unaudited) (USD $)
Jun. 30, 2012
Dec. 31, 2011
Dec. 31, 2010
Current assets:      
Cash and cash equivalents $ 174,212 $ 416,333 $ 251,475
Account receivable net of allowance for doubtful accounts $113,339; $449,524; and $118,356, respectively 1,261,230 523,039 1,397,414
Inventories 2,371,318 1,819,751 2,501,110
Prepaid expenses and other current assets 562,061 145,313 43,282
Total current assets 4,368,821 2,904,436 4,193,281
Property and equipment, net 3,409,867 3,342,447 3,262,133
Deferred financing costs, net 46,498 25,319 35,363
Goodwill 1,026,984 1,026,984   
Intangibles, net 219,172 247,450   
Investment in unconsolidated subsidiary       42,677
Total non-current assets 4,702,521 4,642,200 3,340,173
Total Assets 9,071,342 7,546,636 7,533,454
Current liabilities:      
Note payable - bank       2,502,863
Accounts payable 1,607,652 1,616,673 963,853
Accrued expenses and other current liabilities 1,082,105 1,181,852 132,889
Accrued interest 108,928 83,548   
Notes payable - shareholder 1,099,715 1,099,715 1,102,926
Convertible note payable 1,258,333 2,050,000   
Deferred income tax 102,022 102,022 98,750
Derivative instruments 4,572,341 883,619   
Current portion of long term debt 217,755 260,741 277,299
Total current liabilities 10,048,851 7,278,170 5,078,580
Long Term Debt 2,954,013 3,037,591 3,044,074
Shareholders' deficiency      
Common stock, $.001 par value, 100,000,000 shares authorized, 61,972,969; 55,181,165; and 44,749,999 shares issued and outstanding at Jun 30, 2012; December 31, 2011; and December 31, 2010, respectively 61,973 55,181 44,750
Additional paid-in capital 6,530,456 3,339,171 72,217
Accumulated deficit (10,523,951) (6,163,477) (706,167)
Total shareholders' deficiency (3,931,522) (2,769,125) (589,200)
Total liabilities and shareholders' deficiency $ 9,071,342 $ 7,546,636 $ 7,533,454