Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheet

v2.4.0.6
Consolidated Balance Sheet (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 62,296 $ 416,333
Account receivable net of allowance for doubtful accounts $46,119 and $449,524, respectively 834,998 523,039
Inventories 1,651,087 1,819,751
Prepaid expenses and other current assets 121,912 145,313
Total current assets 2,670,293 2,904,436
Property and equipment, net 3,333,919 3,342,447
Deferred financing costs, net 17,677 25,319
Goodwill 1,026,984 1,026,984
Intangibles, net 190,894 247,450
Investment in non-consolidated subsidiary      
Total noncurrent assets 4,569,474 4,642,200
Total Assets 7,239,767 7,546,636
Current liabilities:    
Account payable 736,279 1,616,673
Accrued expenses and other current liabilities 3,127,817 1,181,852
Accrued interest 286,382 83,548
Notes payable - shareholder 1,099,715 1,099,715
Convertible notes payable 1,472,152 2,050,000
Deferred income tax 102,022 102,022
Derivative instruments 919,394 883,619
Current portion of long term debt 181,752 260,741
Total current liabilities 7,925,513 7,278,170
Long Term Debt 2,894,579 3,037,591
Shareholders' deficiency    
Common stock, $.001 par value, 100,000,000 shares authorized, 63,142,969 and 55,181,165 shares issued and outstanding at December 31, 2012, and 2011, respectively 63,143 55,181
Additional paid-in capital 10,484,611 3,339,171
Accumulated deficit (14,128,079) (6,163,477)
Total shareholders' deficiency (3,580,325) (2,769,125)
Total liabilities and shareholders' deficiency $ 7,239,767 $ 7,546,636