Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 10,720,397 $ 87,771
Accounts Receivable 61,897 0
Inventories 1,009,687 1,147,345
Prepaid Expenses 189,596 59,244
Total Current Assets 11,981,577 1,294,360
Property and Equipment, Net 803,709 860,932
Other Assets    
Equity Issuance Costs 0 421,077
Restricted Cash 426,963 336,963
Deposits 12,577 12,577
Total Other Assets 439,540 770,617
TOTAL ASSETS 13,224,826 2,925,909
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts Payable 890,762 1,303,414
Accrued expenses 502,594 526,924
Accrued Interest 0 10,781
Current Portion of Leasehold Improvement Loan 10,177 10,576
Notes Payable - Related Parties 0 450,000
Total Current Liabilities 1,403,533 2,301,695
Deferred Rent Liability 133,142 149,785
Leasehold Improvement Loan 81,111 88,613
TOTAL LIABILITIES 1,617,786 2,540,093
STOCKHOLDERS' EQUITY    
Preferred Stock - $0.001 par value: 10,000,000 and 8,221,678 shares authorized, 0 and 8,221,678 shares issued and outstanding with a liquidation preference of $0 and $31,959,545 at September 30, 2012 and December 31, 2011, respectively 0 8,222
Common Stock - $0.0001 and $0.001 par value: 75,000,000 and 6,500,000 authorized, 4,654,303 and 408,589 shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively 465 409
Additional paid-in capital 46,464,366 30,185,200
Accumulated Deficit (34,857,791) (29,808,015)
TOTAL STOCKHOLDERS' EQUITY 11,607,040 385,816
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 13,224,826 $ 2,925,909