Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.6
Condensed Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 229,446 $ 165,129
Accounts receivable 55,131 108,714
Other receivable 58,136 42,109
Inventory 145,375 105,073
Due from related parties 77,679 76,591
Prepaid expenses 173,891 144,347
TOTAL CURRENT ASSETS 739,658 641,963
Property and equipment, net 1,745,477 1,505,059
Intangible assets, net 972,810 721,571
Investments at fair value 212,735 318,353
Other investments 1,700,332 1,582,148
Deposits and other assets 59,449 29,605
TOTAL ASSETS 5,430,461 4,798,699
LIABILITIES AND STOCKHOLDERS' EQUITY    
Current maturities of long-term debt and notes payable 1,185,616 1,171,855
Convertible notes payable 2,725,000 1,625,000
Accounts payable and accrued expenses 735,147 478,005
Other current liabilities 370,302 330,607
Current maturities of capital leases payable 38,583 41,590
Deferred rent 3,114 43,225
Due to related parties 30,113 30,204
TOTAL CURRENT LIABILITIES 5,087,875 3,720,486
Long-term debt, less current maturities 233,499 236,109
Capital leases payable, less current maturities 84,076 85,853
Deferred rent 62,239 7,162
Other liabilities 234,144 263,321
TOTAL LIABILITIES 5,701,833 4,312,931
Commitments and contingencies (Note 13)      
Stockholders' equity (deficit):    
Common stock: $0.0001 par value; authorized 200,000,000 shares; issued 3,012,121 shares; and outstanding 2,498,891 shares at March 31, 2012 and December 31, 2011 301 301
Additional paid in capital 6,483,001 6,459,506
Other comprehensive income (loss) (63,682) 50,650
Non-controlling interest 631,345 593,863
Accumulated deficit (6,795,917) (6,092,132)
Less treasury stock, 513,230 shares at March 31, 2012 and December 31, 2011 (526,420) (526,420)
Total stockholders' equity (deficit) (271,372) 485,768
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 5,430,461 $ 4,798,699