Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Balance Sheets

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Unaudited Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Sep. 30, 2010
Current Assets:    
Cash $ 3,284,070 $ 2,918,776
Restricted cash 4,639 4,578
Certificate of deposit 63,062  
Accounts receivable, net 1,338,735 4,460,517
Income tax receivable 28,561 28,179
Inventories, net 2,127,551 2,194,330
Prepaid expenses and other current assets 369,412 284,948
Deferred income taxes 1,900,000 1,900,000
TOTAL CURRENT ASSETS 9,116,030 11,791,328
Other Assets 120,344 178,713
EQUIPMENT, FURNITURE AND FIXTURES    
Equipment, furniture and fixtures 3,755,657 3,720,637
Less accumulated depreciation and amortization (1,672,125) (1,322,577)
Property, plant and equipment, net 2,083,532 2,398,060
Deferred income taxes 4,000,000 4,000,000
TOTAL ASSETS 15,319,906 18,368,101
Current Liabilities:    
Accounts payable 573,061 586,596
Accrued expenses and other current liabilities 629,056 906,994
Accrued compensation 300,663 444,843
TOTAL CURRENT LIABILITIES 1,502,780 1,938,433
Obligations under capital leases   12,999
Deferred rent 90,206  
Deferred grant income 113,689 132,312
Deferred income taxes 152,227 152,227
TOTAL LIABILITIES 1,858,902 2,235,971
STOCKHOLDERS’ EQUITY:    
Common stock 296,490 293,675
Additional paid-in-capital 67,948,856 67,313,616
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (47,820,191) (44,544,073)
Treasury stock, at cost (6,382,632) (6,349,569)
TOTAL STOCKHOLDERS’ EQUITY 13,461,004 16,132,130
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 15,319,906 18,368,101
Convertible Preferred Stock ClassA Series1 [Member]
    
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, Class 0 0
Convertible Preferred Stock ClassA Series3 [Member]
    
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, Class 0 0
Convertible Preferred Stock ClassB [Member]
    
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, Class $ 0 $ 0