Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Sep. 30, 2012
Sep. 30, 2011
ASSETS    
Cash $ 5,290,780 $ 4,249,324
Certificate of deposit   63,875
Restricted cash 4,682 4,526
Accounts receivable, net of allowance for doubtful accounts 2012 $41,625 and 2011 $10,000 7,268,917 2,305,473
Income tax receivable 27,369  
Inventories 1,458,199 2,026,528
Prepaid expenses and other current assets 624,268 297,267
Deferred income taxes 2,152,000 800,000
TOTAL CURRENT ASSETS 16,826,215 9,746,993
Other Assets 122,336 116,360
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 3,969,888 3,465,745
Leasehold improvements 322,814 301,179
Construction in progress 268,765  
Less accumulated depreciation and amortization (2,211,591) (1,787,486)
Plant and equipment, net 2,349,876 1,979,438
Deferred income taxes 11,148,000 7,600,000
TOTAL ASSETS 30,446,427 19,442,791
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 1,775,327 1,076,994
Accrued expenses and other current liabilities 1,120,302 846,591
Accrued compensation 2,964,812 369,825
TOTAL CURRENT LIABILITIES 5,860,441 2,293,410
LONG-TERM LIABILITIES    
Deferred rent 90,902 101,133
Deferred grant income 82,650 107,481
Deferred income taxes 194,244 188,177
TOTAL LIABILITIES 6,228,237 2,690,201
Commitments and Contingencies      
STOCKHOLDERS’ EQUITY    
Common Stock, par value $.01 per share; authorized 38,500,000 shares; issued 30,550,030 and 29,649,003 shares, and 28,591,201 and 27,734,174 shares outstanding in 2012 and 2011, respectively. 305,500 296,490
Additional paid-in capital 66,760,907 68,117,382
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (35,594,455) (44,697,131)
Treasury stock, at cost, 1,958,829 and 1,914,829 shares of common stock in 2012 and 2011, respectively (6,672,243) (6,382,632)
TOTAL STOCKHOLDERS’ EQUITY 24,218,190 16,752,590
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 30,446,427 19,442,791
Convertible preferred stock, Class A, Series 1 [Member]
    
STOCKHOLDERS’ EQUITY    
Convertible preferred stock, Class 0 0
Convertible preferred stock, Class A, Series 3 [Member]
    
STOCKHOLDERS’ EQUITY    
Convertible preferred stock, Class 0 0
Convertible preferred stock, Class B [Member]
    
STOCKHOLDERS’ EQUITY    
Convertible preferred stock, Class $ 0 $ 0