Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS (unaudited)

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BALANCE SHEETS (unaudited) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 1,001,937 $ 1,027,475
Accounts receivable 24,399 30,451
Prepaid expenses and other current assets 80,092 50,368
Inventory 207,001 48,749
Total current assets 1,313,429 1,157,043
Other assets:    
Equipment, net of depreciation 386,763 316,357
Intangible assets, net of amortization 2,142,858 2,410,715
Total other assets 2,529,621 2,727,072
Total assets 3,843,050 3,884,115
Current liabilities:    
Accounts payable 101,394 73,172
Accrued liabilities 165,384 112,482
Interest payable 2,630 2,630
Income taxes payable 75 150
Loan payable, current 40,339 27,218
Current portion of senior subordinated notes payable 1,000,000 500,000
Total current liabilities 1,309,822 715,652
Long-term liabilities:    
Loan payable 156,198 106,158
Senior subordinated notes payable   500,000
Total long-term liabilities 156,198 606,158
Total liabilities 1,466,020 1,321,810
Commitments and contingencies      
Stockholders' equity:    
Preferred stock value 104 286
Common stock value 805 190
Additional paid-in capital 8,334,863 5,992,636
Accumulated deficit during development stage 5,958,742 3,430,807
Total stockholders' equity 2,377,030 2,562,305
Total liabilities and stockholders' equity $ 3,843,050 $ 3,884,115 [1]
[1] The numbers in this column, for the year ended December 31, 2012, are derived from audited financials.