Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 2,758 $ 1,617
Restricted cash 248 494
Accounts receivable 338 93
Inventories, net 1,008 1,089
Other current assets 646 537
Total current assets 4,998 3,830
Property and equipment, net 76 68
Goodwill 1,764 1,764
Restricted cash 225 220
Other assets 241 241
Total assets 7,304 6,123
Current liabilities:    
Accounts payable 1,997 2,208
Income taxes payable 22 11
Accrued distributor commissions 1,271 1,177
Other accrued expenses 1,788 1,471
Deferred revenue 1,335 967
Deferred tax liability 148 148
Other current liabilities 974 950
Total current liabilities 7,535 6,932
Commitments and contingencies 0 0
Stockholders’ deficit:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 1,761,900 shares designated Series A convertible preferred stock, 138,400 shares issued and outstanding at December 31, 2011 and March 31, 2012, aggregate liquidation value of $316 124 124
Common stock, $0.001 par value; 50,000,000 shares authorized; 11,326,323 shares issued and outstanding at December 31, 2011 and March 31, 2012 11 11
Additional paid-in capital 80,513 80,493
Accumulated deficit (80,831) (81,338)
Foreign currency translation adjustments (48) (99)
Total stockholders’ deficit (231) (809)
Total liabilities and stockholders’ deficit $ 7,304 $ 6,123