Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 1,868 $ 2,628
Restricted cash 0 500
Accounts receivable (net of allowance for doubtful accounts of $3,002 and $2,150, respectively) 14,034 7,894
Inventories 1,859 1,202
Other current assets 820 954
Total current assets 18,581 13,178
PROPERTY AND EQUIPMENT (net of accumulated depreciation of $10,289 and $6,653 respectively) 8,607 6,642
INTANGIBLE ASSETS (net of accumulated amortization of $182 and $0 respectively) 2,800 0
OTHER ASSETS 83 129
TOTAL ASSETS 30,071 19,949
CURRENT LIABILITIES    
Accounts payable 3,611 2,529
Accrued compensation 2,808 2,137
Accrued expenses and other liabilities 669 773
Short-term portion of equipment capital leases 2,212 2,107
Revolving credit line 8,458 3,898
Total current liabilities 17,758 11,444
LONG TERM LIABILITIES    
Long-term portion of equipment capital leases 3,097 2,608
TOTAL LIABILITIES 20,855 14,052
COMMITMENTS AND CONTINGENCIES (SEE NOTE I)      
STOCKHOLDERS' EQUITY    
Common stock, $.001 par value, (100,000,000 shares authorized; 45,280,280 and 43,416,200 shares issued and outstanding at December 31, 2012 and 2011, respectively) 45 43
Additional paid-in capital 31,742 28,490
Accumulated deficit (22,571) (22,636)
Total stockholders' equity 9,216 5,897
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 30,071 $ 19,949