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
Mar. 31, 2012
Mar. 31, 2011
Current assets:    
Cash and cash equivalents $ 3,351 $ 4,371
Accounts receivable, net 2,151 2,094
Inventory, net 953 733
Prepaid expenses and other current assets 505 611
Total current assets 6,960 7,809
Property and equipment, net 806 802
Other assets 72 53
Total assets 7,838 8,664
Current liabilities:    
Accounts payable 816 669
Accrued expenses and other current liabilities 844 694
Deferred revenue 1,619 1,808
Current portion of long-term debt, net of debt discount of $624 and $237 at March 31, 2012 and March 31, 2011, respectively 1,415 907
Derivative liability 55 337
Total current liabilities 4,749 4,415
Deferred revenue 133 160
Long-term debt, net of debt discount of $769 and $354 at March 31, 2012 and March 31, 2011, respectively, less current portion 1,824 1,638
Put warrant liability 2,000 750
Total liabilities 8,706 6,963
Commitments and Contingencies      
Stockholders’ (Deficiency) Equity    
Convertible preferred stock, $0.0001 par value; 5,000,000 shares authorized, none issued and outstanding at March 31, 2012 and 2011      
Common stock, $0.0001 par value; 100,000,000 shares authorized, 29,007,903 and 26,576,302 shares issued and outstanding at March 31, 2012 and 2011, respectively 3 3
Additional paid-in capital 134,496 129,584
Accumulated other comprehensive loss (3,053) (2,901)
Accumulated deficit (132,314) (124,985)
Total stockholders’ (deficiency) equity (868) 1,701
Total liabilities and stockholders’ (deficiency) equity $ 7,838 $ 8,664