ASSETS:
|
|
2007 |
|
|
2006 |
|
Cash |
|
$ |
4,629,045 |
|
|
$ |
7,731,427 |
|
License fees receivable |
|
|
- |
|
|
|
8,850,000 |
|
Prepaid expenses |
|
|
95,000 |
|
|
|
15,000 |
|
Total assets |
|
$ |
4,724,045 |
|
|
$ |
16,596,427 |
|
LIABILITIES AND MEMBERS’ EQUITY:
Accounts payable and accrued expenses |
|
$ |
5,849,465 |
|
|
$ |
1,172,314 |
|
Income taxes payable |
|
|
11,790 |
|
|
|
- |
|
Members’ equity |
|
|
(1,137,210 |
) |
|
|
15,424,113 |
|
Total liabilities and members’ equity |
|
$ |
4,724,045 |
|
|
$ |
16,596,427 |
|
ASSETS:
| |
|
2008 |
|
|
2007 |
|
Cash |
|
$ |
8,017,494 |
|
|
$ |
7,500,220 |
|
License fees receivable |
|
|
- |
|
|
|
2,920,000 |
|
Prepaid expenses |
|
|
55,000 |
|
|
|
15,000 |
|
Total assets |
|
$ |
8,072,494 |
|
|
$ |
10,435,220 |
|
LIABILITIES AND MEMBERS’ EQUITY:
| |
|
2008 |
|
|
2007 |
|
Accounts payable and accrued expenses |
|
$ |
3,662,840 |
|
|
$ |
629,934 |
|
Income taxes payable |
|
|
11,790 |
|
|
|
11,790 |
|
Members’ equity |
|
|
4,397,864 |
|
|
|
9,793,496 |
|
Total liabilities and members’ equity |
|
$ |
8,072,494 |
|
|
$ |
10,435,220 |
|
