Consolidated Balance Sheets
December 31, 2010 and 2009
2010 2009
Assets
Current assets
C ash and cash equivalents $ 3,343,581 $ 1,264,661
A ccounts receivable, net 791,423 528,060
Inventory 341,414 224,004
Prepaid expenses 104,528 214,317
C urrent assets from discontinued operations 597 464,700
Total current assets 4,581,543 2,695,742
Property and equipment, net of accumulated depreciation 626,397 834,636
Total assets $ 5,207,940 $ 3,530,378
Li abi liti es and Shareholders' (Defi cit ) Equit y
Current liabilities
A ccounts payable $ 428,971 $ 970,150
A ccrued liabilities 884,099 1,392,158
C urrent liabilities from discontinued operations 2,028 552,765
Deferred revenue 1,951,643 476,500
O ther current liabilities 6 16,607
Total current liabilities 3,266,747 3,408,180
Other long-term liabilities 2,102,483 104,712
Total liabilities 5,369,230 3,512,892
Shareholders' (deficit) equity
C ommon stock, $0.001 par, authorized 100 million; 51.8 million shares issued
and outstanding (2009: 22.0 million shares issued and outstanding) 51,837 22,000
A dditional paid-in capital 69,059,576 63,177,312
A ccumulated deficit (69,267,152) (63,176,664)
Treasury stock of 13,741 (2009: 326,241) common stock (177) (4,195)
Total TyraTech, Inc. shareholders' (deficit) equity (155,916) 18,453
N on-controlling interest (5,374) (967)
Total (deficit) equity (161,290) 17,486
Total liabilities and (deficit) equity $ 5,207,940 $ 3,530,378
The accompanying notes are an integral part of these consolidated financial statements.
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