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RELATED PARTY
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6 Months Ended |
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Dec. 31, 2012
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| Related Party Transactions Disclosure [Text Block] |
NOTE E – RELATED PARTY TRANSACTIONS The Company entered into an agreement in January 2012, with a vendor, whose minority stockholder is the President of the Company. The vendor performs laboratory feasibility analyses of gene expression and protein purification and also preparation of research samples. The expense for the three months ended December 31, 2012 and 2011 approximated $124,000 and $0, respectively. The expense for the six months ended December 31, 2012 and 2011 approximated $219,000 and $0, respectively. Included in accounts payable at December 31, 2012 and June 30, 2012, was approximately $90,000 and $64,000 respectively, due this vendor. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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