Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES

v2.4.0.6
COMMITMENTS AND CONTINGENCIES
12 Months Ended
Jun. 30, 2012
Commitments and Contingencies Disclosure [Text Block]

NOTE I – COMMITMENTS AND CONTINGENCIES


Research and Royalty Agreements


See Note K – related party transactions for agreements with FhCMB.


Remaining minimum commitments to FhCMB as of June 30, 2012 are as follows:


For the year ended June 30,:


 

 

 

 

 

2013

 

$

2,630,000

 

2014

 

 

2,200,000

 

2015

 

 

200,000

 

2016

 

 

200,000

 

2017

 

 

200,000

 

Thereafter

 

 

1,600,000

 

 

 



 

Total

 

$

7,030,000