NOTE 5 – OTHER ASSETS

During the nine months ended June 30, 2011, the Company sold certain non-core assets for $87,500.  The assets sold were acquired as part of a purchase of a larger portfolio of patents. The assets were not part of the targeted biotechnology sector strategy and management did not expect to be able to use or sell these assets during their useful lives and thus assigned an initial value of $0 to these assets.  As part of the transaction, the Company incurred a broker’s fee of $17,000.  Accordingly, the Company recognized a gain on the sale of assets of $70,500.