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Acquisition of Technology
6 Months Ended
Sep. 30, 2011
Acquisition of Technology 
Acquisition of Technology

2.              Acquisition of Technology

 

On September 30, 2011, the Company entered into a license agreement with Photonic Biosystems, Inc. for certain biological indicator technology.  Under the terms of this agreement, the Company has made an initial payment of $150,000 for rights to the technology during October 2011.  An additional payment of $25,000 is due by the end of January 2012, a payment of $75,000 is due upon issuance of a 510K clearance by the United States Food and Drug Administration for the anticipated product, and a payment of $50,000 to $150,000 will be due upon marketing of the product based on the time of results of the new biological indicator test.  In addition, sales of products covered by this license agreement will be subject to royalty payments.