XML 37 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note J - Related Party
 12 Months Ended
Dec. 31, 2011
Notes To Financial Statements  
Related Party Transactions Disclosure [Text Block]
NOTE J—RELATED PARTY

Consulting Arrangement with Thomas J. Colatosti (“Colatosti”)

In connection with his appointment to the Board of Directors in September 2002, and as acting Chief Financial Officer from November 2008 to December 2009, the Company has entered into a number of consulting arrangements with Colatosti. Under the most recent arrangement, which was entered into on January 12, 2010, Mr. Colatosti provided services to the Company and its subsidiary for the two-year term ended December 31, 2011 at a rate of $5,000 per month.

Mr. Colatosti has substantial experience in the biometric industry and in addition to his role as the Chairman of the Board of Directors of the Company, provides extensive service to the Company in the areas of strategic planning and corporate finance. For the years ended December 31, 2011 and 2010, the Company paid Mr. Colatosti approximately $60,000 per year, of which $50,000 and $0 remained outstanding and payable as at December 31, 2011 and 2010 respectively.