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Equity Method Investments
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Jun. 30, 2012
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Dec. 31, 2011
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| Equity Method Investments |
6.
Equity Method Investments. Our investment in Betazone, which is our significant unconsolidated subsidiary,
is accounted for using the equity method of accounting. Summarized
financial information for our investment in Betazone assuming 100% ownership interest is as
follows:
In
2011, the Company’s share of Betazone’s losses became equal in amount to the carrying value of its investment in
Betazone. Accordingly, the Company suspended the equity method of accounting for its investment and no additional
losses were charged to operations. The Company’s unrecorded share of losses for the six months ended June 30, 2012
totaled $76,465.
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NOTE 5 – Equity Method Investments
Our significant unconsolidated subsidiary that is accounted for using the equity method of accounting is our investment in Betazone Laboratories LLC. Summarized financial information for our Invesment in Betazone Laboratories, LLC assuming 100% ownership interest is as follows:
In 2011, when the company’s share of losses equaled the carrying value of its investment, the equity method of accounting was suspended, and no additional losses were charged to operations. The company’s unrecorded share of losses for 2011 totaled $3,245.
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