Subsequent Events
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12 Months Ended |
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Dec. 31, 2012
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Subsequent Events [Abstract] | |
Subsequent Events |
NOTE 14 - Subsequent Events
Management has evaluated events occurring after the date of these financial statements through the date these financial statements were issued. There were no material subsequent events as of that date other than disclosed below.
On February 22, 2013 and March 7, 2013, we liquidated Equachem and Equalan, respectively, and transferred their activities to BioZone Labs in an effort to reduce selling and administrative expenses.
On March 22, 2013, BioZone Laboratories, Inc., a wholly-owned subsidiary of Biozone Pharmaceuticals, Inc. entered into a Factoring and Security Agreement with Midland American Capital Corporation (Midland) pursuant to which Midland will provide up to $1,500,000 of financing, on a discretionary basis, against the Companys account receivables.
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