Quarterly report pursuant to Section 13 or 15(d)

Equity Method Investments

Equity Method Investments

3 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

NOTE 8 - Equity Method Investments.

Our investment in BetaZone Laboratories LLC (“Betazone”), 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:

	September 30, 2013			December 31, 2012
Balance sheet
Current assets		66,264			3,825
Current liabilities		383,379			301,864

Statement of operations		Nine Months ended September 30, 2013			Year ended December 31, 2012
Revenues		47,893			40,002
Net loss		(19,075	)		(272,935	)

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 the nine months ended September 30, 2013 totaled $8,584.

As of August 14, 2013, Betazone was liquidated.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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