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CONTINGENT VALUE RIGHTS PAYABLE
3 Months Ended
Sep. 30, 2011
Contingent Value Rights [Abstract]  
Contingent Value Rights Disclosure [Text Block]

6.  CONTINGENT VALUE RIGHTS PAYABLE

 

On January 13, 2011, Holdings entered into a Contingent Value Rights Agreement (the “CVR Agreement”) pursuant to which Holdings common stockholders of record as of January 25, 2011 received one contingent value right (a “CVR”) for each share of Holdings common stock held by them.  Each CVR shall entitle the holder thereof to its pro rata portion of a payment to be received by Holdings pursuant to a Settlement Agreement and Mutual Release with EOIR Holdings LLC and EOIR Technologies, Inc. (the “Settlement Agreement”), less certain expenses (subject to adjustments for future events)  that will be deducted from such payment.  The contingent value rights payable was acquired by AccelPath in the reverse acquisition.  At September 30, 2011, management estimates that the cash payment will be $3,242,405 or approximately $0.099 per CVR.