Note 2 - Investment in Joint Venture	12 Months Ended
Dec. 31, 2010
Note 2 - Investment in Joint Venture:
Note 2 - Investment in Joint Venture	NOTE 2 – INVESTMENT IN JOINT VENTURE During December 2010, SanguiBioTech GmbH established a joint venture company with SanderStrothmann GmbH of Georgsmarienhuette, Germany, under the name of sastOmed GmbH. This new enterprise is charged with obtaining the CE mark certification authorizing the distribution of the Hemospray wound spray in the member states of the European Union. SanguiBioTech GmbH has granted SastoMed GmbH global distribution rights in this regard. In exchange SanguiBioTech GmbH will be paid royalties on all future sales of this product. The Company owns 25 percent of the joint venture and accounts for its interest in the joint venture using the cost method of accounting. The Company invested $8,508 in the joint venture during the year ended June 30, 2011. Due to the fact that the carrying value of the investment exceeded its fair value the investment was impaired fully in 2011.

Note 2 - Investment in Joint Venture

12 Months Ended

Dec. 31, 2010

Note 2 - Investment in Joint Venture:

NOTE 2 – INVESTMENT IN JOINT VENTURE

During December 2010, SanguiBioTech GmbH established a joint venture company with SanderStrothmann GmbH of Georgsmarienhuette, Germany, under the name of sastOmed GmbH. This new enterprise is charged with obtaining the CE mark certification authorizing the distribution of the Hemospray wound spray in the member states of the European Union. SanguiBioTech GmbH has granted SastoMed GmbH global distribution rights in this regard. In exchange SanguiBioTech GmbH will be paid royalties on all future sales of this product. The Company owns 25 percent of the joint venture and accounts for its interest in the joint venture using the cost method of accounting.

The Company invested $8,508 in the joint venture during the year ended June 30, 2011. Due to the fact that the carrying value of the investment exceeded its fair value the investment was impaired fully in 2011.