Concentrations of Risk

6 Months Ended

Jun. 30, 2012

Concentrations of Risk

Concentrations of Risk

5.Concentrations of Risk

The Company maintains cash balances at several banks.  Interest bearing accounts at each institution are insured by the Federal Deposit Corporation up to $250,000.  At June 30, 2012, the Company’s cash and cash equivalents in excess of the FDIC limits were $3.9 million.  The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks.

During the six months ended June 30, 2012 and 2011, 100% of our revenue was generated from the Health Sciences business.  For the six months ended June 30, 2012, revenue from four customers accounted for 34%, 24%, 11% and 10% of revenues, respectively.  For the six months ended June 30, 2011, revenue from two customers accounted for 44% and 23% of revenues, respectively.  At June 30, 2012, four major contracts constituted 67% of the trade accounts receivable, the components of which were 24%, 18%, 13% and 12%, respectively.  At December 31, 2011, three major contracts constituted 62% of the trade accounts receivable, the components of which were 35%, 14% and 13%, respectively.  No other single contract was greater than 10% of total trade accounts receivable.