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Commitments

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

NOTE 13 - Commitments

Under agreements for the acquisition of industrial technology, the Company through its subsidiary was committed at June 30, 2012 as follows:

Payments for acquisition of technology over a 4 year period		$	180,610
Minimum royalties over a 5 year period Euro 120,000		$	171,200

During the first half of 2012, the Company’s subsidiary made payments aggregating $180,904 to EPFL as required under the agreement between SwissINSO and EPFL for the acquisition of technology.

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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