Commitments & Contingencies

9 Months Ended

Jun. 30, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments & Contingencies

NOTE 6. Commitments & Contingencies

Operating Leases

The Company has two operating leases for its laboratory facilities at the Burlington County College Science Incubator in Burlington, New Jersey. Each lease is for a term of one year with a monthly rent of $1,350 per laboratory. The total rent for laboratory facilities for the nine months ended June 30, 2013 was $27,300.

The Company has an operating lease for its office facilities at One Meridian Road in Eatontown, New Jersey. The lease is for a term of three years with monthly rent of $2,500. The total rent for office facilities for the nine months ended June 30, 2013 was $22,500.

Capital Lease

The Company has a capital lease for laboratory equipment. The minimum lease payments due on the capital lease are as follows.

2013	$	5,610
2014		22,440
2015		11,220
Total minimum lease payments		39,270
Less amounts representing interest		(1,828	)
Present value of net minimum lease payments	$	37,442

Payable to Parent

The Company has an unsecured liability without interest of $139,447 due to ACS Global, Inc., the majority shareholder of the Company, for certain expenses paid by ACS Global, Inc. in connection with the asset purchase transaction of April 2011. There is no maturity date associated with this liability.