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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 14: SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date of this report which is the date the consolidated financial statements were available to be issued. All subsequent events requiring recognition as of March 31, 2013 have been incorporated into these consolidated financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events”, except as follows:

 

From April 1, 2013 through the date of this report, the Company has sold a total of 225,000 shares of Common Stock to Aspire Capital Fund LLC under the stock purchase agreement dated March 27, 2013 with aggregate gross proceeds to the Company of $1,266,325.

 

On April 30, 2013, the company entered into a Distribution and Marketing Services Agreement with Millennium Medical Devices LLC, pursuant to which Millennium will market and distribute the Company’s MASCT system and ForeCYTE breast health test kits in New York City and Northern New Jersey. Millennium has placed an initial order for 10,000 patient collection kits.