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RELATED PARTIES
3 Months Ended
Mar. 31, 2012
Related Parties  
RELATED PARTIES
NOTE K – RELATED PARTIES

Purchases by Related Parties

During the three months ended March 31, 2012 and 2011, the Company sold its products to Dr. Bernick  in the amounts of $1,440 and $5,090, respectively, while $1,440 and $0 remained outstanding at March 31, 2012 and December 31, 2011, respectively.
 
Agreements with Pernix Therapeutics, LLC

On February 29, 2012, Cooper C. Collins, President and largest shareholder of Pernix Therapeutics, LLC (“Pernix”), was elected to serve on the Company’s Board of Directors.  The Company closed a Stock Purchase Agreement with Pernix on October 4, 2011.  From time to time, the Company has, and will continue to, enter into agreements with Pernix in the normal course of business.  During the three months ended March 31, 2012 and 2011, the Company made purchases of approximately $96,000 and $19,300, respectively, from Pernix.   During the three months ended March 31, 2012 and 2011, royalties in the amount of approximately $2,400 and $0, respectively were accrued.  At March 31, 2012 and December 31, 2011, amounts owed to Pernix of approximately $98,400 and $19,300, respectively, remained outstanding.