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Note 28 - Subsequent Event (Unaudited)
12 Months Ended
Dec. 31, 2011
Subsequent Events [Text Block]
28. Subsequent Events (Unaudited)

In January 2012, we made an additional investment in Tarsa by purchasing convertible promissory notes in the principal amount of $650,571 and warrants to purchase up to an aggregate of 67,435 shares of Series A Preferred Stock.  As a result of such investment, we expect to recognize a loss on the investment as the accumulated losses of Tarsa exceed the carrying value of the original investment.

In March 2012, Tarsa announced the closing of a Series B Preferred Stock financing. Prior to such closing, Unigene owned 9,215,000 shares of Tarsa's common stock, three convertible promissory notes in the aggregate principal amount of $3,469,714, and warrants to purchase Tarsa's Series A Preferred Stock.  At the time of the closing of the Series B Preferred Stock financing, the convertible promissory notes, including all principal and accrued interest, were converted into 3,662,305 shares of Tarsa's Series A Preferred Stock.  Unigene did not acquire any of Tarsa's Series B Preferred Stock in the financing.  As a result, following the closing of Tarsa's Series B Preferred Stock financing, Unigene owned approximately 16% of the outstanding capital stock of Tarsa, on a fully-diluted basis.  Unigene's ownership position in Tarsa is subject to potential future dilution, including dilution as a result of a potential second Series B closing.