INVESTMENTS	12 Months Ended
Dec. 31, 2011
Notes to Financial Statements
NOTE 8- INVESTMENTS	FluoroPharma, Inc. In May 2011, Fluoropharma, Inc. (“FPI”) entered into a reverse merger with Fluoropharma Medical, Inc. (“FPMI”). In connection with this transaction, the Company’s warrants and options in FPI were exchanged for options and warrants in FPMI. At December 31, 2011, the Company held 277,500 options exercisable at $.50 and 249,278 warrants exercisable at $1.00. From January 2010 to August 2010, the Company entered into certain agreements with certain investors pursuant to which the Company sold 1,155,000 shares of common stock of FPMI to such investors at a price of $0.75 per share, resulting in aggregate proceeds of $866,250. During October 2010, the Company entered into certain agreements with certain investors, pursuant to which the Company exchanged substantially all of its equity interest in FPMI and shares of newly created Series B Preferred with a stated value of approximately $177,000 for and in consideration for cash aggregating $789,704, and the termination of certain shares of Series A-1 Preferred with a stated value of approximately $4.45 million (the “Exchange”). Contemporaneously with the consummation of the Exchange, on November 19, 2010, the Company filed a Certificate of Withdrawal of the Certificates of Designations of the Series A Preferred with the Nevada Secretary of State, as no shares or such preferred stock were issued and outstanding following the Exchange. In December 2010, the Company reserved its remaining 20,000 shares of common stock of FPMI for issuance to an executive to settle amounts due that executive. As of December 31, 2011, the Company had 277,500 options and 249,278 warrants to purchase common stock of FPMI with exercise prices of $0.50 and $1.50, respectively and expiring at various dates in 2014. The Company has estimated the fair value of the options and warrants at $129,692 and $76,582, respectively, in accordance with ASC Topic 820, Level 3. At December 31, 2011, the Company deems the options and warrants to be fully impaired. Genomics USA, Inc. In May 2006, the Company purchased 144,024 shares of GMS common stock for $200,000. As of December 31, 2010 and 2009, the Company owned 12% of the issued and outstanding capital stock of GMS. The Company uses the cost method to account for this investment since the Company does not control nor have the ability to exercise significant influence over operating and financial policies. In accordance with the cost method, the investment is recorded at cost and impairment is considered in accordance with the Company’s impairment policy. No impairment was recognized for the years ended December 31, 2011 and December 31, 2010.

INVESTMENTS

12 Months Ended

Dec. 31, 2011

FluoroPharma, Inc.

In May 2011, Fluoropharma, Inc. (“FPI”) entered into a reverse merger with Fluoropharma Medical, Inc. (“FPMI”). In connection with this transaction, the Company’s warrants and options in FPI were exchanged for options and warrants in FPMI. At December 31, 2011, the Company held 277,500 options exercisable at $.50 and 249,278 warrants exercisable at $1.00.

From January 2010 to August 2010, the Company entered into certain agreements with certain investors pursuant to which the Company sold 1,155,000 shares of common stock of FPMI to such investors at a price of $0.75 per share, resulting in aggregate proceeds of $866,250.

During October 2010, the Company entered into certain agreements with certain investors, pursuant to which the Company exchanged substantially all of its equity interest in FPMI and shares of newly created Series B Preferred with a stated value of approximately $177,000 for and in consideration for cash aggregating $789,704, and the termination of certain shares of Series A-1 Preferred with a stated value of approximately $4.45 million (the “Exchange”). Contemporaneously with the consummation of the Exchange, on November 19, 2010, the Company filed a Certificate of Withdrawal of the Certificates of Designations of the Series A Preferred with the Nevada Secretary of State, as no shares or such preferred stock were issued and outstanding following the Exchange.

In December 2010, the Company reserved its remaining 20,000 shares of common stock of FPMI for issuance to an executive to settle amounts due that executive.

As of December 31, 2011, the Company had 277,500 options and 249,278 warrants to purchase common stock of FPMI with exercise prices of $0.50 and $1.50, respectively and expiring at various dates in 2014. The Company has estimated the fair value of the options and warrants at $129,692 and $76,582, respectively, in accordance with ASC Topic 820, Level 3. At December 31, 2011, the Company deems the options and warrants to be fully impaired.

Genomics USA, Inc.

In May 2006, the Company purchased 144,024 shares of GMS common stock for $200,000. As of December 31, 2010 and 2009, the Company owned 12% of the issued and outstanding capital stock of GMS.

The Company uses the cost method to account for this investment since the Company does not control nor have the ability to exercise significant influence over operating and financial policies. In accordance with the cost method, the investment is recorded at cost and impairment is considered in accordance with the Company’s impairment policy. No impairment was recognized for the years ended December 31, 2011 and December 31, 2010.