Investments

12 Months Ended

Dec. 31, 2013

Notes to Financial Statements

Note 7. Investments

	Warrants Held			Options Held		Recognized Gain/(Loss)
Balance as of December 31, 2012		373,917			-	115,752
Warrants issued for consideration of debt extension		(264,000	)		-		86,944
Balance as of December 31, 2013		109,917			-		-

   In May 2011, FluoroPharma, Inc. ("FPI") entered into a reverse merger with FPMI.  In connection with this transaction, the Company's warrants and options in FPI were exchanged for warrants and options in FPMI.  During the year ended December 31, 2012, all options held by the Company in FPMI were exchanged for substantially identical warrants in FPMI.  During 2012, the Company issued 277,500 warrants, exercisable at $.50 and set to expire April 19, 2014, in consideration for the extension on the terms of notes set to mature during the year.  The Company recognized a gain in the amount of $115,752 as a result of the warrants issued in consideration of debt extension.   During 2013, the company issued $264,000 warrants exercisable at $1.00 in consideration for promissory notes issued during 2013.  The Company recognized a gain of $86,944, as a result of the warrants issued in consideration of debt.

As of December 31, 2013, the Company retained control over 109,917 warrants exercisable at $1.00 that are set to expire on February 15, 2019.  The Company continues to deem the value of the $1.00 FPMI warrants to be fully impaired at December 31, 2013.

In May 2006, the Company purchased 144,024 shares of GUSA common stock for $200,000. 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, 2013 and December 31, 2012.