Investments

3 Months Ended

Mar. 31, 2014

Notes to Financial Statements

Note 4. Investments

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 in FPI were exchanged for warrants in FPMI (the “FPMI Warrants”). During 2012, the Company recognized a gain in the amount of $115,752 as a result of the issuance of certain of these warrants to holders of promissory notes of the Company that matured during the period. Each FPMI Warrant is exercisable for $1.00 per share and expires on February 15, 2019. As of March 31, 2014, the Company retained control over 109,917 warrants, the value of which has been deemed by the Company to be fully impaired.