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Note 14 - Subsequent Events
3 Months Ended
Mar. 31, 2012
Subsequent Events [Text Block]
Note 14.  Subsequent Events

Additional Investment in NuGlow

In connection with NuGlow’s additional capital raise in April 2012, on April 9, 2012, the Company contributed an additional $27,000 to maintain its 30% interest in NuGlow. The Company concurrently entered into a Third Amendment to the Amended and Restated Operating Agreement of NuGlow Cosmaceuticals, LLC to amend the allocation and distribution of this additional capital contribution prior to other allocations or distributions thereunder.

Operating Lease Amendment

Effective April 23, 2012, the Company entered into a Fourth Amendment to Lease with Teachers Insurance & Annuity Association of America, Inc. (Landlord) pursuant to which the Company agreed to move its office and laboratory to a new location also in Bothell, Washington on or before the later of July 1, 2012 and the date on which the Landlord completes certain tenant improvements (the Commencement Date). The new premises, consisting of approximately 6,300 square feet of office and lab space, will be leased for an additional 72 months starting from the Commencement Date. Under the terms of the amended lease, annual lease payments are expected to be approximately $79,000 for the first year, $81,000 for the second year, $84,000 for the third year, $86,000 for the fourth year, $89,000 for the fifth year and $92,000 for the sixth year, plus building operating costs. The amended lease provides the Company a moving allowance not exceeding $7,500 and a conditional abatement of one month base rent based upon the Company’s performance of the terms, covenants and conditions of the amended lease. The Company believes that any moving expenses it may incur beyond the Landlord’s allowance will not be significant.