Baralyme Agreement

3 Months Ended

Sep. 30, 2012

Deferred Revenue Disclosure [Abstract]

Deferred Revenue Disclosure [Text Block]

6. Baralyme® Agreement

A reconciliation of deferred revenue resulting from the agreement with Abbott Laboratories (“Abbott”), with the amounts received under the agreement, and amounts recognized as net sales is as follows:

	Three Months ended
	September 30,
	2012			2011
Beginning balance	$	114,700		$	802,900
Revenue recognized as net sales		(114,700	)		(172,050	)
		0			630,850
Less - Current portion of deferred revenue		0			(630,850	)
	$	-		$	-

In addition to the provisions of the agreement relating to the withdrawal of the Baralyme® product, Abbott agreed to pay Allied up to $2,150,000 in product development costs to pursue development of a new carbon dioxide absorption product for use in connection with inhalation anesthetics that does not contain potassium hydroxide and does not produce a significant exothermic reaction with currently available inhalation agents. As of September 30, 2012, $2,150,000 has been received as a result of product development activities.