Note 10. Subsequent Events

6 Months Ended

Jun. 30, 2011

10.

Subsequent Events. 400,000 shares were issued to Claudia Walters in July 2011 and 200,000 shares in August 2011 associated with services rendered pursuant to the consulting contract of June 22, 2011. The contract is effective through December 31, 2011. The shares were issued under authority of the First Amended and Restated 2011 Consultants Stock Grant Plan and were registered on Form S-8.

On July 20, 2011, Dennis Moore, a director, purchased 76,923 shares of common stock under authority of the Amended and Restated 2008 Directors, Officers, and Consultants Stock Purchase Plan, and were registered on Form S-8.

On July 1, 2011, 3,246,753 shares of ABI common stock were issued to Rui Figueiredo associated with services rendered pursuant to a consulting agreement entered into on June 27, 2011 for the purpose of providing multimedia services to the Company for a six-month period. The shares were issued under authority of the First Amended and Restated 2011 Consultants Stock Grant Plan and were registered on Form S-8.

On June 27, 2011, the Company entered into an agreement with Interactive Business Alliance, LLC for consultation and rendering of public relations and communications services for a period of six months beginning in July 2011. For consultation services rendered, the Company agreed to pay 1,250,000 shares of Rule 144 Restricted AMAR stock. 1,250,000 shares were issued on July 8, 2011 under authority of the First Amended and Restated 2011 Consultants Stock Grant Plan.

Kimball Miller was issued 200,000 shares in July and 200,000 shares in August, 2011 for consulting. The shares were issued under authority of the First Amended and Restated 2011 Consultants Stock Grant Plan and were registered on Form S-8.

On August 1, 2011, the Company entered into an Agreement with Drew Alexander for mutually agreed upon consulting services in exchange for a fee of $200 per hour. The contract may be extended upon mutual consent of the parties. Consultant will render advice relative to Indian tribes in Oklahoma and various matters as requested by ABI.

Mr. Alexander purchased 60,000 shares of common stock on August 3, 2011 under the authority of the Amended and Restated 2008 Directors, Officers, and Consultants Stock Purchase Plan, and were registered on Form S-8.

On August 21, 2011, the Company entered into the Option for License Agreement and Technology Transfer between Amarillo Biosciences and Colorado Serum Company. The Business Objective is to achieve the successful commercialization of products containing bovine or other animal cytokines (Extract) for human and animal health. The term of the agreement is for one year from the execution date of the agreement.