COLLABORATIVE RESEARCH AND DEVELOPMENT ARRANGEMENTS

3 Months Ended

Mar. 31, 2012

COLLABORATIVE RESEARCH AND DEVELOPMENT ARRANGEMENTS [Abstract]

COLLABORATIVE RESEARCH AND DEVELOPMENT ARRANGEMENTS

NOTE  3 - COLLABORATIVE RESEARCH AND DEVELOPMENT ARRANGEMENTS:

a)     National Institutes of Health (NIH) Grant:

In June 2009, the Company received a $2.8 million, three-year grant from the United States National Institutes of Health to complete development of a test for Leptospirosis.  Grants are invoiced after expenses are incurred.   The Company earned $155,000 and $193,000 for the three-month periods ended March 31, 2012 and 2011, respectively from this grant. The Company earned an aggregate of $2,640,000 from this grant from inception through March 31, 2012, of which $874,000 was paid to sub-contractors.

In March 2011, the Company received a $2.4 million, three-year grant from the United States National Institutes of Health to complete development of a test for Tuberculosis.  Grants are invoiced after expenses are incurred.  The Company earned $125,000 and $48,000 for the three-month periods ended March 31, 2012 and 2011, respectively from this grant. The Company earned $692,000 from this grant from inception through March 31, 2012 of which $217,000 was paid to sub-contractors.