INVESTMENT IN IMAGION BIOSYSTEMS

9 Months Ended

Sep. 30, 2019

INVESTMENT IN IMAGION BIOSYSTEMS

NOTE 4 - INVESTMENT IN IMAGION BIOSYSTEMS

As of September 30, 2019, the Company owns 63,999,476 shares of Imagion Biosystems (Imagion), resulting in a noncontrolling interest of Imagions issued and outstanding common stock. Initially, the Company held approximately 31% of Imagions total issued and outstanding common stock and was later was decreased to approximately 19%. Based upon Imagions trading price on September 30, 2019, approximately $0.033 per share, the fair value of the Imagion shares was approximately $2,114,000. During the nine months ended September 30, 2019, the Company recorded an unrealized gain in its investment of $764,000.

During the nine months ended September 30, 2019, the Company sold 100,000 shares of Imagion and received cash proceeds of $2,480.