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Business Acquisition - Dynasil Biomedical
6 Months Ended
Mar. 31, 2012
Business Combinations [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures [Text Block]

Note 9 – Business Acquisition – Dynasil Biomedical

 

On April 14, 2011, Dynasil announced the incorporation of Dynasil Biomedical Corp. as a new business unit to pursue opportunities in the medical field. Through a purchase of assets, Dynasil Biomedical completed the purchase of specific rights to six biomedical technologies invented or co-invented by Dr. Daniel Ericson for $300,000 in cash. Dr. Ericson has joined Dynasil Biomedical as Scientific Lead for research and development. The asset purchase had no impact on the comparative unaudited financial information as reported.