Segment Reporting

3 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting:

The Company operates two primary business segments. The Company evaluates the segments by revenues, total expenses and earnings before taxes. Corporate Overhead (primarily the salaries and benefits of senior management, support services (Accounting, Legal, Human Resources and Purchasing) and other shared services (building maintenance and warehousing)) are excluded from the business segments as to not distort the contribution of each segment. These segments are the lowest levels for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities.

The results for the three months ended September 30, by segment are:

	Polymer	Medical	Corporate
2012	Research	Products	Overhead	Total
Revenues	$    944,483	$ 322,007		$ 1,266,490
Expenses	(777,871)	(221,024)	$ (373,043)	(1,371,938)
Pre-tax Income (Loss)	$    166,612	$ 100,983	$ (373,043)	$  (105,448)
2011
Revenues	$ 1,092,324	$ 356,273		$ 1,448,597
Expenses	(885,546)	(286,360)	$ (400,690)	(1,572,596)
Pre-tax Income (Loss)	$    206,778	$   69,913	$ (400,690)	$  (123,999)

Geographic revenues were as follows for the three months ended September 30

	2012	2011
Domestic	68%	66%
Foreign	32%	34%