SUBSEQUENT EVENTS

9 Months Ended

Jun. 30, 2012

SUBSEQUENT EVENTS

11. SUBSEQUENT EVENTS

On July 4, 2012, Anthony S. Chilton, Ph.D., notified the Board of Directors of the Company of his intent to resign as President and Chief Executive Officer of the Company effective as of July 5, 2012 in order to pursue other opportunities. The Company elected Jacqueline M. Lemke to serve as Interim President and Chief Executive Officer of the Company in addition to her position as Chief Financial Officer and Vice President – Finance.

On July 12, 2012, the Company listed for sale our 7.25 acres and 120,000 square foot facility at 2701 Kent Avenue, West Lafayette, Indiana with the intent to leaseback 80% of that square footage in which to continue our laboratory and manufacturing operations. The asking price was $12,500. As of June 30, 2012 the net book value of the facility and land was $9,798.