NOTE 2 SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2012

Significant Accounting Policies [Text Block]

NOTE 2  SIGNIFICANT ACCOUNTING POLICIES

Inventory

The Company’s inventory consists of its AsepticSure product and is valued on a “first-in first-out” basis at the lower of average cost or market. The Company purchases its inventory as a finished product from unrelated manufacturing companies. The Company writes off 100% of the cost of inventory that it specifically identifies and considers obsolete or excessive to fulfill future sales estimates. The Company did not deem any inventory obsolete or excessive as of September 30, 2012.

Revenue Recognition

The Company recognizes revenue when it ships its products, reasonably expects to receive payment from its customers and training has been completed. The Company records customer deposits that have not yet been earned as unearned revenue. Revenue is recognized only when title and risk of loss passes to customers.