Note 4 - Commitments

3 Months Ended

Jun. 30, 2011

Commitments and Contingencies Disclosure [Text Block]

4.           Commitments

Lease Agreement

We lease approximately 8,400 square feet of office and laboratory space located in Smyrna, Georgia (metropolitan Atlanta).  Future minimum lease payments pursuant to the operating lease total $59,300 for the remainder of 2011, $121,560 in 2012, $125,180 in 2013 and $128,920 in 2014.

Other Commitments

In the normal course of business, we may enter into various firm purchase commitments related to production and testing of our vaccine material, conduct of clinical trials, and other research-related activities. As of June 30, 2011, we had approximately $406,000 of unrecorded outstanding purchase commitments to our vendors and subcontractors, of which we expect $105,000 will be due in 2011, $211,000 in 2012, and $90,000 in 2013.