Note 4 - Commitments

9 Months Ended

Sep. 30, 2012

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 62 month operating lease total $30,840 for the remainder of 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 our clinical trials, and other research-related activities. As of September 30, 2012, we had approximately $532,000 of unrecorded outstanding purchase commitments to our vendors and subcontractors, of which we expect $387,000 will be due in 2012 and $145,000 in 2013.