Related Party Transactions

12 Months Ended

Jun. 30, 2013

9. Related Party Transactions

Stavros Vizigianakis was appointed to the Board of Directors on May 7, 2013. Mr. Vizigianakis owns a controlling interest in MD Solutions Australasia PTY Ltd. and a family member owns one hundred percent of Applied BioSurgical; both independent distributors for the Company. The distributor agreements pre-date Mr. Vizigianakis’ appointment to the Board of Directors.

Set forth below is a table showing the Company’s net sales and accounts receivable for the years ended June 30, 2013 and June 30, 2012 with these distributors:

For the years ended June 30,

Applied Bio Surgical	2013		2012

Sales	$	489,592	$	427,767
Accounts receivable		130,123		171,834

MD Solutions Australasia PTY Ltd.	2013		2012

Sales	$	335,274	$	200,870
Accounts receivable		18,700		34,937

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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