Note 19 – Subsequent Events

On October 2, 2015, the Company settled the lawsuit with Lawrence Martin. Subject to the exclusions allowed under the Settlement Agreement regarding confidentiality, the Company shall pay a cash amount of $75,000 paid over 12 months to Mr. Martin as well as assign back U.S. patents 7,285,246 and 7,837,936 on or before January 1, 2016. Additionally, the existing royalty obligations under the Purchase Agreement of 2007, as amended on April 18, 2012, of the Company to Mr. Martin shall be in force until January 1, 2016 when the 2007 Purchase Agreement, as amended on April 18, 2012, shall be terminated. Additionally, the parties provided to each other full releases from all claims against each other starting from the beginning of time until the date of the October 2 Settlement Agreement.

On November 4, 2015, the Company announced that the China Food and Drug Administration (“CFDA”) approved for medical use throughout Mainland China, the Company’s PIFA Heparin/PF4 rapid diagnostic test.