Annual report pursuant to section 13 and 15(d)

OCAST Grant

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OCAST Grant
12 Months Ended
Dec. 31, 2012
Oklahoma Center For Advancement Of Science and Technology Grant [Abstract]  
OCAST Grant

Note 5 – OCAST Grant

 

The Oklahoma Center for the Advancement of Science and Technology approved the Company’s application for funding of a matching grant titled 800 Million Voxels Volumetric Display, on November 19, 2008.  The two-year matching grant, totaling $299,984, had a start date of January 1, 2009.  The Company received approval for a no cost extension request for the first year of the contract. With the new modification, the first year ended on August 31, 2010.  The award is for a maximum of $149,940 for 2009 and the remainder for 2011.  The Company earned $63,668 and $86,323 from the grant during the years ended December 31, 2012 and 2011, respectively and $281,492 from inception to date.  The Company received approval for a no cost extension request for the second year of the contract and, with the new modification, the second year ended on August 31, 2012. The Company has applied for the remaining $13,029 of grant funds that were earned through the end of the grant period, August 31, 2012.

 

During the years ended December 31, 2012 and 2011, the Company charged operations $13,071 and $37,363, respectively, pursuant to the direct costs incurred and for the use of the OU lab facilities in regard to the OCAST grant.