ADVANCED OPTICS ELECTRONICS, INC.
(A Development Stage Company)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED)
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3. INVESTMENT IN GENOMED, INC.
On January 8, 2004, the Company entered into a Stock Sale Agreement (the
"Agreement") with GenoMed, Inc., a Florida corporation ("GenoMed") whereby the
Company purchased approximately 33,300,000 shares of restricted common stock of
GenoMed for $900,000 in cash, representing approximately 17.9% of the total
outstanding shares of GenoMed immediately after the execution of the Agreement.
The Company has accounted for this investment under the cost method as it cannot
exercise significant influence over the operating and financial policies of
GenoMed. In addition, the Company holds approximately 193,000 shares of free
trading common stock of GenoMed not acquired in connection with the Agreement,
which the Company has classified as marketable securities in the accompanying
condensed financial statements.
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