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EX-32 - EXHIBIT 32.1 - IRIS BIOTECHNOLOGIES INCirsb11132012exh321.htm
EX-31 - EXHIBIT 31.1 - IRIS BIOTECHNOLOGIES INCirsb11132012exh311.htm
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10-Q - FORM 10-Q - IRIS BIOTECHNOLOGIES INCirsb11082012form10q.htm
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v2.4.0.6
COMMITMENTS AND CONTINGENCIES
3 Months Ended
Sep. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

 NOTE 6 - COMMITMENTS AND CONTINGENCIES

 

Litigation

 

On May 16, 2012, a complaint was filed against the Company in Superior Court of California, County of Humboldt by Kenneth Stiver.  The complaint alleges that the Company has not paid Mr. Stiver for services rendered and is seeking a total sum of $86,000 plus reimbursement of expenses for $9,898.  The Company denies all allegations against it and is vigorously defending itself against this complaint, and accordingly no liability has been recognized as of September 30, 2012.

 

On August 20, 2012, the Company filed a motion to allow late filing of a malpractice claim against Heller Ehrman LLP, discovered after claims bar date, in the United States Bankruptcy Court, Northern District of California, San Francisco Division. The first hearing was held on November 1, 2012 before the Honorable Dennis Montali, United States Bankruptcy Judge at San Francisco, California.

 

We are not a party to any additional pending legal proceedings, nor is our property the subject of a pending legal proceeding, that is not in the ordinary course of business or otherwise material to the financial condition of our business.