NOTE 9 - Subsequent Events
On October 15, 2012, O and S Research, Inc., the wholly owned subsidiary of OPT-Sciences Corporation, entered into an agreement to purchase the property at 1900 Bannard Street in Cinnaminson, New Jersey for $367,500. This sale was subject to the customary conditions including environmental and title contingencies. Assuming that the conditions are satisfied on a timely basis by the seller, it is anticipated that closing will take place during fiscal year 2013.
At the November 28, 2012 meeting of the Board of Directors, a dividend of $.65 per share was authorized to shareholders of record on December 10, 2012 to be paid on or before December 21, 2012.