In the United States and Europe, revenues in the wound care market continue to increase due to increased rates of obesity, diabetes, an aging population and improved access to health care, according to a report by Rodman & Renshaw, which also estimates the market is $15 billion per year. Chronic, non-healing wounds are prevalent and costly. We are developing a topical gel based on our oxygenating perfluorocarbon formula to supply oxygen to the injured tissue. When a wound heals the speed of the healing is largely dependent on how much oxygen the key tissues get during their healing phase. We believe that our product has the potential to dramatically increase the speed of oxygen delivery, thereby increasing the speed of healing. Initial preclinical studies showed encouraging results of increased ephitheliazation. In addition, Department of Defense funded preclinical studies using our topical gel are being conducted by Hackensack University Medical Center.