Annual report pursuant to Section 13 and 15(d)

RELATED PARTY TRANSACTIONS

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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2011
RELATED PARTY TRANSACTIONS [Abstract]  
RELATED PARTY TRANSACTIONS
NOTE 3 - RELATED PARTY TRANSACTIONS
 
On occasion we may engage in certain related party transactions. Pursuant to our Audit Committee charter, our policy is that all related party transactions are reviewed and approved by the Board of Directors or Audit Committee prior to our entering into any related party transactions.
 
In the event SCO Capital Partners LLC (SCO) and its affiliates were to convert all of their shares of Series A Preferred Stock and exercise all of their warrants, they would own approximately 44.1% of the voting securities of Access. During 2011 and 2010, SCO and affiliates charged $300,000 each year in investor relations fees.
 
In connection with the sale and issuance of Series A Preferred Stock and warrants, we entered into a Director Designation Agreement whereby we agreed to continue SCO's right to designate two individuals to serve on the Board of Directors of Access.
 
Dr. Esteban Cvitkovic, a Director, has served as a consultant and Senior Director, Oncology Clinical Research & Development, since August 2007. Dr. Cvitkovic receives payments for consulting expenses and reimbursement of direct expenses. In March 2011, Dr. Cvitkovic also received 35,000 shares of our common stock valued at $71,000 for his consulting. Dr. Cvitkovic's payments for consulting services and expense reimbursements are as follows:
 
 
                Fair Value  
    Consulting     Expense     of Restricted  
 Year   Fees     Reimbursement     Stock  
 2011   $ 139,000     $ 14,000     $ 71,000  
 2010   $ 132,000     $ -     $ -  
 
                      
Mark J. Ahn, Ph.D., a Director, received payments for consulting services and reimbursement of direct expenses for scientific consulting in 2010 and none in 2011. Dr. Ahn's 2010 payments for consulting services and expense reimbursements are as follows:
 
 
                Fair Value  
    Consulting     Expense     of Restricted  
 Year   Fees     Reimbursement     Stock  
 2010   $ 5,000     $ 4,000     $ 23,000