| (Mark One) |
|------------|
|       |   |
| x          | Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|       | For the fiscal year ended December 31, 2010 or |
| ¨     | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|       | For the transition period from ___________________ to _______________________ |

| Massachusetts                                                  |   | 04-2652826                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) |   | (I.R.S. Employer Identification No.) |
| 14 Norfolk AvenueSouth Easton, Massachusetts                   |   | 02375                                |
| (Address of Principal Executive Offices)                       |   | ( Zip  Code)               |
| (508) 230-1828                                                 |   |                                 |
| (Registrant’s Telephone Number, Including Area Code)     |   |                                 |

| Securities registered pursuant to Section 12(b) of the Act:           |
|-----------------------------------------------------------------------|
| Title of Each Class                                              | Name of Each Exchange on Which Registered  |
| Common Stock, par value $.01 per sharePreferred Share Purchase Rights | The Nasdaq Stock Market, LLC |
|                                                                  |
| Securities registered pursuant to Section 12(g) of the Act:           |
|                                                                  |
| (Title of Class)                                                      |

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|     |                                                                                                               | Page     |
|----------|--------------------------------------------------------------------------------------------------------------------|----------|
|     |                                                                                                               |     |
|     | PART I                                                                                                             |     |
|     |                                                                                                               |     |
| Item 1.  | Business                                                                                                           |  1  |
|     |                                                                                                               |     |
| Item 1A. | Risk Factors                                                                                                       | 15       |
|     |                                                                                                               |     |
| Item 1B. | Unresolved Staff Comments                                                                                          | 23       |
|     |                                                                                                               |     |
| Item 2.  | Properties                                                                                                         |  23 |
|     |                                                                                                               |     |
| Item 3.  | Legal Proceedings                                                                                                  |  23 |
|     |                                                                                                               |     |
| Item 4.  | (Removed and Reserved)                                                                                             | 23       |
|     |                                                                                                               |     |
|     | PART II                                                                                                            |     |
|     |                                                                                                               |     |
| Item 5.  | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |  24 |
|     |                                                                                                               |     |
| Item 6.  | Selected Financial Data                                                                                            |  27 |
|     |                                                                                                               |     |
| Item 7.  | Management’s Discussion and Analysis of Financial Condition and Results of Operation                         | 27       |
|     |                                                                                                               |     |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk                                                         | 36       |
|     |                                                                                                               |     |
| Item 8.  | Financial Statements and Supplementary Data                                                                        | 39       |
|     |                                                                                                               |     |
| Item 9.  | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                               | 60       |
|     |                                                                                                               |     |
| Item 9A. | Controls and Procedures                                                                                            | 60       |
|     |                                                                                                               |     |
| Item 9B. | Other Information                                                                                                  | 61       |
|     |                                                                                                               |     |
|     | PART III                                                                                                           |     |
|     |                                                                                                               |     |
| Item 10. | Directors, Executive Officers and Corporate Governance                                                             | 62       |
|     |                                                                                                               |     |
| Item 11. | Executive Compensation                                                                                             | 63       |
|     |                                                                                                               |     |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                     | 63       |
|     |                                                                                                               |     |
| Item 13. | Certain Relationships and Related Transactions, and Directors Independence                                         | 63       |
|     |                                                                                                               |     |
| Item 14. | Principal Accounting Fees and Services                                                                             | 63       |
|     |                                                                                                               |     |
|     | PART IV                                                                                                            |     |
|     |                                                                                                               |     |
| Item 15. | Exhibits and Financial Statement Schedules                                                                         | 64       |

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|   | -  | our ability to raise additional equity or debt financing on acceptable terms, if at all;                                                                                                                                       |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | -  | our need to take additional cost reduction measures, cease operations or sell our operating assets, if we are unable to obtain sufficient additional financing in the future;                                                  |
|   | -  | the alternatives we may seek in light of our financial condition;                                                                                                                                                              |
|   | -  | the amount of cash necessary to operate our business;                                                                                                                                                                          |
|   | -  | the anticipated uses of grant revenue and increased grant revenue in future periods;                                                                                                                                           |
|   | -  | our plans and expectations with respect to our pressure cycling technology (PCT) operations;                                                                                                                                   |
|   | -  | our belief that PCT has achieved significant market acceptance in the mass spectrometry market;                                                                                                                                |
|   | -  | the expected development and success of new product offerings;                                                                                                                                                                 |
|   | -  | the potential applications for PCT in, and the demonstration of proof-of-concept of PCT for, pathogen inactivation, protein purification, control of chemical reactions and immunodiagnostics, among others;                   |
|   | -  | the expected benefits and results from our research and development efforts;                                                                                                                                                   |
|   | -  | the expected benefits and results from our collaboration program, strategic alliances and joint ventures;                                                                                                                      |
|   | -  | our expectation of obtaining additional research grants from the government in the future;                                                                                                                                     |
|   | -  | our expectations of the results of our development activities funded by government research grants;                                                                                                                            |
|   | -  | general economic conditions;                                                                                                                                                                                                   |
|   | -  | the anticipated future financial performance and business operations of our company;                                                                                                                                           |
|   | -  | our reasons for focusing our resources in the market for genomic, proteomic and small molecule sample preparation;                                                                                                             |
|   | -  | the importance of mass spectrometry as a laboratory tool;                                                                                                                                                                      |
|   | -  | the advantages of PCT over other current technologies as a method of sample extraction and for other applications, including pathogen inactivation, protein purification, control of chemical reactions and immunodiagnostics; |
|   | -  | sample preparation may be an impediment to research and discovery;                                                                                                                                                             |
|   | -  | the capabilities and benefits of our PCT sample preparation system and consumable products;                                                                                                                                    |
|   | -  | that other laboratory scientists will achieve results comparable to those reported to date by certain research scientists who have published or presented publicly on PCT; and                                                 |
|   | -  | our ability to expand our customer base in sample preparation and for other applications of PCT.                                                                                                                               |

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| ITEM 1. | BUSINESS. |
|---------|-----------|

| ·   | severely limit or cease our operations or otherwise reduce planned expenditures and forego other business opportunities, which could harm our business.  The accompanying financial statements do not include adjustments that may be required in the event of the disposal of assets or the discontinuation of the business; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain financing with terms that may have the effect of diluting or adversely affecting the holdings or the rights of the holders of our capital stock; or |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain funds through arrangements with future collaboration partners or others that may require us to relinquish rights to some or all of our technologies or products. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Sale of Series B Convertible Preferred Stock in a Private Placement – On March 18, 2010, we received $500,000 from the sale of 26,672 units, consisting of shares of Series B Convertible Preferred Stock and warrants, in a private placement to 20 accredited investors. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Therapeutic Discovery Grant Program – We received $244,479 related to a federal tax credit enacted in 2010 for qualifying research expenditures deducted in 2009. The program is designed for companies with 250 employees or less.  Its goal is to support investment in qualified biomedical projects that show potential to develop new therapies, address unmet medical needs, and reduce the long-term growth of healthcare costs. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Patents granted –  During 2010, we were issued five additional patents related to our PCT platform.  Of the five patents, one was granted in the U.S., one in Japan, one in Canada, and two in Australia.  With these grants, the Company now has 24 issued PCT patents: 14 in the U.S., three in Europe, three in Australia, two in Canada, and two in Japan. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Collaboration with the Lawrence Berkeley National Laboratory(“LBNL”) – Scientists at LBNL are using the Company's PCT platform in studies aimed at improving the analysis of microorganisms in environments with low biomass, such as oil reservoirs or deep sea oil plumes from oil spills. It is possible that improved microbe analysis may lead to better strategies for oil spill clean-up. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Cooperative Research and Development Agreement ("CRADA") with the Armed Forces Institute of Pathology ("AFIP") – The purpose of the CRADA is to develop pressure-based methods to improve the quality and speed of formalin fixed, paraffin embedded (“FFPE”) tissue preparations, and to improve the quality and yield of biomolecule extraction (DNA, RNA, Proteins, Lipids, Small Molecules) from archival FFPE tissue samples. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Product Licensing, Manufacturing, Co-Marketing, and Collaborative R&D Agreement – We entered into a strategic product licensing, manufacturing, co-marketing, and collaborative research and development agreement with Target Discovery Inc. (“TDI”).  We have been licensed by TDI to manufacture and sell a highly innovative line of chemicals used in the preparation of tissues for scientific analysis (the "TDI reagents"). The TDI reagents were designed for use in combination with PCT. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Launch of New Products – In December 2010 we announced the launch of the following products: |
|--------------------|----------------------------------------------------------------------------------------------------|

| o   | The Shredder SG3 – This product was developed in conjunction with the mitochondrial kits, to allow for a safe, rapid, efficient, and standardized method to isolate mitochondria from human and animal cells. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Mitochondrial kits – We introduced two new products, mitochondrial kits, that are focused on the isolation of mitochondria from solid tissues – skeletal muscle and lung. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|            | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
|-----------------|------|------|------|------|------|------|
| Installed units | 5    | 8    | 20   | 41   | 54   | 50   |

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| - | sample preparation for genomic, proteomic, and small molecule studies; |
|---|------------------------------------------------------------------------|
| - | pathogen inactivation;                                                 |
| - | protein purification;                                                  |
| - | control of chemical (particularly enzymatic) reactions; and            |
| - | immunodiagnostics.                                                     |

| -   | is a rapidly growing market; |
|---------------|------------------------------|

| -   | has a large and immediate need for better technology; |
|---------------|-------------------------------------------------------|

| -   | is comprised mostly of research laboratories, which are subject to minimal governmental regulation; |
|---------------|-----------------------------------------------------------------------------------------------------|

| -   | is the least technically challenging application for the development of our products; |
|---------------|---------------------------------------------------------------------------------------|

| -   | is compatible with our technical core competency; and |
|---------------|-------------------------------------------------------|

| -   | is the area in which we currently have strong patent protection. |
|---------------|------------------------------------------------------------------|

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| -   | the development of a new application for PCT in sample preparation; |
|---------------|---------------------------------------------------------------------|

| -   | the advancement and validation of our understanding of PCT within an area of life sciences in which we already have products; |
|---------------|-------------------------------------------------------------------------------------------------------------------------------|

| -   | the demonstration of the effectiveness of PCT to specific research scientists who we believe can have a positive impact on market acceptance of PCT; and |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | the expectation of peer-reviewed publications and/or presentations at scientific meetings by a third party on the merits of PCT. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------|

| Title                                                                                                                                              | Authors                                                           | Category | Affiliation                                                                                                                       | Reference                                                     |
|----------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|----------|-----------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------|
| High-pressure EPR reveals conformational equilibria and volumetric properties of spin-labeled proteins                                             | John McCoyWayne L. Hubbell                                        | Paper    | University of California, Los Angeles                                                                                             | PNAS Early Edition Dec 6, 2010                                |
| Application of Pressure Cycling Technology (PCT) in Differential Extraction                                                                        | Deepthi NoriBruce McCord                                          | Poster   | Florida International University                                                                                                  | 21st International Symposium on Human Identification          |
| A Proteomics Jurassic Park:The isolation of proteins from microorganisms encapsulated in amber from the Oligo-Mioceneepoch 30-40 million years ago | Gary B. Smejkal. George O. Poinar JrFeixia ChuPierGiorgioRighetti | Poster   | Harvard Clinical and Translational Science Center, Laboratory for InnovativeTranslational TechnologiesUniversity of New Hampshire | Human Proteome Organization(HUPO) Sep 2010 9th World Congress |
| A Comparative Study of In-Gel Digestions Using Microwave and Pressure-Accelerated Technologies                                                     | Rudy AlvaradoDiana TranBonnie ChingBrett S. Phinney               | Paper    | UC Davis Proteomics Core Facility, University of California Davis Genome Center                                                   | Journal of Biomolecular TechniquesSep 21, 2010                |

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|               |                         | Incumbent Technologies |                        |
|--------------------|------------------------------|------------------------|-----------------------------|
| Key Attributes     | Mortar & Pestle Grinding | Sonication             | Rotor-stator Homogenization | French Press | Bead Beating | PCT |
| Safety             | Closed System                | -                      | -                           | - | - | + | + |
| Storage, Transport | -                            | -                      | -                           | - | + | + |
| Versatility        | -                            | -                      | -                           | - | - | + |
| Reproducibility    | -                            | -                      | -                           | - | - | + |
| Efficiency         | -                            | -                      | -                           | - | -/+ | + |
| Shearing Molecules | Min                          | Yes                    | Yes                         | Yes | Yes | Min |

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| ·   | Barocycler HUB440 - A manual or computer controlled, compact, portable, and versatile high pressure generator for multiple bioscience applications.  Estimated release: Q3 2011. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Barocycler FFPE Protein Extraction Service - A service offering the enhanced extraction of proteins from formalin-fixed, paraffin-embedded (FFPE) samples using a modified Barocycler instrument that combines the advantages of pressure cycling, high temperature, and certain reagents.  Estimated release: 2012. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | XstreamPCT™ HPLC Digestion Module - For automated, in-line, on-demand PCT-enhanced protein digestion; the first module in PBI's PCT-based HPLC platform.  Estimated release: 2013. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Barocycler HT Multiwell (48-384) - For high throughput, PCT-enhanced biomolecule extraction/accelerated enzymatic digestion; process 48 - 384 samples.  Estimated release: 2013. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

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| Name                      |   | Age |   | Position                                                                                       |
|---------------------------|--------|-----|--------|------------------------------------------------------------------------------------------------|
| Richard T. Schumacher     |   | 60  |   | President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and Director |
| Edmund Ting, Ph.D.        |   | 57  |   | Senior Vice President of Engineering                                                           |
| Nathan P. Lawrence, Ph.D. |   | 56  |   | Vice President of Marketing                                                                    |
| Alexander Lazarev, Ph.D.  |   | 46  |   | Vice President of Research and Development                                                     |
| Matthew B. Potter         |   | 47  |   | Vice President of Sales                                                                        |

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----

| ITEM 1A. | RISK FACTORS. |
|----------|---------------|

| ·   | the problems, delays, expenses, and complications frequently encountered by early-stage companies; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | market acceptance of our pressure cycling technology products and services for sample preparation; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | the success of our sales and marketing programs; and |
|--------------------|------------------------------------------------------|

| ·   | changes in economic, regulatory or competitive conditions in the markets we intend to serve. |
|--------------------|----------------------------------------------------------------------------------------------|

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| ·   | severely limit or cease our operations or otherwise reduce planned expenditures and forego other business opportunities, which could harm our business.  The accompanying financial statements do not include adjustments that may be required in the event of the disposal of assets or the discontinuation of the business; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain financing with terms that may have the effect of substantially diluting or adversely affecting the holdings or the rights of the holders of our capital stock; or |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain funds through arrangements with future collaboration partners or others that may require us to relinquish rights to some or all of our technologies or products. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | unanticipated problems and costs relating to the development, testing, production, marketing, and sale of our products; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------|

| ·   | delays and costs associated with our ability to attract and retain key personnel; |
|--------------------|-----------------------------------------------------------------------------------|

| ·   | availability of adequate financing; and |
|--------------------|-----------------------------------------|

| ·   | competition. |
|--------------------|--------------|

----

----

| ·   | identify appropriate candidates for alliances, joint ventures or other business relationships; |
|--------------------|------------------------------------------------------------------------------------------------|

| ·   | assure that any candidate for an alliance, joint venture or business relationship will provide us with the support anticipated; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------|

| ·   | successfully negotiate an alliance, joint venture or business relationship on terms that are advantageous to us; or |
|--------------------|---------------------------------------------------------------------------------------------------------------------|

| ·   | successfully manage any alliance or joint venture. |
|--------------------|----------------------------------------------------|

| ·   | multiple, conflicting and changing governmental laws and regulations, including those that regulate high pressure equipment; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------|

| ·   | reduced protection for intellectual property rights in some countries; |
|--------------------|------------------------------------------------------------------------|

| ·   | protectionist laws and business practices that favor local companies; |
|--------------------|-----------------------------------------------------------------------|

| ·   | political and economic changes and disruptions; |
|--------------------|-------------------------------------------------|

| ·   | export/import controls; |
|--------------------|-------------------------|

| ·   | tariff regulations; and |
|--------------------|-------------------------|

| ·   | currency fluctuations. |
|--------------------|------------------------|

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| ·   | our ability to increase our sales of our pressure cycling technology products for sample preparation on a consistent quarterly or annual basis; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the lengthy sales cycle for our products; |
|--------------------|-------------------------------------------|

| ·   | the product mix of the Barocycler instruments we install in a given period, and whether the installations are completed pursuant to sales, rental or lease arrangements, and the average selling prices that we are able to command for our products; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | our ability to manage our costs and expenses; |
|--------------------|-----------------------------------------------|

| ·   | our ability to continue our research and development activities without unexpected costs and expenses; and |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | our ability to comply with state and federal regulations without incurring unexpected costs and expenses. |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| ·   | any patent applications filed by us will result in issued patents; |
|--------------------|--------------------------------------------------------------------|

| ·   | patent protection will be secured for any particular technology; |
|--------------------|------------------------------------------------------------------|

| ·   | any patents that have been or may be issued to us will be valid or enforceable; |
|--------------------|---------------------------------------------------------------------------------|

| ·   | any patents will provide meaningful protection to us; |
|--------------------|-------------------------------------------------------|

| ·   | others will not be able to design around our patents; or |
|--------------------|----------------------------------------------------------|

| ·   | our patents will provide a competitive advantage or have commercial value. |
|--------------------|----------------------------------------------------------------------------|

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| ·   | a classified board of directors; |
|--------------------|----------------------------------|

| ·   | advance notice for stockholder nominations to the board of directors; |
|--------------------|-----------------------------------------------------------------------|

| ·   | limitations on the ability of stockholders to remove directors; and |
|--------------------|---------------------------------------------------------------------|

| ·   | a provision that allows a majority of the directors to fill vacancies on the board of directors. |
|--------------------|--------------------------------------------------------------------------------------------------|

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| ITEM 1B. | UNRESOLVED STAFF COMMENTS. |
|----------|----------------------------|

| ITEM 2. | PROPERTIES. |
|---------|-------------|

| ITEM 3. | LEGAL PROCEEDINGS. |
|---------|--------------------|

| ITEM 4. | (REMOVED AND RESERVED). |
|---------|-------------------------|

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| ITEM 5. | MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES. |
|---------|----------------------------------------------------------------------------------------------------------------------|

|                                |   | Common Stock Price |   |
|-------------------------------------|--------|--------------------|--------|
| Fiscal Year Ended December 31, 2009 |   | High               |   |   | Low |   |
| First Quarter                       |   | $                  | 1.23   |   |   | $ | 0.55 |   |
| Second Quarter                      |   |               | 2.10   |   |   |   | 0.80 |   |
| Third Quarter                       |   |               | 1.85   |   |   |   | 1.31 |   |
| Fourth Quarter                      |   |               | 1.80   |   |   |   | 1.32 |   |
|                                |   |               |   |   |   |   |   |   |
|                                |   |               |   |   |   |   |   |   |
| Fiscal Year Ended December 31, 2010 |   | High               |   |   | Low |   |
| First Quarter                       |   | $                  | 1.97   |   |   | $ | 1.36 |   |
| Second Quarter                      |   |               | 1.84   |   |   |   | 1.02 |   |
| Third Quarter                       |   |               | 1.77   |   |   |   | 1.09 |   |
| Fourth Quarter                      |   |               | 2.29   |   |   |   | 1.24 |   |

----

| (Common shares issued) |   | (Common shares to be issued) |   |
|------------------------|--------|------------------------------|--------|
|                   |   | For The Year Ended           |   |   |   | For The Year Ended |   |
|                   |   | 12/31/2009                   |   |   | 12/31/2010 |   |   |   | 12/31/2009 |   |   | 12/31/2010 |   |
| Series A               |   |                         | 29,473 |   |   |   | 162,581 |   | Series A |   |   | 39,098 |   |   |   | 66,102 |   |
| Series B               |   |                         | -      |   |   |   | 27,486 |   | Series B |   |   | 5,027 |   |   |   | 30,855 |   |
|                   |   |                         | 29,473 |   |   |   | 190,067 |   |   |   |   | 44,125 |   |   |   | 96,957 |   |
|                   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Value of Dividends)   |   |                         |   |   |   | (Value of Dividends Payable) |   |
|                   |   | For The Year Ended           |   |   |   | For The Year Ended |   |
|                   |   | 12/31/2009                   |   |   | 12/31/2010 |   |   |   | 12/31/2009 |   |   | 12/31/2010 |   |
| Series A               |   | $                            | 33,893 |   |   | $ | 186,954 |   | Series A |   | $ | 44,963 |   |   | $ | 75,983 |   |
| Series B               |   | $                            | -      |   |   | $ | 35,975 |   | Series B |   | $ | 7,355 |   |   | $ | 42,037 |   |
|                   |   | $                            | 33,893 |   |   | $ | 222,929 |   |   |   | $ | 52,318 |   |   | $ | 118,020 |   |

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| ITEM 6. | SELECTED FINANCIAL DATA. |
|---------|--------------------------|

| ITEM 7. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION. |
|---------|--------------------------------------------------------------------------------------------------|

| ·   | severely limit or cease our operations or otherwise reduce planned expenditures and forego other business opportunities, which could harm our business.  The accompanying financial statements do not include adjustments that may be required in the event of the disposal of assets or the discontinuation of the business; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain financing with terms that may have the effect of diluting or adversely affecting the holdings or the rights of the holders of our capital stock; or |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain funds through arrangements with future collaboration partners or others that may require us to relinquish rights to some or all of our technologies or products.. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | sample preparation for genomic, proteomic, and small molecule studies; |
|---------------|------------------------------------------------------------------------|

| -   | pathogen inactivation; |
|---------------|------------------------|

| -   | protein purification; |
|---------------|-----------------------|

| -   | control of chemical (enzymatic) reactions; and |
|---------------|------------------------------------------------|

| -   | immunodiagnostics. |
|---------------|--------------------|

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|                | 2010 | 2009 |
|---------------------|------|------|
| Domestic            | 42   | 47   |
| International       | 8    | 7    |
| Total Installations | 50   | 54   |

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| Year ending December 31:              |   |   |    |
|---------------------------------------|--------|--------|---------|
| 2011                                  |   | $      | 111,776 |   |
| 2012                                  |   | $      | 60,000  |   |
| Thereafter                            |   |   | -       |   |
|  Total minimum payments required |   | $      | 171,776 |   |

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| ITEM 7A. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. |
|----------|-------------------------------------------------------------|

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|   | Report of Independent Registered Public Accounting Firm |
|--------|---------------------------------------------------------|

----

----

| ITEM 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.  |
|---------|----------------------------------------------------|

|                                                                                                                                                                                                                    |   | December 31, |        |   | December 31, |         |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|--------------|--------------|
| ASSETS                                                                                                                                                                                                                  |   | 2010         |        |   | 2009         |         |
| CURRENT ASSETS                                                                                                                                                                                                          |   |         |        |   |         |         |
| Cash and cash equivalents                                                                                                                                                                                               |   | $            | 552,849     |   |         | $            | 1,609,778 |   |
| Restricted cash                                                                                                                                                                                                         |   |         | 20,014      |   |         |         | 20,012 |   |
| Accounts receivable, net of allowances of $0 at December 31, 2010 and $8,400 at December 31, 2009                                                                                                                       |   |         | 233,846     |   |         |         | 203,211 |   |
| Inventories                                                                                                                                                                                                             |   |         | 1,104,056   |   |         |         | 638,350 |   |
| Deposits                                                                                                                                                                                                                |   |         | 6,472       |   |         |         | 182,010 |   |
| Prepaid income taxes                                                                                                                                                                                                    |   |         | 1,442       |   |         |         | 3,176 |   |
| Prepaid expenses and other current assets                                                                                                                                                                               |   |         | 296,756     |   |         |         | 86,563 |   |
| Total current assets                                                                                                                                                                                                    |   |         | 2,191,725   |   |         |         | 2,743,100 |   |
| PROPERTY AND EQUIPMENT, NET                                                                                                                                                                                             |   |         | 192,777     |   |         |         | 249,465 |   |
|                                                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| OTHER ASSETS                                                                                                                                                                                                            |   |         |        |   |         |         |   |   |
| Intangible assets, net                                                                                                                                                                                                  |   |         | 182,394     |   |         |         | 231,026 |   |
| TOTAL ASSETS                                                                                                                                                                                                            |   | $            | 2,590,606   |   |         | $            | 3,223,591 |   |
|                                                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| CURRENT LIABILITIES                                                                                                                                                                                                     |   |         |        |   |         |         |   |   |
| Accounts payable                                                                                                                                                                                                        |   | $            | 234,568     |   |         | $            | 148,087 |   |
| Accrued employee compensation                                                                                                                                                                                           |   |         | 172,251     |   |         |         | 105,824 |   |
| Accrued professional fees and other                                                                                                                                                                                     |   |         | 337,698     |   |         |         | 271,926 |   |
| Deferred revenue                                                                                                                                                                                                        |   |         | 27,153      |   |         |         | 8,058 |   |
| Total current liabilities                                                                                                                                                                                               |   |         | 771,669     |   |         |         | 533,895 |   |
|                                                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| LONG TERM LIABILITIES                                                                                                                                                                                                   |   |         |        |   |         |         |   |   |
| Deferred revenue                                                                                                                                                                                                        |   |         | 9,427       |   |         |         | 1,609 |   |
| TOTAL LIABILITIES                                                                                                                                                                                                       |   |         | 781,097     |   |         |         | 535,504 |   |
|                                                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| COMMITMENTS AND CONTINGENCIES (Note 7)                                                                                                                                                                                  |   |         |        |   |         |         |   |   |
|                                                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| STOCKHOLDERS' EQUITY                                                                                                                                                                                                    |   |         |        |   |         |         |   |   |
| Series A convertible preferred stock, $.01 par value; 1,000,000 shares authorized; 262,135 shares issued and outstanding on December 31, 2010 and 152,213 shares on December 31, 2009 (Liquidation value of $3,014,553) |   |         |        |   |         |         |   |   |
|                                                                                                                                                                                                                    |   |  2,621  |        |   |         |  1,523  |   |   |
| Series B convertible preferred stock, $.01 par value; 1,000,000 shares authorized; 88,711 shares issued and outstanding on December 31, 2010 and 62,039 shares on December 31, 2009 (Liquidation value of $1,667,767)   |   |         |        |   |         |         |   |   |
|                                                                                                                                                                                                                    |   |  887    |        |   |         |  620    |   |   |
| Common stock, $.01 par value; 20,000,000 shares authorized; 2,711,750 shares issued and outstanding on December 31, 2010 and 2,328,426 shares issued and outstanding on December 31, 2009                               |   |         |        |   |         |         |   |   |
|                                                                                                                                                                                                                    |   |  27,118 |        |   |         |  23,284 |   |   |
| Warrants to acquire preferred stock and common stock                                                                                                                                                                    |   |         | 1,248,909   |   |         |         | 1,352,165 |   |
| Additional paid-in capital                                                                                                                                                                                              |   |         | 12,095,237  |   |         |         | 9,297,115 |   |
| Accumulated deficit                                                                                                                                                                                                     |   |         | (11,565,263 | )      |         |         | (7,986,620 | ) |
| Total stockholders' equity                                                                                                                                                                                              |   |         | 1,809,509   |   |         |         | 2,688,087 |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                              |   | $            | 2,590,606   |   |         | $            | 3,223,591 |   |

----

|                                                                                                          |   | For the Year Ended |       |
|---------------------------------------------------------------------------------------------------------------|--------|--------------------|------------|
|                                                                                                          |   | December 31,       |       |
|                                                                                                          |   | 2010               |       |   | 2009 |   |
|                                                                                                          |   |               |       |   |   |   |
| REVENUE:                                                                                                      |   |               |       |   |   |   |
| PCT Products, services, other                                                                                 |   | $                  | 877,567    |   |   | $ | 831,602 |   |
| Grant revenue                                                                                                 |   |               | 462,465    |   |   |   | 413,308 |   |
| Total revenue                                                                                                 |   |               | 1,340,032  |   |   |   | 1,244,910 |   |
|                                                                                                          |   |               |       |   |   |   |   |   |
| COSTS AND EXPENSES:                                                                                           |   |               |       |   |   |   |   |   |
| Cost of PCT products and services                                                                             |   |               | 376,514    |   |   |   | 402,340 |   |
| Research and development                                                                                      |   |               | 1,232,566  |   |   |   | 1,175,136 |   |
| Selling and marketing                                                                                         |   |               | 1,204,892  |   |   |   | 1,054,869 |   |
| General and administrative                                                                                    |   |               | 1,924,814  |   |   |   | 1,809,133 |   |
| Total operating costs and expenses                                                                            |   |               | 4,738,786  |   |   |   | 4,441,478 |   |
|                                                                                                          |   |               |       |   |   |   |   |   |
| Operating loss                                                                                                |   |               | (3,398,754 | ) |   |   | (3,196,568 | ) |
|                                                                                                          |   |               |       |   |   |   |   |   |
| Interest income                                                                                               |   |               | 2,303      |   |   |   | 4,990 |   |
| Therapeutic discovery credit                                                                                  |   |               | 244,479    |   |   |   | - |   |
|                                                                                                          |   |               |       |   |   |   |   |   |
| Loss before income taxes                                                                                      |   |               | (3,151,972 | ) |   |   | (3,191,578 | ) |
| Income tax refund                                                                                             |   |               | 23,710     |   |   |   | 623,262 |   |
| Net loss                                                                                                      |   |               | (3,128,262 | ) |   |   | (2,568,316 | ) |
| Accrued and deemed dividends on convertible preferred stock                                                   |   |               | (502,564   | ) |   |   | (716,463 | ) |
| Net loss applicable to common shareholders                                                                    |   | $                  | (3,630,826 | ) |   | $ | (3,284,779 | ) |
|                                                                                                          |   |               |       |   |   |   |   |   |
|                                                                                                          |   |               |       |   |   |   |   |   |
| Net loss per share attributable to common stockholders - basic and diluted                                    |   | $                  | (1.35      | ) |   | $ | (1.42 | ) |
|                                                                                                          |   |               |       |   |   |   |   |   |
| Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation |   |               | 2,687,141  |   |   |   | 2,314,316 |   |

----

|                                                |   | Series APreferred Stock |    |   | Series BPreferred Stock |   |   | Common Stock |   |   | Stock  |   |   | Additional Paid-In |   |    | Retained Earnings/(Accumulated |   |      | Total Stockholders' |   |
|-----------------------------------------------------|--------|-------------------------|---------|--------|-------------------------|--------|--------|--------------|--------|--------|--------|--------|--------|--------------------|--------|---------|--------------------------------|--------|-----------|---------------------|--------|
|                                                |   | Shares                  |    |   | Amount                  |   |   | Shares       |   |   | Amount |   |   | Shares             |   |    | Amount                         |   |      | Warrants            |   |   | Capital |   |   | Deficit) |   |   | Equity |   |
| BALANCE, December 31, 2008                          |   |                    | -       |   |                    | $      | -      |         |   |   | -      |   |   | $                  | -      |    |                           |   | 2,195,283 |                |   | $ | 21,953 |   |   | $ | - |   |   | $ | 6,803,530 |   |   | $ | (4,701,841 | ) |   | $ | 2,123,642 |   |
| Stock-based compensation                            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | 429,004 |   |   |   |   |   |   |   | 429,004 |   |
| Issuance of convertible preferred stock             |   |                    | 156,980 |   |                    |   | 1,570  |         |   |   | 62,039 |   |   |               | 620    |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | 1,667,535 |   |   |   |   |   |   |   | 1,669,725 |   |
| Issuance of common stock                            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   | 16,000    |                |   |   | 160 |   |   |   |   |   |   |   | 26,400 |   |   |   |   |   |   |   | 26,560 |   |
| Offering costs                                      |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | (354,177 | ) |   |   |   |   |   |   | (354,177 | ) |
| Issuance of warrants                                |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   | 1,363,967 |   |   |   |   |   |   |   |   |   |   |   | 1,363,967 |   |
| Stock warrant exercise                              |   |                    | 4,000   |   |                    |   | 40     |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   | (11,802 | ) |   |   | 61,762 |   |   |   |   |   |   |   | 50,000 |   |
| Beneficial conversion of preferred stock            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | 630,252 |   |   |   | (630,252 | ) |   |   | - |   |
| Conversion of preferred stock to common stock       |   |                    | (8,767  | )      |                    |   | (87    | )            |   |   |   |   |   |               |   |    |                           |   | 87,670    |                |   |   | 877 |   |   |   |   |   |   |   | (790 | ) |   |   |   |   |   |   | - |   |
| Common stock paid-in-kind dividends earned          |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (52,318 | ) |   |   | (52,318 | ) |
| Issuance of common stock for dividends paid-in-kind |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   | 29,473  |                           |   |      | 294                 |   |   |   |   |   |   |   | 33,599 |   |   |   | (33,893 | ) |   |   | - |   |
| Net loss                                            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (2,568,316 | ) |   |   | (2,568,316 | ) |
| BALANCE, December 31, 2009                          |   |                    | 152,213 |   |                    | $      | 1,523  |         |   |   | 62,039 |   |   | $                  | 620    |    |                           |   | 2,328,426 |                |   | $ | 23,284 |   |   | $ | 1,352,165 |   |   | $ | 9,297,115 |   |   | $ | (7,986,620 | ) |   | $ | 2,688,087 |   |
| Stock-based compensation                            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | 273,182 |   |   |   |   |   |   |   | 273,182 |   |
| Stock option exercises                              |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   | 18,897    |                |   |   | 189 |   |   |   |   |   |   |   | 20,031 |   |   |   |   |   |   |   | 20,220 |   |
| Issuance of convertible preferred stock             |   |                    |    |   |                    |   |   |         |   |   | 26,672 |   |   |               | 267    |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | 328,107 |   |   |   |   |   |   |   | 328,374 |   |
| Issuance of common stock for services               |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   | 17,000    |                |   |   | 170 |   |   |   |   |   |   |   | 25,800 |   |   |   |   |   |   |   | 25,970 |   |
| Offering costs for issuance of preferred stock      |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   | (53,689 | ) |   |   |   |   |   |   | (53,689 | ) |
| Issuance of warrants                                |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   | 307,416 |   |   |   |   |   |   |   |   |   |   |   | 307,416 |   |
| Stock warrant exercise                              |   |                    | 125,658 |   |                    |   | 1,255  |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   | (410,671 | ) |   |   | 1,830,691 |   |   |   |   |   |   |   | 1,421,275 |   |
| Beneficial conversion of preferred stock            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   | 154,389 |   |   |   | (154,389 | ) |   |   | - |   |
| Conversion of preferred stock to common stock       |   |                    | (15,736 | )      |                    |   | (157   | )            |   |   |   |   |   |               |   |    |                           |   | 157,360   |                |   |   | 1,573 |   |   |   |   |   |   |   | (1,416 | ) |   |   |   |   |   |   | - |   |
| Common stock paid-in-kind dividends earned          |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (118,020 | ) |   |   | (118,020 | ) |
| Series B dividend paid in cash                      |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (7,212 | ) |   |   | (7,212 | ) |
| Issuance of common stock for dividends paid-in-kind |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   | 190,067 |                           |   |      | 1,902               |   |   |   |   |   |   |   | 221,027 |   |   |   | (170,760 | ) |   |   | 52,169 |   |
| Net loss                                            |   |                    |    |   |                    |   |   |         |   |   |   |   |   |               |   |    |                           |   |      |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (3,128,262 | ) |   |   | (3,128,262 | ) |
| BALANCE, December 31, 2010                          |   |                    | 262,135 |   |                    | $      | 2,621  |         |   |   | 88,711 |   |   | $                  | 887    |    |                           |   | 2,711,750 |                |   | $ | 27,118 |   |   | $ | 1,248,909 |   |   | $ | 12,095,237 |   |   | $ | (11,565,263 | ) |   | $ | 1,809,509 |   |

----

|                                                                                      |   | For the Year Ended |       |
|-------------------------------------------------------------------------------------------|--------|--------------------|------------|
|                                                                                      |   | December 31,       |       |
|                                                                                      |   |               |       |   |   |   |
|                                                                                      |   | 2010               |       |   | 2009 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                     |   |               |       |   |   |   |
| Net loss                                                                                  |   | $                  | (3,128,262 | ) |   | $ | (2,568,316 | ) |
|                                                                                      |   |               |       |   |   |   |   |   |
| Adjustments to reconcile net loss to operating cash flows:                                |   |               |       |   |   |   |   |   |
| Depreciation and amortization                                                             |   |               | 197,431    |   |   |   | 204,341 |   |
| Stock-based compensation expense                                                          |   |               | 273,181    |   |   |   | 429,005 |   |
| Bad debt expense                                                                          |   |               | -          |   |   |   | 53,680 |   |
|                                                                                      |   |               |       |   |   |   |   |   |
| Changes in operating assets and liabilities:                                              |   |               |       |   |   |   |   |   |
| Restricted cash                                                                           |   |               | -          |   |   |   | 29,988 |   |
| Accounts receivable                                                                       |   |               | (30,635    | ) |   |   | (47,774 | ) |
| Inventories                                                                               |   |               | (465,706   | ) |   |   | (66,519 | ) |
| Deposits                                                                                  |   |               | 175,538    |   |   |   | 200,226 |   |
| Accounts payable                                                                          |   |               | 86,481     |   |   |   | (115,399 | ) |
| Accrued employee compensation                                                             |   |               | 66,427     |   |   |   | (55,550 | ) |
| Deferred revenue and other accrued expenses                                               |   |               | 67,912     |   |   |   | (24,915 | ) |
| Prepaid expenses and other current assets                                                 |   |               | (114,547   | ) |   |   | 151,972 |   |
|         Net cash used in operating activities     |   |               | (2,872,180 | ) |   |   | (1,809,261 | ) |
|                                                                                      |   |               |       |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                     |   |               |       |   |   |   |   |   |
| Additions to property and equipment                                                       |   |               | (92,111    | ) |   |   | (152,925 | ) |
|         Net cash used in investing activities     |   |               | (92,111    | ) |   |   | (152,925 | ) |
|                                                                                      |   |               |       |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                     |   |               |       |   |   |   |   |   |
| Proceeds from stock option exercises                                                      |   |               | 20,220     |   |   |   | - |   |
| Proceeds from stock warrant exercises                                                     |   |               | 1,421,275  |   |   |   | 50,000 |   |
| Net proceeds from the issuance of preferred stock                                         |   |               | 465,867    |   |   |   | 2,653,756 |   |
|         Net cash provided by financing activities |   |               | 1,907,362  |   |   |   | 2,703,756 |   |
|                                                                                      |   |               |       |   |   |   |   |   |
| Change in cash and cash equivalents                                                       |   |               | (1,056,929 | ) |   |   | 741,570 |   |
| Cash and cash equivalents, beginning of period                                            |   |               | 1,609,778  |   |   |   | 868,208 |   |
| Cash and cash equivalents, end of period                                                  |   | $                  | 552,849    |   |   | $ | 1,609,778 |   |
|                                                                                      |   |               |       |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                                                                 |   |               |       |   |   |   |   |   |
| Income tax refund received                                                                |   | $                  | 244,479    |   |   | $ | 623,262 |   |
| Issuance of common stock dividend on preferred stock                                      |   |               | 222,931    |   |   |   | - |   |
| Issuance of common stock warrants for services                                            |   |               | 116,234    |   |   |   | - |   |
| Issuance of preferred stock warrants to placement agent                                   |   |               | 18,122     |   |   |   |   |   |
| Issuance of common stock for services                                                     |   |               | 25,970     |   |   |   | - |   |
| Beneficial conversion feature on convertible preferred stock                              |   |               | 154,389    |   |   |   | 630,252 |   |

----

| ·   | severely limit or cease our operations or otherwise reduce planned expenditures and forego other business opportunities, which could harm our business.  The accompanying financial statements do not include adjustments that may be required in the event of the disposal of assets or the discontinuation of the business; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain financing with terms that may have the effect of diluting or adversely affecting the holdings or the rights of the holders of our capital stock; or |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | obtain funds through arrangements with future collaboration partners or others that may require us to relinquish rights to some or all of our technologies or products. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|           |   | December 31, |      |
|----------------|--------|--------------|-----------|
|           |   | 2010         |      |   | 2009 |   |
| Raw materials  |   | $            | 198,534   |   |   | $ | 92,453 |   |
| Finished goods |   |         | 905,522   |   |   |   | 545,897 |   |
| Total          |   | $            | 1,104,056 |   |   | $ | 638,350 |   |

----

|               |   | For the Year Ended |
|--------------------|--------|--------------------|
|               |   | December 31,       |
|               |   | 2010               |   | 2009 |
| Top Five Customers | 47%    |               | 48% |
| Federal Agencies   | 38%    |               | 37% |

|               |   | December 31, |
|--------------------|--------|--------------|
|               |   | 2010         |   | 2009 |
| Top Five Customers | 72%    |         | 62% |
| Federal Agencies   | 29%    |         | 12% |

----

|                                                             |   | For the Year Ended |       |
|------------------------------------------------------------------|--------|--------------------|------------|
|                                                             |   | December 31,       |       |
|                                                             |   | 2010               |       |   | 2009 |   |
| Numerator:                                                       |   |               |       |   |   |   |
| Net loss                                                         |   | $                  | (3,128,262 | ) |   | $ | (2,568,316 | ) |
| Accrued dividend for Series A and B Preferred Stock              |   |               | (118,020   | ) |   |   | (52,318 | ) |
| Beneficial conversion feature for Series A and B Preferred Stock |   |               | (154,389   | ) |   |   | (630,252 | ) |
| Series A Preferred dividends paid in Common Stock                |   |               | (186,968   | ) |   |   | (33,893 | ) |
| Series B Preferred dividends paid in Common Stock                |   |               | (35,975    | ) |   |   | - |   |
| Series B Preferred dividends paid in cash                        |   |               | (7,212     | ) |   |   | - |   |
| Net loss applicable to common shareholders                       |   | $                  | (3,630,826 | ) |   | $ | (3,284,779 | ) |
|                                                             |   |               |       |   |   |   |   |   |
| Denominator for basic and diluted loss per share:                |   |               |       |   |   |   |   |   |
| Weighted average common stock shares outstanding                 |   |               | 2,687,141  |   |   |   | 2,314,316 |   |
|                                                             |   |               |       |   |   |   |   |   |
| Loss per common share - basic and diluted                        |   | $                  | (1.35      | ) |   | $ | (1.42 | ) |

|                           |   | December 31,    |
|--------------------------------|--------|-----------------|
|                           |   | 2010            |   | 2009 |
| Stock options                  |   |  201,110   |   |  157,402 |
| Common stock warrants          |   |  1,740,800 |   |  1,619,800 |
| Preferred stock warrants       |   |  940,550   |   |  2,186,840 |
| Convertible preferred stock:   |   |            |   |   |
| Series A Convertible Preferred |   |  2,621,350 |   |  1,522,130 |
| Series B Convertible Preferred |   |  887,110   |   |  620,390 |
|                           |   |  6,390,920 |   |  6,106,562 |

----

|                    |                |  Outside Board Members | CEO and other Officers and Employees |
|-------------------------|---------------------|-----------------------------|--------------------------------------|
| Assumptions             | Outside Consultants |
| Expected life           | 2.0 (yrs)           | 5.0 (yrs)                   | 6.0 (yrs)                            |
| Expected volatility     | 79.60%              | 55.66% - 77.86%             | 55.66% - 92.53%                      |
| Risk-free interest rate | 1.27%               | 2.60% - 4.94%               | 2.76% - 4.94%                        |
| Forfeiture rate         | 0.00%               | 5.00%                       | 5.00%                                |
| Expected dividend yield | 0.0%                | 0.0%                        | 0.0%                                 |

----

|                                   |   | For the Year Ended, December 31, |    |
|----------------------------------------|--------|----------------------------------|---------|
|                                   |   | 2010                             |    |   | 2009 |   |
| Research and development               |   | $                                | 73,097  |   |   | $ | 137,160 |   |
| Selling and marketing                  |   |                             | 72,609  |   |   |   | 73,689 |   |
| General and administrative             |   |                             | 127,475 |   |   |   | 218,155 |   |
| Total stock-based compensation expense |   | $                                | 273,181 |   |   | $ | 429,004 |   |

----

|                                                |   | December 31, |     |
|-----------------------------------------------------|--------|--------------|----------|
|                                                |   | 2010         |     |   | 2009 |   |
| Laboratory and manufacturing equipment              |   | $            | 172,560  |   |   | $ | 151,451 |   |
| Office equipment                                    |   |         | 134,451  |   |   |   | 132,101 |   |
| Leasehold improvements                              |   |         | 8,117    |   |   |   | 8,117 |   |
| PCT collaboration, demonstration and leased systems |   |         | 513,256  |   |   |   | 486,393 |   |
| Total property and equipment                        |   |         | 828,384  |   |   |   | 778,062 |   |
| Less accumulated depreciation                       |   |         | (635,607 | ) |   |   | (528,597 | ) |
| Net book value                                      |   | $            | 192,777  |   |   | $ | 249,465 |   |

|                          |   | December 31, |     |
|-------------------------------|--------|--------------|----------|
|                          |   | 2010         |     |   | 2009 |   |
| PCT Patents                   |   | $            | 778,156  |   |   | $ | 778,156 |   |
| Less accumulated amortization |   |         | (595,762 | ) |   |   | (547,130 | ) |
|                          |   |         |     |   |   |   |   |   |
| Net book value                |   | $            | 182,394  |   |   | $ | 231,026 |   |

----

|                                                        |   | For the Year Ended |   |
|-------------------------------------------------------------|--------|--------------------|--------|
|                                                        |   | December 31,       |   |
|                                                        |   | 2010               |   |   | 2009 |   |
| Current benefit: federal                                    |   | $                  | 23,710 |   |   | $ | 623,262 |   |
| Current benefit: state                                      |   |               | -      |   |   |   | - |   |
|     Total  current benefit    |   |               | 23,710 |   |   |   | 623,262 |   |
|                                                        |   |               |   |   |   |   |   |   |
| Deferred provision: federal                                 |   |               | -      |   |   |   | - |   |
| Deferred provision: state                                   |   |               | -      |   |   |   | - |   |
|     Total  deferred provision |   |               | -      |   |   |   | - |   |
|                                                        |   |               |   |   |   |   |   |   |
| Total benefit for income taxes                              |   | $                  | 23,710 |   |   | $ | 623,262 |   |

|                                                   |   |         |       |   |   |   |
|--------------------------------------------------------|--------|--------------|------------|--------|--------|--------|
|                                                   |   | December 31, |       |
| Current deferred taxes:                                |   | 2010         |       |   | 2009   |   |
| Other accruals                                         |   | $            | 56,344     |   |   | $      | 39,121 |   |
| Less: valuation allowance                              |   |         | (56,344    | )      |   |   | (39,121 | ) |
| Total current deferred tax assets (liabilities)        |   | $            | -          |   |   | $      | - |   |
|                                                   |   |         |       |   |   |   |   |   |
| Long term deferred taxes:                              |   |         |       |   |   |   |   |   |
| Accelerated tax depreciation                           |   | $            | 29,472     |   |   | $      | (4,893 | ) |
| Non-cash, stock-based compensation, nonqualified       |   |         | 389,975    |   |   |   | 345,987 |   |
| Goodwill and intangibles                               |   |         | (73,450    | )      |   |   | (93,034 | ) |
| Operating loss carryforwards and tax credits           |   |         | 5,357,221  |   |   |   | 4,951,236 |   |
| Less: valuation allowance                              |   |         | (5,703,218 | )      |   |   | (5,199,296 | ) |
| Total long term deferred tax assets (liabilities), net |   |         | -          |   |   |   | - |   |
| Total net deferred tax liabilities                     |   | $            | -          |   |   | $      | - |   |

----

|                                                                    | For the Year Ended |
|-------------------------------------------------------------------------|--------------------|
|                                                                    | December 31,       |
|                                                                    | 2010               |   | 2009 |
| Federal tax benefit (provision) rate                                    | 34 %               |   | 34 % |
| Permanent differences                                                   | 1%                 |   | (3)% |
| State tax expense                                                       | 0 %                |   | 0 % |
| Refundable AMT and R&D tax credit                                   | (1)%               |   | 0 % |
| Net operating loss carryback                                            | 0 %                |   | 19 % |
| Valuation allowance                                                     | (35)%              |   | (31)% |
| Effective income tax benefit (provision)rate from continuing operations | (1) %              |   | 19% |

----

----

----

----

|                      |   |      |   |   |   |   |
|---------------------------|--------|-----------|--------|--------|--------|--------|
| Assumptions               |   | Preferred |   |   | Common |   |
| Expected life (in months) |   |      | 15.0   |   |   |   | 30.0 |   |
| Expected volatility       |   |      | 142.0  | %      |   |   | 109.0 | % |
| Risk-free interest rate   |   |      | 0.875  | %      |   |   | 1.375 | % |
| Exercise price            |   | $         | 1.25   |   |   | $      | 2.00 |   |
| Stock price               |   | $         | 0.90   |   |   | $      | 0.90 |   |
| Fair value per warrant    |   | $         | 0.45   |   |   | $      | 0.41 |   |

----

| Assumptions               |   | Preferred |   |   | Placement Agent |   |
|---------------------------|--------|-----------|--------|--------|-----------------|--------|
| Expected life (in months) |   |      | 21.0   |   |            |   | 33.0 |   |
| Expected volatility       |   |      | 142.0  | %      |            |   | 119.0 | % |
| Risk-free interest rate   |   |      | 1.000  | %      |            |   | 1.380 | % |
| Exercise price            |   | $         | 2.38   |   |            | $      | 2.88 |   |
| Fair value per warrant    |   | $         | 0.80   |   |            | $      | 0.80 |   |

----

|                                          |   | Stock Options |      |   | Warrants      |   |   |   |   |   |          |   |
|-----------------------------------------------|--------|---------------|-----------|--------|---------------|--------|--------|--------|--------|--------|---------------|--------|
|                                          |   |          |      |   | Weighted      |   |   |   |   |   | Weighted      |   |   |   |   |   |   |   |
|                                          |   |          |      |   | Average price |   |   |   |   |   | Average price |   |   | Total |   |   |   |   |
|                                          |   | Shares        |      |   | per share     |   |   | Shares |   |   | per share     |   |   | Shares |   |   | Exercisable |   |
| Balance outstanding, 12/31/2008               |   |          | 1,222,499 |   |          | $      | 3.30   |   |   |   | -             |   |   | $ | - |   |   |   | 1,222,499 |   |   |   | 932,334 |   |
|       Granted   |   |          | 485,000   |   |          |   | 0.82   |   |   |   | 3,846,640     |   |   | $ | 1.76 |   |   |   | 4,331,640 |   |   |   |   |   |
|       Exercised |   |          | -         |   |          |   |   |   |   |   | (40,000       | )      |   |   | 1.25 |   |   |   | (40,000 | ) |   |   |   |   |
|       Expired   |   |          | (5,000    | )      |          |   | 4.25   |   |   |   | -             |   |   |   | - |   |   |   | (5,000 | ) |   |   |   |   |
|       Forfeited |   |          | (137,999  | )      |          |   | 3.40   |   |   |   | -             |   |   |   | - |   |   |   | (137,999 | ) |   |   |   |   |
| Balance outstanding, 12/31/2009               |   |          | 1,564,500 |   |          | $      | 2.52   |   |   |   | 3,806,640     |   |   | $ | 1.77 |   |   |   | 5,371,140 |   |   |   | 4,905,152 |   |
|       Granted   |   |          | 60,000    |   |          |   | 1.43   |   |   |   | 404,510       |   |   | $ | 2.88 |   |   |   | 464,510 |   |   |   |   |   |
|       Exercised |   |          | (18,897   | )      |          |   | 1.07   |   |   |   | (1,529,800    | )      |   |   | 1.25 |   |   |   | (1,548,697 | ) |   |   |   |   |
|       Expired   |   |          | -         |   |          |   | -      |   |   |   | -             |   |   |   | - |   |   |   | - |   |   |   |   |   |
|       Forfeited |   |          | -         |   |          |   | -      |   |   |   | -             |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Balance outstanding, 12/31/2010               |   |          | 1,605,603 |   |          | $      | 2.49   |   |   |   | 2,681,350     |   |   | $ | 2.24 |   |   |   | 4,286,953 |   |   |   | 4,114,792 |   |

|                     |   |   |              |   |   |                       |   |   | Options Outstanding |   |   | Options Exercisable |      |
|--------------------------|--------|--------|-------------------|--------|--------|----------------------------|--------|--------|---------------------|--------|--------|---------------------|-----------|
|                     |   |   |              |   |   |                       |   |   |                |   |   | Weighted Average    |      |   |   |   |   | Weighted Average |   |
| Range of Exercise Prices |   |   | Number of Options |   |   | Remaining Contractual Life |   |   | Exercise Price      |   |   | Number of Options   |      |   | Remaining Contractual Life |   |   | Exercise Price |   |
| $                        | 0.77   |   |              |   | -      |                       |   | $      | 2.70                |   |   |                | 745,103   |   |   |   | 6.4 |   |   | $ | 1.27 |   |   |   | 606,776 |   |   |   | 5.9 |   |   | $ | 1.35 |   |
|                     | 2.71   |   |              |   | -      |                       |   |   | 3.08                |   |   |                | 319,500   |   |   |   | 4.2 |   |   |   | 2.93 |   |   |   | 301,333 |   |   |   | 4.0 |   |   |   | 2.94 |   |
|                     | 3.09   |   |              |   | -      |                       |   |   | 3.95                |   |   |                | 302,000   |   |   |   | 5.4 |   |   |   | 3.67 |   |   |   | 302,000 |   |   |   | 5.4 |   |   |   | 3.67 |   |
|                     | 3.96   |   |              |   | -      |                       |   |   | 5.93                |   |   |                | 239,000   |   |   |   | 6.1 |   |   |   | 4.24 |   |   |   | 223,333 |   |   |   | 6.1 |   |   |   | 4.23 |   |
| $                        | 0.77   |   |              |   | -      |                       |   | $      | 5.93                |   |   |                | 1,605,603 |   |   |   | 5.7 |   |   | $ | 2.49 |   |   |   | 1,433,442 |   |   |   | 5.4 |   |   | $ | 2.62 |   |

----

----

| ITEM 9. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. |
|---------|---------------------------------------------------------------------------------------|

| ITEM 9A. | CONTROLS AND PROCEDURES.  |
|----------|--------------------------------|

| -   | pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and disposition of our assets; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| -   | provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorization of our management and directors; and |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ITEM 9B. | OTHER INFORMATION. |
|----------|--------------------|

----

| ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE. |
|----------|---------------------------------------------------------|

----

| ITEM 11. | EXECUTIVE COMPENSATION. |
|----------|-------------------------|

| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. |
|----------|-------------------------------------------------------------------------------------------------|

| Plan Category                                          |   | Number of securities to be issued upon exercise of outstanding options |      |   | Weighted-average exercise price of outstanding options |   |   | Number of securities remaining available for future issuance under equity compensation plans |   |
|--------------------------------------------------------|--------|------------------------------------------------------------------------|-----------|--------|--------------------------------------------------------|--------|--------|----------------------------------------------------------------------------------------------|--------|
| Equity compensation plans approved by security holders |   |                                                                   | 1,605,603 |   |                                                   | $      | 2.49   |                                                                                         |   |   | 433,397 |   |

|   | Includes the following plans: 1999 Non-Qualified Stock Option Plan and 2005 Equity Incentive Plan. |
|--------|----------------------------------------------------------------------------------------------------|

| ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS; AND DIRECTOR INDEPENDENCE. |
|----------|----------------------------------------------------------------------------|

| ITEM 14. | PRINCIPAL ACCOUNTANT FEES AND SERVICES |
|----------|----------------------------------------|

----

| PART IVITEM 15. |  EXHIBITS.                                                                                                                                    |              |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------|
| Exhibit No.     |                                                                                                                                                    | Reference         |
| 3.1             | Restated Articles of Organization of the Company                                                                                                        | A-3.1**           |
| 3.2             | Articles of Amendment to Restated Articles of Organization of the Company                                                                               | B-3.1**           |
| 3.3             | Articles of Amendment to Restated Articles of Organization of the Company, as amended                                                                   | O-3.1**           |
| 3.4             | Amended and Restated Bylaws of the Company                                                                                                              | A-3.2**           |
| 3.5             | Amendment to Amended and Restated Bylaws of the Company                                                                                                 | C-3.3**           |
| 4.1             | Specimen Certificate for Shares of the Company’s Common Stock                                                                                     | D-4.1**           |
| 4.2             | Description of Capital Stock (contained in the Amended and Restated Articles of Organization, as amended, of the Company filed as Exhibits 3.1 and 3.2) | A-3.1 & 3.2** |
| 4.3             | Rights Agreement dated as of February 27, 2003 between the Company and Computershare Trust Company, Inc.                                                | E-4**             |
| 4.4             | Amendment No. 1 to Rights Agreement dated April 16, 2004 between the Company and Computershare Trust Company, Inc.                                      | F-4**             |
| 4.5             | Securities Purchase Agreement dated November 21, 2007 between the Company and the purchasers named therein                                              | G-4.9**           |
| 4.6             | Registration Rights Agreement dated November 21, 2007 between the Company and the purchasers named therein                                              | G-4.10**          |
| 4.7             | Securities Purchase Agreement dated February 12, 2009 between the Company and the purchasers named therein                                              | L-4.1**           |
| 4.8             | Form of 15 Month Preferred Stock Warrant                                                                                                                | L-4.2**           |
| 4.9             | Form of 30 Month Common Stock Warrant                                                                                                                   | L-4.4**           |
| 4.10            | Registration Rights Agreement dated February 12, 2009 between the Company and the purchasers named therein                                              | L-4.5**           |
| 4.11            | Securities Purchase Agreement dated November 18, 2009 between the company and the purchasers named therein                                              | O-4.1             |
| 4.12            | Registration Rights Agreement dated November 18, 2009 between the Company and the purchasers named therein                                              | O-4.2             |
| 4.13            | Series B Preferred Stock Warrant                                                                                                                        | O-4.3             |

----

| Exhibit No. |                                                                                                                                                                                                | Reference      |
|-------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|
| 10.2        | 1999 Non-Qualified Stock Option Plan*                                                                                                                                                               | H**            |
| 10.3        | 1999 Employee Stock Purchase Plan*                                                                                                                                                                  | H**            |
| 10.4        | 2005 Equity Incentive Plan.*                                                                                                                                                                        | I-99.1**       |
| 10.5        | Amendment No. 1 to 2005 Equity Incentive Plan*                                                                                                                                                      | M-10.1**       |
| 10.6        | Description of Compensation for Certain Directors*                                                                                                                                                  | N-10.7**       |
| 10.7        | Severance Agreement between the registrant and Richard T. Schumacher*                                                                                                                               | N-10.6**       |
| 10.8        | Form of Severance Agreement including list of officers to whom provided*                                                                                                                            | N-10.7**       |
|  10.10 | Consent Agreement, dated May 29, 2007, by and among the registrant, PBI Source Scientific, Inc., Source Scientific, LLC, BIT Analytical Instruments, Inc., Richard W. Henson and Bruce A. Sargeant. | J-10.1**       |
| 10.11       | Asset Purchase Agreement dated April 16, 2004 between the Company, BBI Biotech Research Laboratories, Inc. and SeraCare Life Sciences, Inc.                                                    | F-1**          |
| 10.12       | Technology Transfer and Patent Assignment Agreement dated October 7, 1996, between Bioseq, Inc. and BioMolecular Assays, Inc.                                                                       | N-10.11**      |
|  10.13 | Amendment to Technology Transfer and Patent Assignment Agreement dated October 8, 1998 between Bioseq, Inc. and BioMolecular Assays, Inc.                                                           | N-10.12**      |
| 10.14       | Nonexclusive License Agreement dated September 30, 1998 between Bioseq, Inc. and BioMolecular Assays, Inc.                                                                                          | N-10.13**      |
| 10.16       | Agreement for Research Services dated February 1, 2006 by and between the registrant and the University of New Hampshire                                                                            | K-10.1**       |
| 23.1        | Consent of Independent Registered Public Accounting Firm (Marcum LLP)                                                                                                                               | Filed herewith |
| 23.2        | Consent of Independent Registered Public Accounting Firm (UHY LLP)                                                                                                                                  | Filed herewith |
| 31.1        | Principal Executive Officer and Principal Financial Officer Certification Pursuant to Item 601(b)(31) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002       | Filed herewith |
| 32.1        | Principal Executive Officer and Principal Financial Officer Certification Pursuant to Item 601(b)(32) of Regulation S-K, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002       | Filed herewith |

----

| A       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Registration Statement on Form S-1 (Registration No. 333-10759) filed with the Commission on August 23, 1996.    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| B       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2004.                                   |
| C       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002.                                          |
| D       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Annual Report on Form 10-KSB for the fiscal year ended December 31, 2004.                                        |
| E       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission March 12, 2003.                                             |
| F       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission April 16, 2004.                                             |
| G       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Registration Statement on Form S-3 (Registration No. 333-148227) filed with the Commission on December 20, 2007. |
| H       | We previously filed this exhibit as an appendix to the registrant’s proxy statement filed June 14, 1999.                                                                                                               |
| I       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Registration Statement on Form S-8 (Reg. No. 333-128594) filed with the Commission on September 26, 2005.        |
| J       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission on June 1, 2007.                                            |
| K       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission on February 7, 2006.                                        |
| L       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission on February 18, 2009.                                       |
|  M | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission on September 29, 2008.                                      |
| N       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Annual Report on Form 10-K filed with the Commission on March 27, 2008.                                          |
| O       | We previously filed this exhibit with the referenced exhibit number as an exhibit to the registrant’s Current Report on Form 8-K filed with the Commission on November 19, 2009.                                       |

----

|                             |                                         |                      |
|----------------------------------|----------------------------------------------|---------------------------|
| Date:  March 31, 2011  | Pressure BioSciences, Inc.                   |
|                             |                                         |                      |
|                             | By:                                | /s/ Richard T. Schumacher |
|                             | Richard T. Schumacher                        |
|                             | President and Chief Executive Officer   |

| SIGNATURES                                                        |   | TITLES                                                                                                                         |   | DATE           |
|-------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------|--------|----------------|
|                                                              |   |                                                                                                                           |   |           |
| /s/Richard T. Schumacher  Richard T. Schumacher         |   | President, Chief Executive Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) |   | March 31, 2011 |
|                                                              |   |                                                                                                                           |   |           |
| /s/ R. Wayne Fritzsche  R. Wayne Fritzsche              |   | Director and Chairman of the Board                                                                                             |   | March 31, 2011 |
|                                                              |   |                                                                                                                           |   |           |
| /s/J. Donald Payne  J. Donald Payne                     |   | Director                                                                                                                       |   | March 31, 2011 |
|                                                              |   |                                                                                                                           |   |           |
| /s/ Calvin A. Saravis, Ph.D.  Calvin A. Saravis, Ph. D. |   | Director                                                                                                                       |   | March 31, 2011 |
|                                                              |   |                                                                                                                           |   |           |
| /s/ Alan D. Rosenson  Alan D. Rosenson                  |   | Director                                                                                                                       |   | March 31, 2011 |
|                                                              |   |                                                                                                                           |   |           |
| /s/ Alan I. Goldberg  Alan I. Goldberg                  |   | Director                                                                                                                       |   | March 31, 2011 |
|                                                              |   |                                                                                                                           |   |           |
| /s/ Gregory G. Freitag  Gregory G. Freitag              |   | Director                                                                                                                       |   | March 31, 2011 |

----