## Exhibit 99.1  Risk Factors

Forward-Looking Statements

From time to time,  the Company may make or publish  forward-looking  statements
relating  to  such  matters  as  anticipated  financial  performance,   business
prospects,  technological developments,  new products, and similar matters. Such
statements are necessarily estimates reflecting the Companys best judgment
based on current  information.  The Private Securities  Litigation Reform Act of
1995 provides a safe harbor for forward-looking  statements. Such statements are
usually  identified by the use of words or phases such as  believes,
anticipates,       expects,       estimates,
planned,    outlook,   and   goal.   Because
forward-looking  statements involve risks and uncertainties,  the Companys
actual results could differ materially. In order to comply with the terms of the
safe  harbor,  the  Company  notes  that a variety of  factors  could  cause the
Companys  actual  results and  experience  to differ  materially  from the
anticipated  results  or  other  expectations  expressed  in the  Companys
forward-looking statements.

While it is impossible to identify all such factors, the risks and uncertainties
that may affect the operations,  performance  and results of the  Companys
business include the following:

| | 1. | The Companys revenues are highly dependent on research and development
expenditures and compliance testing expenditures by the pharmaceutical and
biotechnology industries. Decreases in such expenditures, including those
resulting from a general economic decline in these industries, would decrease
the demand for the services and products provided by the Company and could have
a material adverse effect on the Company.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2. | The Companys new product, Culex®Automated Blood Sampler
device, is a significant new product. Non-acceptance or major difficulties with
the device could have a material adverse effect on the Companys gross
profit.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3. | The Company has benefited from the growing tendency of companies to engage
independent organizations to conduct development and testing projects. Any
reduction in the outsourcing of research, development or testing activities, or
any reduction in public funding of science and technology would decrease the
demand for the services and products provided by the Company and could have a
material adverse effect on the Companys business, operations and financial
condition.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4. | During 2002, 2001 and 2000, Pfizer accounted for approximately 19.0%, 18.9% and
21.0%, respectively, of the Companys total revenue and 15.7% and 23.6% of
total trade accounts receivable at September 30, 2002 and 2001, respectively.
During 2002, 2001 and 2000, Pharmacia accounted for approximately 9.3%, 11.7%
and 12.2%, respectively, of the Companys total revenues, and 6.3% and
10.7% of total trade accounts receivable at September 30, 2002 and 2001,
respectively. During 2002, Pfizer and Pharmacia announced their intention to
merge, but to date, this merger has not affected the Companys relationship
with these former customers who now are a single customer. There can be no
assurance that the Companys business will not continue to be dependent on
continued relationships with the combined Pfizer/Pharmacia or other clients, or
that annual results will not be dependent on the performance of a few large
projects. In addition, there can be no assurance that significant clients in any
one period will continue to be significant clients in other periods.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 5. | The Companys business is labor intensive and involves delivery of highly
specialized professional services. The Companys future growth and success
depends in large part upon its ability to attract, train, manage and retain
highly skilled professional, scientific and technical operating staff. There is
significant competition from the Companys competitors as well as from the
in-house research departments of pharmaceutical and biotechnology companies and
other enterprises for employees with the skills required to perform the services
offered by the Company. Although the Company has confidentiality agreements with
its scientific and technical operating personnel, the Company does not have in
place covenants not to compete that would directly preclude its employees from
being employed by a competitor. There can be no assurance that the Company will
be able to attract, train, manage and retain a sufficient number of highly
skilled employees in the future or that it will continue to be successful in
training, retaining and managing its current employees. The loss of a
significant number of employees or the Companys inability to hire
sufficient numbers of qualified employees could have a material adverse effect
on the Companys ability to obtain and perform contracts to provide it
services.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6. | The  Company  relies to a  significant  extent  on a number  of key  executives,
including  Peter T. Kissinger,  Ph.D.,  its President and Chairman of the Board.
The Company  maintains key man life insurance on Dr.  Kissinger in the amount of
$1.0 million.  The loss of the services of any of the  Company's key  executives
could have a material adverse effect on the Company.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 7. | The Companys business depends in part on government regulation of the drug
development process by the United States and foreign governments. More stringent
governmental regulation of the drug development process increases the need for
the types of services and products provided or produced by the Company. Recently
legislation has been proposed that would substantially modify the current
requirements for FDA administration of the drug and device approval process.
Under the proposed legislation, applications for approval of new drugs could be
made to private accredited facilities in lieu of the FDA. As a result, the
number of clinical trials of new drugs would be reduced and other rules
administered by the FDA would be simplified. Any change in the scope of
regulatory requirements or the introduction of simplified drug or device
approval procedures could decrease the demand for the Companys services
and adversely affect the Companys revenues.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 8. | The Companys revenues are dependent, in part, upon continued compliance
with governmental requirements applicable to facilities and techniques used in
the manufacture of products for clinical use and the provision of services. The
Companys facilities are subject to scheduled periodic regulatory
inspections to ensure compliance with FDA requirements. Failure on the part of
the Company to comply with applicable requirements could result in the
termination of ongoing research, the discontinuance of selected operations of
the Company, the disqualification of data for submission to regulatory
authorities and fines and penalties being assessed against the Company.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 9. | Risk of accidental contamination or injury from hazardous materials cannot be
completely eliminated. In the event of such an accident, the Company could be
held liable for any damages that result. Such damages could have a material
adverse effect on the Companys business and results of operations.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 10. | With respect to its products, the Company primarily competes with several large
equipment manufacturers and, with respect to its services, the Company primarily
competes against in-house research departments of pharmaceutical and
biotechnology companies and other full-service CROs. Many of the Companys
competitors possess substantially greater capital, technical and other resources
than the Company. The Companys failure to compete effectively in any one
or more of these areas could have a material adverse effect on the
Companys business, operations and financial condition.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 11. | Generally, the Companys service contracts are terminable by the client
upon written notice at any time. In fiscal year 2002 approximately 61% of
revenues were from contract services. Most service contracts have cancellation
charges. Those charges vary, depending on the type of service provided and the
investment in materials and the facilities and people committed. Cancellation
fees after contract signing but before study commencement can vary from $5,000
to $30,000, depending on the total contracted costs of the study and how much
notice is given before the study is scheduled to begin. In virtually all
recorded studies cancelled while in progress, the Company has recovered all
prepaid costs, normally 25% to 50% of total project costs. Additional charges
are often also applied. Contracts may be terminated for a variety of reasons,
including the clients decision to forego a particular study, failure of
products to satisfy safety requirements, and/or unexpected or undesired product
testing results. The loss of business from a significant client or the
cancellation of a major contract or series of commitments could have a material
adverse effect on the Companys revenues.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 12. | The Companys business is dependent, in part, on its ability to obtain
patents in various jurisdictions on its current and future technologies and
products, to defend its patents and protect its trade secrets and to operate
without infringing on the proprietary rights of others. There can be no
assurance that the Companys patents will not be challenged by third
parties or that, if challenged, those patents will be held valid. In addition,
there can be no assurance that any technologies or products developed by the
Company will not be challenged by third parties owning patent rights and, if
challenged, will be held not to infringe on those patent rights. The expense
involved in any patent litigation can be significant. The Company also relies on
unpatented proprietary technology, and there can be no assurance that others
will not independently develop or obtain similar products or technologies.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 13. | In certain circumstances the Company seeks to manage its liability risk through
contractual provisions with clients requiring the Company to be indemnified by
the client or covered by clients product liability insurance policies.
Although most of the Companys clients are large, well-capitalized
companies, the financial performance of these indemnities is not secured.
Therefore, the Company bears the risk that the indemnifying party may not have
the financial ability to fulfill its indemnification obligations or the
liability would exceed the amount of applicable insurance. Furthermore, the
Company could be held liable for errors and omissions in connection with the
services it performs. There can be no assurance that the Companys
insurance coverage will be adequate, or that insurance coverage will continue to
be available on terms acceptable to the Company, or that the Company can obtain
indemnification arrangements or otherwise be able to limit its liability risk.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 14. | The Companys growth strategy includes making selective strategic
acquisitions of assets or business entities engaged in similar or complementary
lines of business, including the acquisition of certain assets of LC Resources,
Inc. completed in December 2002. If the Company issues its common shares in
these acquisitions, the voting power of existing shareholders of the company
will be diluted. Moreover, depending on the level of earnings of the target
company and the number of shares of the Company issued in the transactions, the
Companys earnings per share may also be diluted. The Company and other
companies in the industry have encountered the following difficulties in
implementing strategic acquisitions: (i) identification, negotiation, completion
and integration of these acquisitions require significant commitments of capital
and management time and attention; (ii) expected benefits from the acquisition
may not be fully realized, or realized within the expected time frame, or at
all, due to lower than expected revenues following the merger; (iii) there may
be greater than expected costs or difficulties related to completing the
acquisition and, following the acquisition, to the integration of the
businesses. Failure to successfully implement or integrate one or more strategic
acquisitions may have a material adverse effect on the business and financial
condition of the Company.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 15. | The Companys business may become subject to other risk factors which may
be identified from time to time in the Companys periodic SEC filings and
other public announcements.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Should  one or more of  these  risks or  uncertainties  materialize,  or  should
underlying assumptions prove incorrect,  actual results may vary materially from
those described in the forward-looking statement. The Company does not intend to
update forward-looking statements.