Phosphagenics Limited is an Australia-based company engaged in the production, sale and licensing of products for the nutraceutical and pharmaceutical industries. The Company operates through two business segments. The Nutraceuticals segment is divided into three sub-segments: dietary supplements, such as vitamin capsules and tablets, in which the Company uses its patented technology to orally delivery supplements aimed at improving bioavailability and efficacy; functional foods and beverages, such as naturally enhanced foods; and personal care products. The Pharmaceuticals segment is focused on drug delivery, which involves enhancing the delivery of existing drugs orally or through the skin, utilizing the Company's TPM delivery technology. As of December 31, 2010, the Company had four wholly owned subsidiaries.