AP Pharma Inc.

AP Pharma Inc. is listed on NASDAQ (APPA). Except for statements of historical fact, the statements herein are forward- looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These include, among others, uncertainty associated with progress in research and development programs, timely development, approval, launch and acceptance of new products, establishment of new corporate alliances and other factors described below under the headings APP Technology, Products, Marketing, Government Regulation, Patents and Trade Secrets and Competition. In addition, such risks and uncertainties also include the matters discussed under Managements Discussion and Analysis of Financial Condition and Results of Operations in Item 7 below. COMPANY OVERVIEW ---- In this Annual Report on Form 10-K, the Company, A.P. Pharma, APP, we, us, and our, refer to A.P. Pharma, Inc.

APA Enterprises Inc.

APA Enterprises Inc. is listed on NASDAQ (APAT). APA Enterprises, Inc. (APA), formerly APA Optics, Inc., is a Minnesota corporation which was founded in 1979. Our corporate headquarters is located at 2950 84th Lane N.E., Blaine, MN and our corporate website is www.apaenterprises.com. The information available on our website is not part of - this Report. Since the founding of the Company, we have focused on leading edge research in gallium nitride (GaN), sophisticated optoelectronics, and optical systems, with the primary goal of developing advanced products for subsequent fabrication and marketing. Based on this research we have developed multiple products including fiber optic components for metro and access communications networks, a range of GaN based devices, and precision optical products.

FLEET CAP TR VIII .. financial services company organized under the laws of the State of Rhode Island. Unless otherwise indicated or unless the context requires otherwise..

W.R. Grace & Company .. at www.grace.com. Grace makes available, free of charge through its website, its annual reports on Form 10-K, quarterly reports on Form 10-Q, current..

Bio-Rad Laboratories Inc. ..ad) was initially engaged in the development and production of specialty chemicals used in biochemical, pharmaceutical and other life science research..

Birch Mountain Resources Ltd. ..ment of Birch Birch was formed under the provisions of the ABCA, by amalgamation of one of Birchs predecessors, also named Birch Mountain Resources Lt..

BP p.l.c. .. this Item reflects 100% of the assets and operations of the Company and its subsidiaries which were consolidated at the date or for the periods indic..

BOE Financial Services of Virginia Inc. .. approved a plan of share exchange pursuant to which the Bank became a wholly owned subsidiary of the Corporation, which became a newly formed one-ban..

BioVeris Corporation ..which we refer to in this Form 10-K as Roche, consummated a merger and certain related transactions, which we refer to in this Form 10-K as the merger..

BackWeb Technologies Ltd. .. a solution allowing users of enterprise Web applications to synchronize those Web applications to their PCs for use while disconnected from the netwo..

Cash America International Inc. .. in 1984 to engage in the business of owning and operating pawnshops. Since that time, the Company has significantly broadened the geographic scope of..

Commerce Energy Group Inc ..dependent energy provider of retail electric power and natural gas supply to residential, commercial, industrial and institutional customers in nine s..

CAE INC ..) General Following incorporation in 1947, CAE's primary business focused on the repair and overhaul of electronic and electro-mechanical equipment, a..

Culp Inc. ..pany, manufactures and markets mattress fabrics (known as mattress ticking and used for covering mattresses and box springs) and upholstery fabrics pr..

Claude Resources Inc. ..e corporation under the Canada Business Corporations Act (the CBCA) on March 26, 1980 and was converted to a public company by Articles of Amendment d..

CHARTERMAC ..y, we or us), through its subsidiaries, is one of the nations leading full-service real estate finance companies, providing capital solutions to devel..

CKX Inc. ..ecessors, will be referred to in this Form 10-KSB Annual Report by terms such as we, us, our, CKX, the registrant and the Company, unless the context ..

Casual Male Retail Group Inc. ..ubsidiaries is the largest specialty retailer of big & tall men's apparel with retail operations throughout the United States, Canada and London, Eng..

Cohu Inc. ..aws of California in 1947, as Kalbfell Lab, Inc. and commenced active operations in the same year. Its name was changed to Kay Lab in 1954. In 1957, C..

Correctional Properties Trust ..elf-managed real estate investment trust or REIT that acquires correctional and detention facilities from both private prison owners and operators and..

COMSYS IT Partners Inc. ..e requires, all references in this report to COMSYS, the Company, us, our or we are to COMSYS IT Partners, Inc., a Delaware corporation formed in July..

Cryptologic Inc. ..ation under the Business Corporations Act (Ontario) effective March 7, 1996 pursuant to an amalgamation agreement dated January 19, 1996 between Inter..

Commtouch Software Ltd. ..uch Software Ltd., and its principal executive offices are located at 1A Hazoran Street, Poleg Industrial Park, P.O.Box 8511, Netanya 42504, Israel, w..

Central Virginia Bankshares Inc. ..res, Inc. was incorporated as a Virginia corporation on March 7, 1986, solely to acquire all of the issued and outstanding shares of Central Virginia..

CyberSource Corporation ..ure electronic payment and risk management solutions to organizations that process orders for goods and services over the Internet. CyberSource's paym..

Deltic Timber Corporation ..sources company engaged primarily in the growing and harvesting of timber and the manufacture and marketing of lumber. Deltic owns approximately 436,3..

Desarrolladora Homex ..A. de C.V. is a corporation (sociedad anónima de capital variable) registered in Culiacán, Sinaloa, Mexico under the Mexican Companies Law (Ley Genera..

Digene Corporation .. gene-based diagnostic tests for the screening, monitoring and diagnosis of human diseases. Our primary focus is in women's cancers and infectious dis..

Digital Angel Corporation ..ompany, and Digital Angel Corporation mean Digital Angel Corporation and our subsidiaries, unless the context otherwise requires. Overview We were inc..

DTE Energy Company ..ichigan. Our utility operations consist primarily of Detroit Edison and MichCon. We also have numerous non-utility subsidiaries engaged in energy mark..

Eagle Hospitality Properties Trust Inc ..f-advised real estate investment trust (REIT) that has recently been formed to pursue investment opportunities in the full-service and all-suites hote..

Educate Inc. ..utoring and other supplemental education services to pre-kindergarten through twelfth grade, or pre-K-12, students. For over 25 years, we have provide..

NIC Inc. ..ps governments use the Internet to reduce costs and provide a higher level of service to businesses and citizens. We accomplish this currently through..

Elron Electronic Industries Ltd. ..ny that operates through our group companies in two reportable segments, namely: (i) the systems and projects segment, through Elron TeleSoft Ltd. and..

Encore Medical Corporation .., and our wholly owned subsidiaries is a diversified orthopedic device company with leading positions in many of the markets in which we compete. We d..

Embratel Participacoes SA ..argest telecommunications services providers, operating domestic and international long distance, data communications and local services. Embratel Hol..

CORPORATE OFFICE PPTYS TR ..d real estate investment trust (REIT) that focuses on the ownership, management, leasing, acquisition and development of suburban office properties. W..

First Bancshares Inc. ..uri corporation, was incorporated on September 30, 1993 for the purpose of becoming the holding company for First Home Savings Bank (First Home or the..

Franklin Credit Management Corp ..ily engaged in the acquisition, origination, sale, servicing and resolution of performing, sub-performing and non-performing residential mortgage loan..

First Federal Bancshares of Arkansas Inc. ..ederal Bancshares of Arkansas, Inc. is a Texas corporation organized in January 1996 by First Federal Bank of Arkansas, FA (First Federal or the Bank..

Fisher Communications Inc. ..ooking statements that involve known and unknown risks and uncertainties, such as statements of our plans, objectives, expectations, and intentions. W..

Furniture Brands International Inc. ..ection of John T. (Tom) Foy as President and Chief Operating Officer of the Company. On February 13, 2004, the Company announced the appointment of Ra..

Federal Signal Corporation ..eincorporated as a Delaware Corporation in 1969. The Company is a worldwide manufacturer and supplier of street cleaning, vacuum loader and refuse col..

Stride Rite Corporation (The) ..ration founded in 1919, is a leading designer and marketer of high quality children's footwear in the United States and is a major designer and market..

Greater Community Bancorp ..on incorporated in New Jersey in 1984. It is registered as a bank holding company with the Board of Governors of the Federal Reserve System (Federal R..

Genitope Corporation ..arch and development of novel immunotherapies for the treatment of cancer. Immunotherapies are treatments that utilize the immune system to combat dis..

Giga-tronics Incorporated ..Giga-tronics Instrument Division, ASCOR, Inc. (ASCOR), and Microsource, Inc. (Microsource). In the first quarter of fiscal 2004, Giga-tronics elected ..

Grupo Aeroportuario del Sureste S.A. de C.V. ..ASUR, is a corporation (sociedad anonima de capital variable) organized under the laws of Mexico. We were incorporated in 1998 as part of the Mexican ..

Granite City Food & Brewery Ltd. .. on-premises breweries under the name Granite City Food & Brewery®. Our activities through June 1999 were related to the development of our restaurant..

Wellsford Real Properties Inc. .. collectively) was formed as a Maryland corporation on January 8, 1997, as a corporate subsidiary of Wellsford Residential Property Trust (the Trust)...

Harleysville Savings Bank ..nnsylvania corporation headquartered in Harleysville, Pennsylvania. The Company became the bank holding company for Harleysville Savings Bank in conne..

Hudson Highland Group Inc. ..largest specialized professional staffing, retained executive search and human capital solutions providers. The Company provides professional staffing..

Harte-Hanks Inc. ..tive marketing services company that provides end-to-end customer relationship management (CRM), related marketing services solutions and shopper publ..

Holly Corporation ..ly Corporation and its consolidated subsidiaries. In accordance with the Securities and Exchange Commission's (SEC) Plain English guidelines, this Ann..

Hershey Foods Corporation ..iaries and entities in which it has a controlling financial interest are engaged in the manufacture, distribution and sale of confectionery, snack, r..

Integral Systems Inc. ..stems and equipment for command and control, integration and test, data processing, and simulation. Since its inception in 1982, the Company has provi..

Imperial Industries Inc. ..on, which, through its predecessor corporation, has been in existence since 1968. The Company's executive offices are located at 1259 Northwest 21st S..

i2 Technologies Inc. ..fied by the sections captioned Forward-Looking Statements and Factors That May Affect Future Results in Item 7. Managements Discussion and Analysis of..

Investment Technology Group Inc. .. as a Delaware corporation on July 22, 1983. Its principal subsidiaries include: (1) ITG Inc. and AlterNet Securities, Inc. (AlterNet), United States ..

Innodata Isogen Inc ..services that help organizations create, manage, use and distribute information more effectively and economically. We provide outsourced content servi..

Interpool Inc. ..et, utilization of the leasing equipment or the rental rates per day that are set forth in this Annual Report on Form 10-K include our equipment, incl..

Intertape Polymer Group Inc. ..General Intertape Polymer Group is a leader in the specialty packaging industry in North America. It develops, manufactures and sells a variety of spe..

Jameson Inns Inc. ..ale hotels in the southeastern and midwestern United States. As of December 31, 2004, we owned 90 Jameson Inns and franchised an additional 12 Jameson..

Kroger Company (The) ..d in 1902. As of January 29, 2005, the Company was one of the largest retailers in the United States based on annual sales. The Company also manufactu..

Lexington Corporate Properties Trust ..d Maryland statutory real estate investment trust that acquires, owns and manages a geographically diverse portfolio of net leased office, industrial ..

Lightbridge Inc. ..and supports products and services primarily for businesses that sell products or services online and for communications providers. Lightbridge's four..

Midway Games Inc. ..oftware. We, and our predecessors, have been in the business of creating videogames for more than 20 years and have published over 400 titles in that ..