Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Table)

v3.24.1
Commitments and Contingencies (Table)
12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

Future minimum lease payments under these leases at December 31, 2023, are presented by calendar year as follows:

Year

 

 

 

2024

 

$

150,095

 

2025

 

 

114,966

 

Total lease payments

 

 

265,061

 

Less: imputed interest

 

 

(24,842

)

Present value of operating lease liabilities

 

$

240,219

 

 

Schedule of Milestone Payment

Milestone Event

 

Payment

 

First dosing of patient in US Phase 1 trial

 

$

250,000

 

US Phase 1 trial completion with endpoints met

 

 

500,000

 

US Phase 2 trial completion with endpoints met

 

 

875,000

 

FDA Approval

 

 

4,000,000

 

Total potential milestone payments

 

$

5,625,000