License Agreement with Aposense, Ltd. (Details Narrative) - License Agreement [Member] - Aposense, Ltd. [Member] |
Oct. 06, 2020
USD ($)
shares
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Common stock, lock-up description | Such shares are subject to a lock-up, with 40% of such shares released from such lock up after six months and the remaining two 30% tranches to be released upon completion of the next two subsequent quarters. |
Number of common stock issued during period | shares | 625,000 |
Milestone payments, description | As additional consideration, we will pay Aposense development and regulatory milestone payments (up to $3.0 million per milestone) upon the achievement of certain milestones, which primarily consist of having a drug indication approved by a regulatory authority in the United States or another country. In addition, we will pay Aposense one-time sales milestone payments based on the achievement during a calendar year of one or more thresholds for annual sales for products made and pay royalties based on annual licensing sales. We are also required to split any sales milestone payments or royalties we receive with Aposense based on any sub-license agreement we may enter into. |
Maximum [Member] | |
Development and regulatory milestone payments | $ | $ 3,000,000 |
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- Definition Common stock, lock-up description. No definition available.
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- Definition Development and regulatory milestone payments. No definition available.
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- Definition Milestone payments, description. No definition available.
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- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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