General form of registration statement for all companies including face-amount certificate companies

Commitments and Contingencies (Tables)

v3.22.4
Commitments and Contingencies (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]    
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Future minimum lease payments under these leases at September 30, 2022, are presented by calendar year as follows:
 
Year
      
2022
   $ 33,469  
2023
     145,836  
2024
     150,095  
2025
     114,966  
    
 
 
 
Total lease payments
     444,366  
Less: imputed interest
     70,298  
    
 
 
 
Present value of operating lease liabilities
   $ 374,068  
    
 
 
 
 
Schedule of Milestone Payment  
As consideration for its services, Sphaera has received a fixed fee of $160,000 and is entitled to the following milestone payments upon achievement of specified milestones:
 
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