Post-effective amendment to a registration statement that is not immediately effective upon filing

Commitments and Contingencies (Tables)

v3.23.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Future minimum lease payments under these leases at December 31, 2022, are presented by calendar year as follows:.
 
Year
      
2023
   $ 145,836  
2024
     150,095  
2025
     114,966  
    
 
 
 
Total lease payments
     410,897  
Less: imputed interest
     (59,609
    
 
 
 
Present value of operating lease liabilities
   $ 351,288  
    
 
 
 
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