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Other Income
9 Months Ended
Jun. 30, 2017
Deferred Revenue Disclosure [Abstract]  
Other Income
Note 3 Other Income

 

Deferred Grant Income

 

On June 19, 2015, the Company was awarded grant funding in the amount of $286,455. The grant has been received in exchange for a commitment to provide research and development for preclinical validation of Sigma-1 receptor agonism as potential treatment for Parkinson’s disease.

 

The grant income has been deferred and is being amortized to other income over the related commitment period as the related research and development expenditures are incurred. During the three and nine months ended June 30, 2017, the Company recognized $69,146 and $121,116, respectively (2016: $47,767 and $113,701) of this grant on its statement of operations within grant income.

 

Research and development tax incentive

 

During the three and nine months ended June 30, 2017, the Company received other income of $Nil and $2,022,902, respectively (2016: $Nil and $571,093, respectively) in respect of a research and development incentive program offered by the Australian government.