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v3.21.2

Commitments and Contingencies (Details) |  | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended |
--- | --- | --- | --- | --- | --- | ---
Nov. 06, 2020 USD ($) shares | Aug. 27, 2021 USD ($) shares | Apr. 29, 2021 USD ($) | Apr. 15, 2021 shares | Feb. 25, 2021 USD ($) | Jul. 25, 2019 USD ($) | Feb. 25, 2021 USD ($) | Sep. 30, 2021 USD ($) | Mar. 30, 2021 shares | Sep. 30, 2020 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | Sep. 03, 2021 USD ($) | Sep. 03, 2021 GBP (£)
Commitments and Contingencies (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Legal expenses |  |  |  |  |  |  |  |  |  |  | $ 250,000 |  |  |
Transactions fee |  |  |  |  |  | $ 1,500,000 |  |  |  |  |  |  |  |
Shares issued to settle transaction fee (in Shares) | shares | 150,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Lease, Expense |  |  |  |  |  |  |  |  |  | $ 16,203 |  | $ 38,452 |  |
Percentage of consultant bonus |  |  |  |  |  |  |  |  | 50.00% |  |  |  |  |
Shares issues (in Shares) (in Shares) | shares |  | 61,535 |  |  |  |  |  |  | 100,699 |  |  |  |  |
Other Commitment, to be Paid, Remainder of Fiscal Year |  | $ 15,000,000 |  |  |  |  |  |  |  |  |  |  |  |
Restricted common stock value |  |  | $ 50,000 |  |  |  |  |  |  |  |  |  |  |
Payment of first milestone |  |  |  |  |  |  |  |  |  |  |  |  | $ 97,900 | £ 70,546
Research and development expense |  |  |  |  |  |  |  | $ 48,949 |  |  | 65,266 |  |  |
Prepaid balance |  |  |  |  |  |  |  |  |  |  | $ 31,647 |  |  |
Additional consideration agreement description |  |  |  |  |  |  |  |  |  |  | As additional consideration for the CEO agreeing to enter into the agreement, the Company awarded him options to purchase 1,400,000 shares of the Company’s common stock, which have a term of 10 years, and an exercise price of $4.43 per share (the closing sales price on the date the board of directors approved the grant (February 26, 2021)). The options as subject to the Company’s 2020 Omnibus Incentive Plan and vest at the rate of (a) 1/5th of such options on the grant date; and (b) 4/5th of such options vesting ratably on a monthly basis over the following 36 months on the last day of each calendar month; provided, however, that such options vest immediately upon the CEO’s death or disability, termination without cause or a termination by the CEO for good reason (as defined in the agreement), a change in control of the Company or upon a sale of the Company. |  |  |
Accrued Bonus |  |  |  |  |  |  |  | $ 151,875 |  |  | $ 151,875 |  |  |
Termination of agreement, description |  |  |  |  |  |  |  |  |  |  | In the event the A&R Agreement is terminated without cause by the Company, or by the CEO for good reason, the Company agreed to pay him the lesser of 18 months of salary or the remaining term of the agreement, the payment of any accrued bonus from the prior year, his pro rata portion of any current year’s bonus and health insurance premiums for the same period that he is to receive severance payments (as discussed above). |  |  |
Termination employment agreement |  |  |  |  |  |  |  |  |  |  | 60 days |  |  |
Severance pay to paid upon termination of CFO without cause |  |  |  |  |  |  |  |  |  |  | 3 months |  |  |
Consulting Agreement [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments and Contingencies (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related party transaction, description |  |  |  |  |  |  |  |  |  |  | On February 22, 2021, the Company entered into a consultancy agreement (as amended, the “Consulting Agreement”) with a related party, Prof. Jagdeep Nanchahal (the “Consultant”). The Consulting Agreement was effective December 1, 2020. Pursuant to the Consulting Agreement, the Company agreed to pay the Consultant 15,000 British Pounds (GBP) per month (approximately $20,800) during the term of the agreement, increasing to 23,000 GBP per month (approximately $32,000) on the date (a) of publication of the data from the phase 2b clinical trial for Dupuytren’s disease (RIDD) and (b) the date that the Company has successfully raised over $15 million in capital. The Company also agreed to pay the Consultant the following bonus amounts: ●The sum of £100,000 (approximately $138,000) upon submission of the Dupuytren’s disease clinical trial data for publication in a peer-reviewed journal (“Bonus 1”); ●The sum of £434,673 GBP (approximately $605,000) (“Bonus 2”), which is earned and payable upon the Company raising a minimum of $15 million in additional funding, through the sale of debt or equity, after December 1, 2020 (the “Vesting Date”). Bonus 2 is payable within 30 days of the Vesting Date and shall not be accrued, due or payable prior to the Vesting Date. Bonus 2 is payable, at the election of the Consultant, at least 50% (fifty percent) in shares of the Company’s common stock, at the lower of (i) $3.00 per share, or (ii) the trading price on the date of the grant, with the remainder paid in GBP; ●The sum of £5,000 (approximately $7,000) on enrollment of the first patient to the phase 2 frozen shoulder trial (“Bonus 3”); and ●The sum of £5,000 (approximately $7,000) for enrollment of the first patient to the phase 2 delirium/POCD trial (“Bonus 4”). |  |  |
Stanford [Member] | Katexco [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments and Contingencies (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares issues (in Shares) (in Shares) | shares |  |  |  | 37,715 |  |  |  |  |  |  |  |  |  |
Percentage of consultant additional bonus |  |  |  | 19.00% |  |  |  |  |  |  |  |  |  |
KBL [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments and Contingencies (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Damages of net tangible asset in business combination | $ 5,000,001 |  |  |  |  |  |  |  |  |  |  |  |  |
Chief Executive Officer [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments and Contingencies (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employment agreement of chief executive officer term |  |  |  |  |  |  | 3 years |  |  |  |  |  |  |
CEO’s annual base salary |  |  |  |  | $ 450,000 |  | $ 450,000 |  |  |  |  |  |  |
Percentage of automatic annual salary increase |  |  |  |  | 5.00% |  | 5.00% |  |  |  |  |  |  |
Salary available to paid bonus |  |  |  |  |  |  |  |  |  |  | 45.00% |  |  |
Notice period required to terminate the employment agreement |  |  |  |  |  |  |  |  |  |  | 60 days |  |  |
CFO [Member] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments and Contingencies (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additional consideration agreement description |  |  |  |  |  |  |  |  |  |  | As additional consideration for the CFO agreeing to enter into the agreement, the Company awarded him options to purchase 180,000 shares of the Company’s common stock, which have a term of 10 years, and an exercise price of $4.43 per share (the closing sales price on the date the board of directors approved the grant (February 26, 2021)). The options are subject to the Company’s 2020 Omnibus Incentive Plan and vest at the rate of (a) 1/5th of such options upon the grant date; and (b) 4/5th of such options vesting ratably on a monthly basis over the following 36 months on the last day of each calendar month; provided, however, that such options vest immediately upon the CFO’s death or disability, termination without cause or a termination by the CFO for good reason (as defined in the agreement), a change in control of the Company or upon a sale of the Company. |  |  |
Notice period required to terminate the employment agreement |  |  |  |  |  |  |  |  |  |  | 60 days |  |  |
Annual base salary |  |  |  |  | $ 300,000 |  |  |  |  |  |  |  |  |
Target bonus Percentage |  |  |  |  |  |  |  | 30.00% |  |  | 30.00% |  |  |
Accrued bonus payable |  |  |  |  |  |  |  | $ 67,500 |  |  | $ 67,500 |  |  |

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