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Subsequent Events
9 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events
9.Subsequent Events 

 

The Company has evaluated subsequent events through the date these financial statements were issued.

 

On October 2, 2017, Robert Kalkstein was appointed as the Chief Financial Officer of Immudyne, Inc. The Company entered into a consulting agreement with Mr. Kalkstein, which provides, among other things, for a fee of $2,750 per month through December 2017, $5,000 per month between January 2018 and March 2018 and $7,500 per month between April 2018 and September 2018. Additionally, Mr. Kalkstein was granted an option to purchase 500,000 shares of the Company’s common stock at $0.40 per share, subject to the approval of the board of directors of the Company and certain vesting requirements set forth in the consulting agreement.

 

In October 2017, the Company appointed Michael T. Bornstein, MD, PHD to the Board of Directors. As part of the compensation, the Company issued a ten year, fully vested option to purchase 100,000 shares of common stock at an exercise price of $0.35 per share. In addition, the Company issued ten year options that vest upon the Company achieving pre-tax earnings benchmarks between $4,000,000 and $7,000,000. The exercise price for the options are $0.25 and $0.35 per share.

 

In November 2017, the Company issued 135,721 shares of common stock and 67,861 warrants pursuant to a conversion of Immudyne PR equity contributions of $31,216 into equity of Immudyne, Inc. by the noncontrolling interest.