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Related Party Transactions | 6 Months Ended
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Dec. 31, 2016
Related Party Transactions [Abstract] |
Related Party Transactions Disclosure [Text Block] | Note 4 - Related Party Transactions Related Parties Related parties with whom the Company had transactions are:
Related Parties |  | Relationship
Anil R. Diwan |  | Chairman, President, significant stockholder and Director
Eugene Seymour |  | CEO, significant stockholder, Director
TheraCour Pharma, Inc. |  | An entity owned and controlled by a significant stockholder
InnoHaven, LLC |  | An entity owned and controlled by a significant stockholder
Milton Boniuk, MD |  | Director and significant stockholder
|  | For the three months ended |  |  | For the six months ended |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Property and Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
During the reporting period, TheraCour Pharma, Inc. acquired property and equipment on behalf of the Company from third party vendors and sold such property and equipment, at cost, to the Company |  | $ | - |  |  | $ | 6,747 |  |  | $ | 17,995 |  |  | $ | 14,648 |
|  | As of |
|  | December 31, |  |  | June 30, |
|  | 2016 |  |  | 2016 |
Account Payable – Related Party |  |  |  |  |  |  |  |
Pursuant to an Exclusive License Agreement we entered into with TheraCour Pharma, Inc., (TheraCour), the Company was granted exclusive licenses in perpetuity for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. In consideration for obtaining this exclusive license, we agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of direct costs as a development fee and such development fees shall be due and payable in periodic installments as billed, (2) we will pay $2,000 or actual costs each month, whichever is higher for other general and administrative expenses incurred by TheraCour on our behalf. Accounts payable due TheraCour Pharma Inc. on the reporting date was |  | $ | 32,624 |  |  | $ | 767,454 |
|  | For the three months ended |  |  | For the six months ended |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Research and Development Costs Paid to Related Parties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Development fees and other costs charged by and paid to TheraCour pursuant to exclusive License Agreements between TheraCour and the Company for the development of the Company’s drug pipeline. No royalties are due TheraCour from the Company at December 31, 2016 and June 30, 2016 |  | $ | 978,501 |  |  | $ | 996,398 |  |  | $ | 1,840,116 |  |  | $ | 2,012,614 |
|  | As of |
|  | December 31, |  |  | June 30, |
Debentures Payable to a Director |  | 2016 |  |  | 2016 |
Series B Convertible Debentures - Milton Boniuk |  | $ | 4,000,000 |  |  | $ | 4,000,000 |
Series C Convertible Debentures - Milton Boniuk |  |  | 5,000,000 |  |  |  | 5,000,000 |
Total Debentures Payable to a Director |  | $ | 9,000,000 |  |  | $ | 9,000,000 |
|  | As of |
|  | December 31, |  |  | June 30, |
Debenture Interest Payable to a Director |  | 2016 |  |  | 2016 |
Coupon interest payable on $5,000,000 Series C Convertible Debentures and deferred. The deferred interest is paid out quarterly over the remaining term of the debenture commencing September 30, 2015: |  |  |  |  |  |  |  |
Deferred interest payable - short-term |  | $ | 166,667 |  |  | $ | 166,667 |
Deferred interest payable - long-term |  |  | 83,333 |  |  |  | 166,667 |
Total Debenture Interest Payable to a Director |  | $ | 250,000 |  |  | $ | 333,334 |
Coupon interest expense on the Series B Debentures to two holders controlled by Dr. Milton Boniuk for the three months ended December 31, 2016 and 2015 was $80,000 and $80,000, respectively, and for the six months ended December 31, 2016 and 2015 was $160,000 and $160,000, respectively. Coupon interest expense on the Series C Debentures to Dr. Milton Boniuk for the three months ended December 31, 2016 and 2015 was $125,000 and $125,000, respectively, and for the six months ended December 31, 2016 and 2015 was $250,000 and $250,000, respectively.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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