XML 32 R21.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Related Party Transactions (Tables) | 3 Months Ended
--- | ---
Sep. 30, 2017
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions [Table Text Block] |
|  | For the three months ended |
|  | September 30, |  |  | September 30, |
|  | 2017 |  |  | 2016 |
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 |  | $ | — |  |  | $ | 17,995 |
|  | As of |
|  | September 30, |  |  | June 30, |
|  | 2017 |  |  | 2017 |
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 |  | $ | 818,783 |  |  | $ | 340,695 |
|  | For the three months ended |
|  | September 30, |  |  | September 30, |
|  | 2017 |  |  | 2016 |
Research and Development Costs Paid to Related Parties |  |  |  |  |  |  |  |
Development fees and other costs charged by and paid to TheraCour pursuant to an Exclusive License Agreement between TheraCour and the Company for the development of the Company’s drug pipeline. No royalties are due TheraCour from the Company at September 30, 2017 and June 30, 2017. |  | $ | 847,093 |  |  | $ | 861,616 |
|  | As of |
|  | September 30, |  |  | June 30, |
|  | 2017 |  |  | 2017 |
Debentures Payable to a Director |  |  |  |  |  |  |  |
Series C Convertible Debentures - Milton Boniuk |  | $ | 5,000,000 |  |  | $ | 5,000,000 |
|  | As of |
|  | September 30, |  |  | June 30, |
|  | 2017 |  |  | 2017 |
Debenture Interest Payable to a Director |  |  |  |  |  |  |  |
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: |  | $ | 125,000 |  |  | $ | 166,667 |

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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 No definition available. + Details
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration