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

Milton Boniuk, MD		Director and significant stockholder

	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

Coupon interest expense on the Series C Debentures to Dr. Milton Boniuk for the three months ended September 30, 2017 and 2016 was $125,000 and $125,000, respectively.

Coupon interest expense on the Series B Debentures to Dr. Milton Boniuk for the three-months ended September 30, 2016 was $80,000. The Series B debenture matured on February 1, 2017.