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Related Party Transactions (Tables)

3 Months Ended

Sep. 30, 2022

Related Party Transactions

Summary of related party

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Related Parties		Relationship
Dr. Anil R. Diwan		Chairman, President, CEO, significant stockholder and Director
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TheraCour Pharma, Inc. (“TheraCour”)		An entity owned and controlled by Dr. Anil R. Diwan

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​	​	For the three months ended
​		September 30,			September 30,
​	​	2022		​	2021
Property and Equipment		​	​	​	​	​
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During the reporting period, TheraCour acquired property and equipment on behalf of the Company from third party vendors and sold such property and equipment, at cost to the Company	​	$	25,876	​	$	19,154

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​	​	As of
​	​	September 30,		​	June 30,
​		2022			2022
Account Payable – Related Party	​	​	​	​	​	​
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Pursuant to an Exclusive License Agreement with TheraCour, the Company was granted exclusive licenses for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. On November 1, 2019, the Company entered into the VZV Licensing Agreement with TheraCour. In consideration for obtaining these exclusive licenses, the Company agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of certain direct costs as a development fee and such development fees shall be due and payable in periodic installments as billed, (2) the Company will pay $2,000 or actual costs each month, whichever is higher for other general and administrative expenses incurred by TheraCour on the Company’s behalf, (3) to make royalty payments of 15% (calculated as a percentage of net sales of the licensed drugs) to TheraCour and; (4) to pay an advance payment equal to twice the amount of the previous months invoice to be applied as a prepayment towards expenses. Accounts payable due TheraCour at September 30, 2022 and June 30, 2022 were $898,119 and $679,397, respectively, which were each offset by a two month advance of $465,000.	​	$	433,119	​	$	214,397

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​	​	For the three months ended
​	​	September 30,		​	September 30,
​		2022			2021
Research and Development Costs Related Party	​	​	​	​	​	​
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Development fees and other costs charged by TheraCour pursuant to the 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 September 30, 2022 and September 30, 2021.	​	$	612,711	​	$	550,034

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- 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.

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