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Related Party Transactions (Tables) | 12 Months Ended
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Jun. 30, 2024
Related Party Transactions |
Summary of related party | ​
​ | ​ | ​
Related Parties |  | Relationship
​ | ​ | ​
Dr. Anil Diwan |  | Chairman, President, CEO, significant stockholder through his ownership of TheraCour, and Director
​ | ​ | ​
TheraCour Pharma, Inc. (“TheraCour”) |  | An entity owned and controlled by Dr. Anil Diwan
​ | ​ | ​
Karveer Meditech Private Limited (“KMPL”) |  | An entity where Dr. Anil Diwan is a passive investor and advisor without operating control
​ Property and Equipment ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended
​ |  | June 30, 2024 |  | June 30, 2023
During the reporting period, TheraCour acquired property and equipment on behalf of the Company from third party vendors and transferred such property and equipment, at cost, to the Company | ​ | $ | 114,651 | ​ | $ | 31,936
​ Accounts Payable- Related Party ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ |  | June 30, 2024 |  | June 30, 2023
Pursuant to an Exclusive License Agreement entered into 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 it was 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. On February 12, 2024, TheraCour and the Company agreed to suspend the license requirement for a two month advance until the Company raises sufficient capital, therefore no advance offset of the accounts payable due TheraCour at June 30, 2024. Accounts payable due TheraCour at June 30, 2023 was $733,434 which was offset by a two month advance (see above) of $500,000. | ​ | $ | 720,039 | ​ | $ | 233,434
​ Research and Development Costs - Related Party ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended
​ |  | June 30, |  | June 30,
​ | ​ | 2024 | ​ | 2023
Development fees and other costs charged by TheraCour pursuant to the 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 June 30, 2024 and 2023. | ​ | $ | 2,550,466 | ​ | $ | 2,535,862
Clinical Trial Costs - Related Party ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended
​ |  | June 30, |  | June 30,
​ |  | 2024 |  | 2023
Clinical trial related and other costs charged by KMPL pursuant to the license between KMPL and the Company amounted to $442,845 and $100,000 for the years ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and 2023, respectively, $227,435 and $100,000 of such costs were accrued by the Company pursuant to the license agreement between the Company and KMPL. The amounts were recorded within accrued expenses in the accompanying balance sheets. |  | $ | 442,845 |  | $ | 100,000

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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. + References No definition available. + Details
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