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Commitments and Contingencies
 9 Months Ended
Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 6 – Commitments and Contingencies

Commitments and contingencies are described below and summarized by the following table:

 

     Total      2015      2016      2017      2018      2019      Therafter  

Manufacturing

    $ 68,000       $ 68,000       $ —         $ —         $ —         $ —         $ —     

Clinical research and trial obligations

      388,000         388,000         —           —           —           —           —     

Sponsored research agreement with related party

      298,000         18,000         70,000         70,000         70,000         70,000         —     

Management fee

      1,122,000         66,000         264,000         264,000         264,000         264,000         —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
$ 1,876,000    $ 540,000    $ 334,000    $ 334,000    $ 334,000    $ 334,000    $ —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Manufacturing

Rosewind entered into an agreement with a local manufacturing company to build their RedoxSYS system, the current remaining commitment is $68,000.

Clinical Research and Trial Obligations

In connection with upcoming clinical trials, Rosewind has a remaining commitment of $189,000 on contracts related to the Zertane drug and has entered into research agreements with a remaining commitment of $199,000 related to the RedoxSYS system.

Sponsored Research Agreement with Related Party

Rosewind entered into a Sponsored Research Agreement with TRLLC, a related party, in June 2013. Under the terms of the Sponsored Research Agreement, TRLLC agreed to work collaboratively in advancing the ORP diagnostic platform through research and development efforts. The Sponsored Research Agreement may be terminated without cause by either party on 30 days’ notice (see Note 9—Related Party Transactions).

Management Fee

In January 2014 and January 2013, Rosewind entered into agreements with Ampio whereby Rosewind agreed to pay Ampio $22,000 per month for shared overhead which includes costs related to the shared facility, corporate staff, and other miscellaneous overhead expenses. These agreements will be in effect until they are terminated in writing by both parties.