Note 8 - Commitments

9 Months Ended

Sep. 30, 2019

8.	Commitments

Lease Agreement

We lease approximately

8,400

square feet of office and laboratory space pursuant to an operating lease which expires on

December 31, 2019

and which is under negotiation for extension beyond that date. Rent expense for the for the

three

-month and

nine

-month periods ended

September 30, 2019

was

$40,316

and

$120,949,

respectively, as compared to

$39,136

and

$117,409,

respectively, for the same periods of

2018.

Future minimum lease payments total

$40,316

for the remainder of

2019.

Other Commitments

In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of

September 30, 2019,

there are approximately

$391,000

of unrecorded outstanding purchase commitments to our vendors and subcontractors, all of which we expect will be due in

2019

and

2020.

We expect this entire amount to be reimbursable to us pursuant to existing government grants.