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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of UMB minimum royalty payments

Payment				Year
$	-			Prior to First Commercial Sale
$	-			Year of First Commercial Sale
$	25,000			First calendar year following the First Commercial Sale
$	25,000			Second calendar year following the First Commercial Sale
$	100,000			Third calendar year following the First Commercial Sale

Schedule of milulestone payments

Payment				Milestone
$	50,000			Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product
$	100,000			Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product
$	250,000			Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product
$	500,000			Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product
$	1,000,000			Achievement of First Commercial Sale of Licensed Product

Schedule of exclusive of value added tax with payment

Payment
1		86,777 Euros ($101,520 USD)		Upon signing the Study Agreement and was paid in December 2020
2		86,777 Euros ($101,520 USD)		Obtained approval from ethical committee
3		86,777 Euros ($101,520 USD)		Data collection has commenced
4		130,166 Euros ($152,281 USD)		First half of the participants are tested
5		43,885 Euros ($50,760 USD)		Completion of data collection and delivery of final report

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- Definition

Tabular disclosure of contingent obligations arising from commitments made to the recipient of the entity's financial instruments to endeavor (a) to file a registration statement for the resale of those financial instruments (demand or "piggyback" rights granted to the recipient) or for the resale of equity shares that are issuable upon exercise or conversion of those financial instruments and (b) for the registration statement to be declared effective by the SEC within a specified grace period. This disclosure does not include information about the contingent obligation to make future payments or otherwise transfer consideration under a registration payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99383193&loc=d3e16207-108621

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=99383193&loc=d3e16242-108621

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