XML 33 R22.htm IDEA: XBRL DOCUMENT v3.24.3
Related Parties
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Parties Related Parties
Total related party revenue was $0 and $7,500 for the three and nine months ended September 30, 2024, respectively. Total related party revenue was $310,700 and $596,000 for the three and nine months ended September 30, 2023, respectively. Accounts receivable due from the related party was $0 and $90,000 at September 30, 2024 and December 31, 2023, respectively.
In September 2022, the Company entered into a convertible promissory note totaling $4,350,000 of which $4,000,000 was attributable to an entity who was also an investor in the Company’s Series A, A-1, and B Preferred Stock financing (See Note 6). This entity received 1,697,490 shares of common stock on a basis unadjusted for a Forward Stock Split and a Reverse Stock Split, upon conversion of the promissory notes for principal and interest of $4,243,726.
In July 2024, Bayer was no longer considered a related party as their holdings in the Company no longer exceeded 5% of the total outstanding common stock, and the amounts disclosed above are accordingly presented while they were considered a related party.