v3.25.4
Related Party Transactions
12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

7. RELATED PARTY TRANSACTIONS

 

NanoHybrids, Inc.

 

In December 2021, the Company entered into an agreement with NanoHybrids, Inc. (“NanoHybrids”), an entity in which the Company’s former Chief Technology Officer, Jason Cook, served as Chief Executive Officer of prior to becoming employed by the Company, to enable NonoHybrids to utilize the Company’s research and development staff and laboratory facility (the “Sharing and Services Agreement”). Any hours worked by Company employees for NanoHybrids were billed to NanoHybrids at a bill rate of the respective employee’s fully burdened personnel cost plus 10%. Additionally, the Company purchased certain lab supplies for NanoHybrids and rebilled those costs to NanoHybrids. Dr. Cook was the majority shareholder of NanoHybrids during the time of this arrangement. The table below summarizes the amounts earned for the years ended December 31, 2025 and 2024 and balances due from NanoHybrids as of December 31, 2025 and 2024:

 

   Year Ended
December 31,
 
   2025   2024 
Income from NanoHybrids included in Other Income  $6,873   $127,079 
Cash receipts from NanoHybrids  $21,437   $153,783 

 

   As of December 31, 
   2025   2024 
Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets  $
    -
   $14,564