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Accounts Payable and Related Party | 12 Months Ended
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Dec. 31, 2024
Payables and Accruals [Abstract] |
Accounts Payable and Related Party | Note 4 – Accounts Payable and Related Party Accounts payable consists of the following: Schedule of Accounts Payable
|  | As of |  |  |  |  |  | As of |  |  |  |
|  | December 31, 2024 |  |  | % |  |  | December 31, 2023 |  |  | % |
Accounts payable to Cytovance, a related party 1 |  | $ | 1,183,000 |  |  |  | 31 | % |  | $ | 3,515,000 |  |  |  | 81 | %
Accounts payable to University of Minnesota |  |  | 712,000 |  |  |  | 18 | % |  |  | 121,000 |  |  |  | 3 | %
Legal services firm |  |  | 1,505,000 |  |  |  | 39 | % |  |  | 130,000 |  |  |  | 3 | %
Accounts payable |  |  | 1,505,000 |  |  |  | 39 | % |  |  | 130,000 |  |  |  | 3 | %
Other accounts payable |  |  | 453,000 |  |  |  | 12 | % |  |  | 562,000 |  |  |  | 13 | %
Total accounts payable |  | $ | 3,853,000 |  |  |  |  |  |  | $ | 4,328,000 |  |  |  |  |
1 | Accounts Payable to Cytovance Biologics, Inc. (“Cytovance”), a Related Party, since Cytovance owns greater than 5% of the Company’s issued and outstanding common stock. See Note 8 – Commitments and Contingencies, Significant Agreements.
The details of the Company’s accounts payable to Cytovance Biologics, Inc., were as follows: Schedule of Accounts Payable to Related Party
|  | Year Ending |
|  | December 31, 2024 |  |  | December 31, 2023 |
Beginning balance |  | $ | 3,515,000 |  |  | $ | 2,264,000 |
Invoices, net |  |  | 2,335,000 |  |  |  | 4,584,000 |
Payments in cash |  |  | (3,857,000 | ) |  |  | (2,213,000 | )
Payments in common stock, at fair value |  |  | (810,000 | ) |  |  | (1,120,000 | )
Ending balance |  | $ | 1,183,000 |  |  | $ | 3,515,000 |
During the year ended December 31, 2024, the Company issued 127,597 shares of common stock with a fair value of $810,000 to Cytovance as partial payment of research and development payables. The shares were valued at the respective date of the settlement. During the year ended December 31, 2023, the Company issued 57,437 shares of common stock with a fair value of $1,120,000, consisting of $702,000 in share settled payables and $418,000 in gain on the extinguishment, to Cytovance as partial payment of research and development payables. The shares were valued at the respective date of the settlement. University of Minnesota See Note 8 – Commitments and Contingencies, Significant Agreements.

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