Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future milestone payments are shown in the table below, converted to dollars from euros
Milestone Event   Percent
Milestone
Fees
    Amount  
90% of case report form pages monitored     5 %   $ 155,457  
PE analysis     5 %   $ 155,457  
Database is locked     10 %   $ 310,915  

 

Schedule of lease expense
Components of total lease cost:   Three months
ended
September 30,
2021
    Nine months
ended
September 30,
2021
 
             
Operating lease expense   $ 22,231     $ 56,090  
Short-term lease expense    
     
 
Total lease cost   $ 22,231     $ 56,090  

 

Schedule of supplemental cash flow information related to leases
Cash paid for amounts included in the measurement of lease liabilities:   Nine months
ended
September 30,
2021
 
       
Operating cash flows for operating leases   $ 45,146  
         
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets   $ 294,294  

 

Schedule of supplemental balance sheet information related to leases
    As of
September 30,
2021
 
Assets      
Lease right of use assets   $ 258,594  
Total lease assets   $ 258,594  
         
Liabilities        
Current liabilities:        
Lease liability - current portion   $ 47,819  
Noncurrent liabilities:        
Lease liability, net of current portion     220,249  
Total lease liability   $ 268,068  

 

Schedule of weighted-average remaining lease term
    As of
September 30,
2021
 
Weighted average remaining lease term (in years) - operating leases     4.33  
Weighted average discount rate - operating leases     9.00 %

 

Schedule of future lease payments included in the measurement of lease liabilities
Year ending December 31,   Operating Leases  
2021 (remaining)     22,573  
2022     70,202  
2023     72,687  
2024     75,231  
2025     77,864  
2026 and thereafter     6,508  
Total Minimum Lease Payments   $ 325,065  
Less effects of discounting     (56,997 )
Present value of future minimum lease payments   $ 268,068