Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.22.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2022
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  
Last patient last visit                 5 %   $ 149,465  
Database Lock     5 %   $ 149,465  
eTMF Transfer     5 %   $ 149,465  

 

Schedule of components of lease expense
    Three months
ended
March 31,
2022
    Three months
ended
March 31,
2021
 
Components of total lease cost:            
Operating lease expense   $ 19,376     $ 18,207  
Short-term lease expense    
     
 
Total lease cost   $ 19,376     $ 18,207  

 

Schedule of supplemental cash flow information related to leases
    Three months
ended
March 31,
2022
    Three months
ended
March 31,
2021
 
Cash paid for amounts included in the measurement of lease liabilities:            
Operating cash flows for operating leases   $ 17,606     $ 10,388  
                 
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets   $ 1,770     $ 294,294  

Schedule of supplemental balance sheet information related to leases
    As of
March 31,
2022
    As of December 31,
2021
 
Assets            
Lease right of use assets   $ 233,570     $ 246,209  
Total lease assets   $ 233,570     $ 246,209  
                 
Liabilities                
Current liabilities:                
Lease liability - current portion   $ 51,351     $ 49,585  
Noncurrent liabilities:                
Lease liability, net of current portion     193,797       207,375  
Total lease liability   $ 245,148     $ 256,960  

 

Schedule of weighted-average remaining lease term
    As of
March 31,
2022
    As of
March 31,
2021
 
Weighted average remaining lease term (in years) - operating leases     3.83       4.83  
Weighted average discount rate - operating leases     9.00 %     9.00 %

 

Schedule of future lease payments included in the measurement of lease liabilities
Year ending December 31,   Operating
Leases
 
2022 (remaining)     52,597  
2023     72,687  
2024     75,231  
2025     77,864  
2026 and thereafter     6,507  
Total Minimum Lease Payments   $ 284,886  
Less effects of discounting     (39,738 )
Present value of future minimum lease payments   $ 245,148