License Agreements (Details Narrative) - USD ($) |
1 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Jul. 30, 2021 |
Mar. 31, 2017 |
Dec. 31, 2020 |
Jun. 30, 2019 |
|
| Series 1c preferred units issued | 5,221,156 | |||
| License Agreement | Villani, Inc | ||||
| Outstanding loan forgiven | $ 400,000 | |||
| Series 1c preferred units issued | 5,221,156 | 5,221,156 | ||
| Percentage of fully diluted capitalization | 5.00% | |||
| Proceeds from stock issued | $ 730,962 | |||
| Maximum future milestone payments | $ 20,250,000 | |||
| Description of sublicense revenue | If the Company sublicenses the License, the Company is obligated to pay to Villani a sublicense fee of between 5% and 15% of Sublicense revenues (as defined in the License Agreement) received by the Company | |||
| Description of termination of agreement | (i) by either party for material breach with 90 days written notice, or 30 days’ notice if for material payment breach, if such material breach is not cured within such notice period, (ii) immediately upon written notice to either party if either party initiates a voluntary bankruptcy proceeding, dissolves or winds-up its business, (iii) immediately upon written notice to either party if either party becomes subject to involuntary bankruptcy proceedings, if such proceedings are not dismissed or stayed within 90 days. | |||
| License Agreement (Second Amendment) | Villani, Inc | ||||
| Payments made to related party after IPO closed | $ 1,000,000 | |||
| Future milestone payments payable upon the achievement of specified development and sales milestones | $ 40,500,000 | |||