COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
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3 Months Ended |
9 Months Ended |
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Jul. 06, 2020 |
May 20, 2020 |
Apr. 08, 2020 |
Mar. 24, 2020 |
Nov. 20, 2019 |
Nov. 01, 2017 |
Mar. 15, 2017 |
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
May 31, 2020 |
Dec. 31, 2019 |
COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Class of Warrant or Rights, Granted (in Shares) |
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6,575
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473,772
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125,000
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Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) |
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$ 10.00
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$ 5.00
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Long-term Purchase Commitment, Amount |
$ 3,175,000
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$ 13,800,000
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Warrants and Rights Outstanding, Term |
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8 years
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Other Commitment |
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$ 50,000
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Other Income |
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$ 700,000
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Royalty Percentage of Net Sales |
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10.00%
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Asset Purchase Agreement, Description of Royalty |
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As part of the acquired assets, ViralClear received an assignment and licensing rights agreement from Trek with a third-party vendor regarding certain formulas and compounds usage. The agreement calls for milestone payments upon marketing authorization (as amended and defined with respect of product in a particular jurisdiction in the territory, the receipt of all approvals from the relevant regulatory authority necessary to market and sell such product in any such jurisdiction, excluding any pricing approval or reimbursement authorization) in any first and second country of $10 million and $5 million, respectively, in addition to 6% royalty payments.
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Shares Issued, Price Per Share (in Dollars per share) |
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$ 10.00
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Defined Contribution Plan, Cost |
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$ 49,342
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$ 31,178
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$ 131,025
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$ 69,988
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Warrants at $6.16 [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Class of Warrant or Rights, Granted (in Shares) |
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284,455
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Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) |
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$ 6.16
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$ 6.16
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Warrants and Rights Outstanding, Term |
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8 years
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ViralClear [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Asset Purchase Agreement, Description of Royalty |
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In addition, in the event of sublicensing, sale, transfer, assignment or similar transaction, ViralClear agreed to pay Trek 10% of the consideration received.As part of the Purchased Assets, ViralClear received an assignment and licensing rights agreement from Trek with a third-party vendor regarding certain formulas and compounds usage. The agreement, as amended on September 2, 2020, calls for milestone payments upon marketing authorization (as defined) in any first and second country of $10 million and $5 million, respectively, in addition to 6% royalty payments
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Stock Issued During Period, Shares, Purchase of Assets (in Shares) |
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259,959
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Shares Issued, Price Per Share (in Dollars per share) |
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$ 0.001
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$ 10.00
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2017 Know-How License Agreement [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Agreement, Term |
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10 years
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Class of Warrant or Rights, Granted (in Shares) |
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252,000
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Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) |
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$ 3.75
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Long-term Purchase Commitment, Amount |
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$ 25,000
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Royalty Guarantees, Commitments, Amount |
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$ 625,000
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Tools Agreement [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Royalty Guarantees, Commitments, Amount |
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550,000
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Other Commitment |
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$ 100,000
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Tools Agreement [Member] | Warrants at $6.16 [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) |
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$ 6.16
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Phase II Milestone [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Royalty Guarantees, Commitments, Amount |
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$ 100,000
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Regulatory Approval Milestone [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Royalty Guarantees, Commitments, Amount |
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$ 100,000
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Initiation of Raw Material Procurement [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Long-term Purchase Commitment, Amount |
700,000
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Start-up of Manufacturing [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Long-term Purchase Commitment, Amount |
650,000
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Manufacturing Completion of 500kg of VRT-754659 [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Long-term Purchase Commitment, Amount |
580,000
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Finalization of Manufacturing Process [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Long-term Purchase Commitment, Amount |
$ 1,245,000
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Sherpa Technology Group [Member] |
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COMMITMENTS AND CONTINGENCIES (Details) [Line Items] |
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Agreement, Description |
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In connection with the SOW, the Company paid Sherpa fee of (i) $200,000 in cash, of which $25,000 will be paid on January 1, 2018, with the remainder paid upon completion of certain objectives, and (ii) a ten-year option to purchase up to 120,000 of the Company’s common stock at an exercise of $3.75 per share of common stock, of which 60,000 options vest immediately and 60,000 options were performance conditioned and subsequently vested.
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Professional and Contract Services Expense |
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$ 67,500
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$ 75,000
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221,863
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$ 225,000
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Other Accrued Liabilities |
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$ 22,500
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$ 22,500
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$ 27,623
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