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NOTE 6 – COMMITMENTS AND CONTINGENCIES
The Company has certain financial commitments in relation to Research and Development contracts. As of May 31, 2019:
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The Company is obligated to make one payment of $77,760 on March 1, 2019 for research and development. The March 1, 2019 payment has not yet been made by the Company.
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The Company is obligated to make two semi-annual payments totaling 115,000 GBP over the next year. A payment of $57,500 GBP is due on October 5, 2018, and April 5, 2019, respectively. The October 5, 2018 and April 5, 2019 payments have not yet been paid by the Company.
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The Company is invoiced monthly and quarterly in relation to several Research and Development contracts.
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The Company may be obligated to make additional payments related to Research and Development contracts entered into, dependent on the progress and milestones achieved through the programs.
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