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NOTE 6 – COMMITMENTS AND CONTENGENCIES
The Company has certain financial commitments in relation to Research and Development contracts. As of November 30, 2018:
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The Company is obligated to make two payments of $77,760 each on December 1, 2018, and March 1, 2019 for research and development. The December 1, 2018 payment has not yet been paid by the Company. |
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The Company is obligated to make a two semi-annual payments totaling 115,000 GBP over the next year. Payments of $57,500 GBP are obligated to be made on October 5, 2018, and April 5, 2019. The October 5, 2018 payment has 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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