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NOTE 7 – COMMITMENTS AND CONTENGENCIES
The Company has certain financial commitments in relation to Research and Development contracts. As of August 31, 2018:
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The Company is obligated to make a $100,000 payment for research and development on October 1, 2018.
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The Company is obligated to make three payments of $77,760 each on September 1, 2018, December 1, 2018, and March 1, 2019 for research and development.
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The Company is obligated to make a two semi-annual payments totaling 154,000 GBP over during the next year. |
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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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