| Accounts Payable and Related Party |
Note
4 – Accounts Payable and Related Party
Accounts
payable consists of the following:
Schedule
of Accounts Payable
| |
|
As
of |
|
|
As
of |
|
| |
|
September
30, 2024 |
|
|
December
31, 2023 |
|
| |
|
(Unaudited) |
|
|
|
|
| Accounts payable to Cytovance, a related party
1
|
|
$ |
638,000 |
|
|
$ |
3,515,000 |
|
| Accounts payable to University of Minnesota |
|
|
697,000 |
|
|
|
130,000 |
|
| Other accounts payable |
|
|
1,277,000 |
|
|
|
683,000 |
|
| Total
accounts payable |
|
$ |
2,612,000 |
|
|
$ |
4,328,000 |
|
| 1 |
Accounts Payable
to Cytovance Biologics, Inc. (“Cytovance”), a Related Party, since Cytovance owns greater than 5% of the Company’s
issued and outstanding common stock |
See
Note 8 – Commitments and Contingencies, Significant Agreements.
The
details of the Company’s accounts payable to Cytovance Biologics, Inc., were as follows:
Schedule
of Accounts Payable to Related Party
| |
|
September 30, 2024 |
|
|
September 30, 2023 |
|
| |
|
Nine Months Ending |
|
| |
|
September 30, 2024 |
|
|
September 30, 2023 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Beginning balance |
|
$ |
3,515,000 |
|
|
$ |
2,283,000 |
|
| Invoices, net |
|
|
1,365,000 |
|
|
|
3,691,000 |
|
| Payments in cash |
|
|
(3,432,000 |
) |
|
|
(1,710,000 |
) |
| Payments in common stock, at fair value |
|
|
(810,000 |
) |
|
|
(1,120,000 |
) |
| Ending balance |
|
$ |
638,000 |
|
|
$ |
3,144,000 |
|
University
of Minnesota
See
Note 8 – Commitments and Contingencies, Significant Agreements.
|