Quarterly report [Sections 13 or 15(d)]

Accounts Payable and Related Party (Tables)

v3.25.3
Accounts Payable and Related Party (Tables)
 9 Months Ended
Sep. 30, 2025
Payables and Accruals [Abstract]  
Schedule of Accounts Payable

Accounts payable consist of the following:

 

    As of           As of        
    September 30, 2025     %     December 31, 2024     %  
Accounts payable to Cytovance, a related party 1   $ 60,000       8 %   $ 1,183,000       31 %
Accounts payable to University of Minnesota     463,000       60 %     712,000       18 %
Legal services firm     —       —%       1,505,000       39 %
Other accounts payable     246,000       32 %     453,000       12 %
Total accounts payable   $ 769,000       100 %   $ 3,853,000       100 %

 

1 Accounts Payable to Cytovance, a related party, since Cytovance owns greater than 5% of the Company’s issued and outstanding common stock. See Note 7 – Commitments and Contingencies, Significant Agreements.
Schedule of Accounts Payable to Related Party

The details of the Company’s accounts payable to Cytovance were as follows:

 Schedule of Accounts Payable to Related Party

           
    Nine Months Ending  
    September 30, 2025     September 30, 2024  
    (Unaudited)     (Unaudited)  
Beginning balance   $ 1,183,000     $ 3,515,000  
Invoices, net     686,000       1,365,000  
Payments in cash     (962,000 )     (3,432,000 )
Payments in common stock, at fair value     —       (810,000 )
Payments in pre-funded warrants, at fair value     (847,000 )     —  
Ending balance   $ 60,000     $ 638,000