Commitments and Contingencies (Details Narrative) |
6 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Jan. 10, 2020
USD ($)
|
Dec. 13, 2019
USD ($)
$ / shares
shares
|
Aug. 07, 2019 |
Jun. 30, 2020
USD ($)
|
Jun. 30, 2020
EUR (€)
|
Jun. 30, 2019
USD ($)
|
Jun. 30, 2020
EUR (€)
|
Dec. 31, 2019
USD ($)
|
|
Total Collaborative Agreement Obligations | $ 2,048,180 | |||||||
Total long-term debt | 2,675,755 | |||||||
Common stock, restricted shares issued in exchange of purchased outstanding shares, value | $ 73,263 | $ 333,969 | ||||||
Common stock, restricted shares issued in exchange of purchased outstanding shares, shares | shares | 73,263 | |||||||
Weighted trading price | $ / shares | $ 4.56 | |||||||
Repayment of debt | $ 357,000 | $ 350,000 | ||||||
Holdback period | 9 months | |||||||
Net liabilities | $ 55,404 | $ 6,535 | ||||||
Stock based compensation expenses | $ 165,464 | $ 338,331 | ||||||
Texas A&M University [Member] | ||||||||
Agreement description | The Company entered into agreement with TAMU for provision of in kind services of personnel, animal samples and laboratories equipment for a non-controlling interest of 7.5% in Volition Vet and in a year from the agreement TAMU would receive a further 5%, giving them in total 12.5% | The Company entered into agreement with TAMU for provision of in kind services of personnel, animal samples and laboratories equipment for a non-controlling interest of 7.5% in Volition Vet and in a year from the agreement TAMU would receive a further 5%, giving them in total 12.5% | ||||||
Operating Lease Right of Use Obligations [Member] | ||||||||
Weighted average discount rate | 4.47% | 4.47% | ||||||
Weighted average remaining lease term | 1 year 8 months 12 days | 1 year 8 months 12 days | ||||||
Operating lease right-of-use assets and liabilities | $ 234,095 | $ 242,011 | ||||||
Payment of lease liabilities | 116,541 | |||||||
Operating lease expense | 117,357 | |||||||
Short term lease costs | 10,737 | |||||||
Managing Director's Agreement [Member] | ||||||||
Stock based compensation expenses | $ 753,000 | |||||||
Transaction agreement description | In connection with the transaction agreement, the Company also entered into a 2-year Managing Director’s agreement with the founder of Octamer for a payment of €288,000 Euros payable in equal monthly installments over such 2-year period and a royalty agreement with the founder providing for the payment of royalties in the amount of 6% of net sales of Octamer’s nucleosomes as reagents to pharmaceutical companies for use in the development, manufacture and screening of molecules for use as therapeutic drugs for a period of 5 years post-closing. | In connection with the transaction agreement, the Company also entered into a 2-year Managing Director’s agreement with the founder of Octamer for a payment of €288,000 Euros payable in equal monthly installments over such 2-year period and a royalty agreement with the founder providing for the payment of royalties in the amount of 6% of net sales of Octamer’s nucleosomes as reagents to pharmaceutical companies for use in the development, manufacture and screening of molecules for use as therapeutic drugs for a period of 5 years post-closing. | ||||||
Due to related party | $ 277,794 | |||||||
In 2015 [Member] | Finance Lease Obligations [Member] | Automated Liquid Handling Robots [Member] | ||||||||
Maturity date | May 31, 2020 | May 31, 2020 | ||||||
Amount payable | $ 0 | |||||||
Purchase price for the property | € | € 550,454 | |||||||
In 2018 [Member] | Finance Lease Obligations [Member] | BNP Paribas leasing solutions [Member] | ||||||||
Maturity date | Jan. 31, 2022 | Jan. 31, 2022 | ||||||
Amount payable | $ 15,255 | |||||||
Purchase price for the property | € | 25,000 | |||||||
Leased equipment amortized term | 5 years | 5 years | ||||||
In 2016 [Member] | Finance Lease Obligations [Member] | ING Asset Finance Belgium S.A. [Member] | ||||||||
Maturity date | May 31, 2031 | May 31, 2031 | ||||||
Amount payable | $ 619,808 | |||||||
Purchase price for the property | € | 1,120,000 | |||||||
May 1, 2019 [Member] | Collaborative Arrangement, Co-promotion [Member] | ||||||||
Collaborative obligations amount due | $ 320,000 | |||||||
Research collaboration agreement description | The Company entered into a research collaboration agreement with the University of Taiwan to collect a total of 1,200 samples for a 2-year period for a cost to the Company of up to $320,000 payable over such period. | The Company entered into a research collaboration agreement with the University of Taiwan to collect a total of 1,200 samples for a 2-year period for a cost to the Company of up to $320,000 payable over such period. | ||||||
Novis Animal Solutions LLC [Member] | Consulting Services Agreement [Member] | ||||||||
Potential equity interest | 5.00% | |||||||
University of Michigan [Member] | In 2017 [Member] | Clinical Study Research Agreement [Member] | ||||||||
Lease agreement expire period | 3 years | 3 years | ||||||
Collaborative obligations amount | $ 3,000,000 | |||||||
Collaborative obligations amount due | $ 138,000 | |||||||
Munich University [Member] | In 2016 [Member] | Collaborative Research Agreement [Member] | ||||||||
Lease agreement expire period | 3 years | 3 years | ||||||
Collaborative obligations amount | € | 360,000 | |||||||
Collaborative obligations amount due | $ 110,099 | |||||||
DKFZ [Member] | In 2016 [Member] | Research Co-operation Agreement [Member] | ||||||||
Lease agreement expire period | 5 years | 5 years | ||||||
Collaborative obligations amount | € | 400,000 | |||||||
Collaborative obligations amount due | $ 224,693 | |||||||
DKFZ [Member] | In 2015 [Member] | Research Sponsorship Agreement [Member] | ||||||||
Lease agreement expire period | 3 years | 3 years | ||||||
Collaborative obligations amount | € | 338,984 | |||||||
Collaborative obligations amount due | $ 84,260 | |||||||
University of Taiwan [Member] | In 2018 [Member] | Clinical Study Research Agreement [Member] | ||||||||
Lease agreement expire period | 3 years | 3 years | ||||||
Collaborative obligations amount | $ 2,550,000 | |||||||
Collaborative obligations amount due | 1,280,000 | |||||||
Walloon Region Government [Member] | In 2018 [Member] | Colorectal Cancer Research Agreement [Member] | ||||||||
Amount payable | $ 203,908 | |||||||
Grant receivable | € | 605,000 | |||||||
Repayment of grants | € | 181,500 | |||||||
Terms of agreement description | It is due to pay a 3.53% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 181,500 Euros and the 3.53% royalty on revenue, is equal to the amount of funding received. | It is due to pay a 3.53% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 181,500 Euros and the 3.53% royalty on revenue, is equal to the amount of funding received. | ||||||
Total grants repayable | $ 341,427 | |||||||
Walloon Region Government [Member] | In 2010 [Member] | ||||||||
Amount payable | $ 137,519 | |||||||
Grant receivable | € | 1,050,000 | |||||||
Repayment of grants | € | € 314,406 | |||||||
Terms of agreement description | It is due to pay a 6% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 314,406 Euros and the 6% royalty on revenue, is twice the amount of funding received. | It is due to pay a 6% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 314,406 Euros and the 6% royalty on revenue, is twice the amount of funding received. | ||||||
Long-term Debt [Member] | In 2018 [Member] | Namur Innovation and Growth [Member] | ||||||||
Fixed interest rate on lease | 4.00% | 4.00% | ||||||
Long-term Debt [Member] | In 2018 [Member] | Loan Agreement [Member] | Namur Innovation and Growth [Member] | ||||||||
Total long-term debt | $ 330,568 | |||||||
Repayment of long-term loan amount | € | € 500,000 | |||||||
Loan agreement term | 4 years | 4 years | ||||||
Long-term Debt [Member] | Namur Invest [Member] | In 2019 [Member] | Loan Agreement [Member] | ||||||||
Total long-term debt | $ 2,606,922 | |||||||
Principal balance payable | $ 561,732 | |||||||
Repayment of long-term loan amount | € | € 500,000 | |||||||
Loan agreement term | 4 years | 4 years | ||||||
Fixed interest rate on lease | 4.80% | 4.80% | ||||||
Maturity date | Sep. 30, 2023 | Sep. 30, 2023 | ||||||
Long-term Debt [Member] | Namur Invest [Member] | In 2017 [Member] | ||||||||
Fixed interest rate on lease | 4.00% | 4.00% | ||||||
Long-term Debt [Member] | Namur Invest [Member] | In 2017 [Member] | Loan Agreement [Member] | ||||||||
Total long-term debt | $ 118,008 | |||||||
Repayment of long-term loan amount | € | € 350,000 | |||||||
Loan agreement term | 4 years | 4 years | ||||||
Long-term Debt [Member] | Namur Invest [Member] | In 2016 [Member] | ||||||||
Fixed interest rate on lease | 4.85% | 4.85% | ||||||
Long-term Debt [Member] | Namur Invest [Member] | In 2016 [Member] | Loan Agreement [Member] | ||||||||
Total long-term debt | $ 285,383 | |||||||
Repayment of long-term loan amount | € | € 440,000 | |||||||
Loan agreement term | 7 years | 7 years | ||||||
Long-term Debt [Member] | SOFINEX [Member] | In 2017 [Member] | ||||||||
Fixed interest rate on lease | 4.50% | 4.50% | ||||||
Long-term Debt [Member] | SOFINEX [Member] | In 2017 [Member] | Loan Agreement [Member] | ||||||||
Total long-term debt | $ 1,067,291 | |||||||
Repayment of long-term loan amount | € | € 1,000,000 | |||||||
Loan agreement term | 7 years | 7 years | ||||||
Long-term Debt [Member] | ING [Member] | In 2016 [Member] | ||||||||
Fixed interest rate on lease | 2.62% | 2.62% | ||||||
Long-term Debt [Member] | ING [Member] | In 2016 [Member] | Loan Agreement [Member] | ||||||||
Total long-term debt | $ 243,940 | |||||||
Repayment of long-term loan amount | € | € 270,000 | |||||||
Loan agreement term | 15 years | 15 years |