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Commitments
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Note 7. Commitments

Effective March 1, 2015, the Company entered into a lease agreement (the “Lease”) in the Pittsburgh Life Sciences Greenhouse at a monthly rate of $750. The Lease was renewed effective March 1, 2016 at a monthly rate of $800 through August 30, 2018. Rent expense for the three months ended September 30, 2018 and 2017 was $1,600 and $2,400, respectively. Rent expense for the nine months ended September 30, 2018 and 2017 was $6,400 and $7,200, respectively.

 

In connection with the Company’s anticipated regulatory filings, the Company has engaged StemCell Systems GmbH (“StemCell Systems”) to provide it with prototypes and related documents under various agreements. Pursuant to these engagements the Company incurred expenses of $14,315 and $39,708 during the three months ended September 30, 2018 and 2017, respectively, and $39,499 and $146,538 during the nine months ended September 30, 2018 and 2017, respectively. Dr. Gerlach, from whom the Company purchased the CellMistTM System technologies, is a principal of StemCell Systems.

  

On August 1, 2017, the Company and the University of Pittsburgh entered into a Corporate Research Agreement whereby the University of Pittsburgh will perform academic research related to the Company’s technologies in exchange for $171,595. During the three and nine months ended September 30, 2018, the Company expensed $nil and $85,798, respectively, pursuant to the Corporate Research Agreement. Dr. Gerlach, from whom the Company purchased the CellMistTM System technologies, is a professor at the University.

 

See also “Note 8. Related Party Transactions.”