Note 10. Other Agreements

NuvoGen Obligation

Pursuant to the Company’s asset purchase agreement with NuvoGen Research, LLC (“NuvoGen”), as amended, the Company is obligated to pay NuvoGen the greater of $400,000 or 6% of annual revenue until the obligation is paid in full. Although an amendment to the agreement allowed for deferral of any revenue-based payments through December 31, 2017, no revenue-based payments were deferred. In addition to fixed quarterly payments of $100,000, revenue-based payments of $149,519 and $85,574 were payable as of March 31, 2018 and December 31, 2017, respectively. There have been no significant modifications to the terms and conditions of the Company’s NuvoGen obligation since the disclosures made in the Company’s Annual Report on Form 10-K, filed with the SEC on March 23, 2018.

The minimum remaining payments due to NuvoGen at March 31, 2018, including $149,519 of additional revenue-based payments payable as of March 31, 2018, are as follows for each fiscal year, although actual payments could be significantly more than provided in the table, to the extent that 6% of the Company’s annual revenue exceeds $400,000:

2018	$	449,519
2019		400,000
2020		400,000
2021		400,000
2022		400,000
2023 and beyond		5,663,650
Total NuvoGen obligation payments		7,713,169
Plus interest accretion		115,660
Total NuvoGen obligation, net	$	7,828,829

Other Development Agreements

There have been no significant modifications or financial events relating to the development agreements entered into by the Company in prior periods with Invetech PTY Ltd. or Illumina, Inc. since the disclosures made by the Company in its Annual Report on Form 10-K, filed with the SEC on March 23, 2018.