Collaborative Agreement (Details) - USD ($)

3 Months Ended

May 06, 2016

Dec. 31, 2016

Sep. 30, 2016

Dec. 29, 2015

Collaborative Agreement (Textual)

Amount received from BriVision

$ 6,500,000

$ 6,500,000

Accounts payable

18,370

Collaborative Agreement [Member]

Collaborative Agreement (Textual)

Description of payment settlement schedule

● upfront payment shall upon the signing of this Collaborative Agreement: 3.5% of total payment. After receiving upfront payment from BriVision, BioLite has to deliver all data to BriVision in one week.

● upon the first IND submission, BriVision shall pay, but no later than December 15, 2016: 6.5% of total payment. After receiving second payment from BriVision, BioLite has to deliver IND package to BriVision in one week.

● at the completion of first phase II clinical trial, BriVision shall pay, but no later than September 15, 2017: 15% of total payment. After receiving third payment from BriVision, BioLite has to deliver phase II clinical study report to BriVision in three months.

● upon the phase III IND submission, BriVision shall pay, but no later than December 15, 2018: 20% of total payment. After receiving forth payment from BriVision, BioLite has to deliver IND package to BriVision in one week.

● at the completion of phase III, BriVision shall pay, but no later than September 15, 2019:25% of total payment. After receiving fifth payment from BriVision, BioLite has to deliver phase III clinical study report to BriVision in three months.

● upon the NDA submission, BriVision shall pay, but no later than December 15, 2020, BriVision shall pay: 30% of total payment. After receiving sixth payment from BriVision, BioLite has to deliver NDA package to BriVision in one week.

Amount received from BriVision

$ 6,500,000

$ 100,000,000

Upfront payments

$ 3,500,000

Milestone payments to BioLite in cash

$ 2,600,000

Common stock newly issued, value

$ 900,000

Common stock newly issued, shares

562,500

Share price

$ 1.60

Licensing rights

3,500,000

Accounts payable

$ 6,500,000

Percentage of payments under collaborative agreement

3.50%

Collaborative Arrangement One [Member]

Collaborative Agreement (Textual)

Description of payment settlement schedule

Pursuant to the Collaborative Agreement,6.5% of total payment, $6,500,000 shall be made upon the first IND submission which was submitted in March 2016. $6,500,000 was wholly recorded as accounts payable as of December 31, 2016.

Licensing rights

$ 6,500,000

Percentage of payments under collaborative agreement

6.50%