Related Party Transactions (Tables)

6 Months Ended

Dec. 31, 2020

Related Party Transactions

Summary of related parties

Related Parties	Relationship
Dr. Anil R. Diwan	Chairman, President, CEO, significant stockholder and Director
TheraCour Pharma, Inc. ("TheraCour")	An entity owned and controlled by Dr. Anil Diwan

	For the three months ended				For the six months ended
	December 31,		December 31,		December 31,		December 31,
	2020		2019		2020		2019
Property and Equipment
During the reporting period, TheraCour acquired property and equipment on behalf of the Company from third party vendors and sold such property and equipment, at cost, to the Company	$	—	$	—	$	2,560	$	4,139

	As of
	December 31,		June 30,
	2020		2020
Account Payable – Related Party
Pursuant to an Exclusive License Agreement with TheraCour, the Company was granted exclusive licenses for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. On November 1, 2019, the Company entered into the VZV Licensing Agreement with TheraCour. In consideration for obtaining these exclusive licenses, we agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of certain direct costs as a development fee and such development fees shall be due and payable in periodic installments as billed, (2) we will pay $2,000 or actual costs each month, whichever is higher for other general and administrative expenses incurred by TheraCour on our behalf, (3) to make royalty payments of 15% (calculated as a percentage of net sales of the licensed drugs) to TheraCour and; (4) to pay an advance payment equal to twice the amount of the previous months invoice to be applied as a prepayment towards expenses. On October 2, 2018, the Company agreed to enter into an agreement with TheraCour for a waiver of two months worth of prepaid balance in advance of anticipated invoicing, due under prior agreements until the filing of an IND and the application of the then current advance as a credit against current open invoices. Additionally, TheraCour agreed to defer $25,000 per month of development fees, beginning with July 2018 through December 31, 2019. Accounts payable due TheraCour at December 31, 2020 was $619,904 which was offset by a two month advance (see above) of $491,000. There was no advance at June 30, 2020.	$	128,904	$	561,580

	For the three months ended				For the six months ended
	December 31,		December 31,		December 31,		December 31,
	2020		2019		2020		2019
Research and Development Costs Paid to Related Party
Development fees and other costs charged by TheraCour pursuant to the license agreements between TheraCour and the Company for the development of the Company’s drug pipeline. No royalties are due TheraCour from the Company at December 31, 2020 and June 30, 2020	$	606,742	$	543,108	$	1,255,066	$	1,119,315