XML 33 R24.htm IDEA: XBRL DOCUMENT v3.23.2
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Mar. 07, 2022
Jan. 12, 2022
Jan. 02, 2022
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Annual license fee         $ 10,000   $ 10,000  
Annual royalty       $ 100,000   $ 100,000    
Accounts payable       427,355   427,355   $ 272,317
Professional fees       51,467 132,981 164,253 246,866  
Prepaid expense       77,780   77,780   7,483
Related Party [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Accounts payable       15,097   15,097   3,097
Massachusetts General Hospital [Member] | Related Party [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Accounts payable       15,097   $ 15,097   3,097
License Agreement [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
License agreement, description           the Company executed a License Agreement with MGH. Prior to the first commercial sale, the License Agreement requires the Company to pay MGH a non-refundable annual license fee of $10,000 by June 30, 2022, and on each subsequent anniversary of the Effective Date thereafter. The first non-refundable annual license fee was paid on July 1, 2022. As of June 30, 2023, the Company had yet to pay the second non-refundable license fee and is included in accounts payable, related party, on the unaudited consolidated balance sheets. Additionally, following the first commercial sale, the License agreement requires the Company to pay MGH a non-refundable annual minimum royalty in the amount of $100,000 per year within sixty days after each annual anniversary of the Effective Date. The Company has yet to generate any revenue as of June 30, 2023.    
License Agreement [Member] | Massachusetts General Hospital [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
License agreement, description           The License Agreement additionally requires VI to pay to MGH a $1.0 million “success payment” within 60 days after the first achievement of total net sales of Product or Process equal or exceeding $100,000,000 in any calendar year and $4,000,000 within 60 days after the first achievement of total net sales of Product or Process equal to or exceeding $250,000,000 in any calendar year. The Company is also required to reimburse MGH’s expenses in connection with the preparation, filing, prosecution and maintenance of all Patent Rights    
Percentage for royalty           1.00%    
Repayment of related party debt           $ 1,000,000.0    
Consulting Agreement [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Expenses included in professional fees       24,000 16,667 0 33,333  
Consulting Agreement [Member] | Toneguzzo Ph.D [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Repayment of related party debt     $ 5,000          
Consulting Agreement [Member] | Related Party [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Accounts payable       35,500   35,500   26,000
Consulting Agreement [Member] | Related Party [Member] | Toneguzzo Ph.D [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Accounts payable       40,000   40,000   $ 40,000
Consulting Agreement [Member] | Donohoe Advisory Associates, LLC [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Professional fees         $ 5,820   $ 10,680  
Prepaid expense       6,820   6,820    
Dividends, common stock           10,000    
Consulting Agreement [Member] | Donohoe Advisory Associates, LLC [Member] | Consultant [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Retainer fees   $ 17,500            
Professional fees           10,000    
Consulting Agreement [Member] | Alpha IR Group, LLC [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Agreed to payment of compensation $ 50,000              
Consulting Agreement [Member] | Alpha IR Group, LLC [Member] | Related Party [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Accounts payable       74,000   74,000    
Employment Arrangement [Member] | Chief Executive Officer and Chairman [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Capital       $ 8,000,000   $ 8,000,000    
Share based compensation description           (i) representing 1% of the Company’s fully diluted equity as of the payment date (the “Initial Equity Payment”) if the Company achieves a market capitalization of at least $250 million for sixty consecutive days during the Term (the “Initial Market Capitalization Target”); and (ii) representing the difference between 2% of the Company’s fully diluted equity as of the payment date and the amount of Initial Equity Payment (the “Subsequent Equity Payment” and, together with Initial Equity Payment, “Equity Payments”) if the Company achieves a market capitalization of at least $500 million for sixty consecutive days during the Term (the “Subsequent Market Capitalization Target” and, together with Initial Market Capitalization Target, “Market Capitalization Targets”), such that Mr. Pier has, in the aggregate, received shares of common stock of the Company representing 2% of the Company’s fully diluted equity as of the date of payment of Subsequent Equity Payment.    
Employment Arrangement [Member] | Deferred Bonus [Member] | Chief Executive Officer and Chairman [Member]                
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]                
Share based compensation           $ 100,000