RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

6. RELATED PARTY TRANSACTIONS

In November 2018, the Company authorized payment of $3,500 per month to Dr. Hirschman for his services as Chief Executive Officer and $3,500 to Mr. Abrams for his services as a director. Effective January 1, 2020, Mr. Abrams has waived the payments of fees for his services. Effective April 1, 2020, Dr. Hirschman has waived the payment of his fees as Chief Executive Officer.

As of June 30, 2022, and December 31, 2021, the Company owed Mr. Abrams, a director of the Company, an aggregate total of $189,089 and $181,490, respectively, for outstanding principal and accrued and unpaid interest on certain Bridge Notes. See Note 4 above.