Subsequent Events

3 Months Ended

Mar. 31, 2022

Commitments

Note 4. Subsequent Events

Note 4. Subsequent Events

In April 2022, the Company agreed with Round Enterprises Ltd and Eardley Holding AG the issuance of promissory notes with a total combined value of €1,200, with an annual interest rate of 2.5%. The promissory notes will be issued in two tranches, one tranche of €600 in April 2022 and the second tranche of €600 about three months later. The maturity date for the first tranche is the later of (i) September 30, 2022, or (ii) the end of a subsequent calendar quarter in which the Company receives a written request from the lender for repayment of the unpaid principal and accrued interest due under the Notes. The total amount of the first tranche of €600 is expected to be received on April 31, 2022.

In April 2022, the Company filed a report to the NIH in collaboration with ULL, to validate funds for the fifth year of the ongoing HIV project (May 2022 to April 2023). The approval is pending as of May 13, 2022.

In May 2022, the Company entered into engagement agreements with two biotech consulting firms to source potential licensing, financing and/or acquisition opportunities for the Company under customary compensation terms.