Related Party Transactions
|9 Months Ended|
Sep. 30, 2019
|Related Party Transactions|
|Note 7- Related Party Transactions||
In 2011, the Company entered into a Research and License Agreement (the Agreement ) with Yeda for Veto Cell technology. As Yeda is a founder and a significant shareholder of the Company, it is a related party.
During the three months ended September 30, 2019 and 2018, the Company recorded research and development expense of $33,333 and $72,527, respectively, and during the nine months ended September 30, 2019 and 2018, the Company recorded research and development expense of $83,333 and $375,151, respectively, in connection with the agreement with Yeda.
On January 7, 2019, the Company received proceeds of $50,000 from the Chairman of the Board through the sale of 6,667 shares of Series A Convertible Preferred Stock at $7.50 per share, which amount is included in the issuances disclosed in Note 6, Stockholders Deficiency.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef