Related Party Transactions
|9 Months Ended|
Sep. 30, 2018
|Related Party Transactions [Abstract]|
|Related Party Transactions||
8. Related Party Transactions
During the three and nine months ended September 30, 2018, we paid $134,883 and $294,116; and during the three and nine months ended September 30, 2017 we paid $-0- and $524,620 respectively, to Intrexon under the Oral Mucositis and Lantibiotic ECC agreements (See Note 7). Included in accounts payable and accrued expenses at September 30, 2018 and December 31, 2017 was $149,591 and $39,457, respectively, related to unpaid invoices received from Intrexon relating to work performed under the ECC Agreements. As of September 30, 2018 and 2017 Intrexon beneficially owned approximately 8.3% and 31.4% of our outstanding common stock excluding Intrexon’s ownership of our Series C Preferred which has no voting rights.
Taking into consideration the events described below in Note 10 – Subsequent Events, Intrexon’s beneficial ownership percentage would be approximately 5.2% of our outstanding common stock.
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