General form of registration statement for all companies including face-amount certificate companies

Commitments and Contingencies (Details)

v3.24.0.1
Commitments and Contingencies (Details)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Oct. 11, 2023
Sep. 07, 2023
$ / shares
Feb. 22, 2023
USD ($)
Sep. 20, 2022
USD ($)
May 03, 2022
USD ($)
Apr. 27, 2022
USD ($)
Apr. 27, 2022
EUR (€)
Apr. 07, 2022
Feb. 24, 2022
USD ($)
Nov. 02, 2021
USD ($)
Nov. 02, 2021
EUR (€)
Sep. 23, 2021
Sep. 20, 2021
USD ($)
Sep. 01, 2021
USD ($)
Jul. 01, 2020
Mar. 14, 2019
USD ($)
May 13, 2018
USD ($)
Nov. 22, 2021
Nov. 17, 2021
Aug. 27, 2021
USD ($)
shares
Apr. 29, 2021
USD ($)
Mar. 30, 2021
shares
Feb. 25, 2021
USD ($)
Feb. 17, 2020
EUR (€)
Sep. 27, 2019
USD ($)
Sep. 27, 2019
EUR (€)
Feb. 26, 2019
USD ($)
Sep. 18, 2018
Aug. 20, 2018
shares
Jul. 25, 2018
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2023
USD ($)
$ / shares
Sep. 30, 2023
CAD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2022
CAD ($)
Dec. 31, 2022
EUR (€)
Dec. 31, 2021
USD ($)
Dec. 31, 2021
EUR (€)
Dec. 31, 2022
EUR (€)
Dec. 28, 2022
Apr. 27, 2022
EUR (€)
Dec. 31, 2021
EUR (€)
Nov. 02, 2021
EUR (€)
Oct. 29, 2021
USD ($)
Sep. 03, 2021
USD ($)
Sep. 03, 2021
GBP (£)
Jan. 01, 2020
USD ($)
May 08, 2018
USD ($)
Commitments and Contingencies (Details) [Line Items]                                                                                                
Compensatory damages in excess                           $ 11,286,570                                                                    
Principal amount                 $ 371,178                                                                              
Additional amount                 $ 300,000                                                                              
Interest accruing                                                             $ 6,776,686 $ 6,776,686   $ 6,776,686                            
Litigation settlement expense                                                               3,257,574 $ 4,395,000                              
Additional sum of amount                                                               $ 2,721,036   2,721,036                            
Loss Contingency, Damages Sought, Value       $ 2,000,000                                                                                        
Bid price per share (in Dollars per share) | $ / shares   $ 1                                                           $ 1                                
Legal expenses                                                                   125,255                            
Commitments combined amount                                                                   3,178,025 $ 4,395,000                          
Settlement paying amount                         $ 2,000,000                                                                      
Research and development expenses                                                                   $ 0   € 223,394 $ 443,151 € 152,848                    
Agreement period                                     1 year                             20 years 20 years 20 years 2 years 2 years                    
Annual license maintenance fee                                                             125,000 $ 125,000   $ 3,945     $ 252,973                      
Payment of first milestone                                                                                         $ 97,900 £ 70,546    
Research and development expenses                                                                   271,931                            
Prepaid balances | €                                                                             € 11,756                  
Past patent costs                   $ 66,223                                                                 € 49,207          
Initial License fee                   13,458 € 10,000                                                                          
Annual maintenance fee                   4,037 € 3,000                                                                          
Research and development expenses                                                             $ 87,846 314,028   240,731     2,947,536                      
Common shares (in Shares) | shares                                                         450,000                                      
Rent (in Euro) | €                                               € 0                                                
Percentage of consultant bonus                                           50.00%                                                    
Shares issues (in Shares) | shares                                       3,077   5,035                                                    
Financing transaction of agreement                                       $ 15,000,000                                                        
Consultant fee (in Euro) | €             € 23,000                                                                                  
Accrued fees (in Euro) | €                                                                                 € 4,000              
Payable Fees (in Euro) | €                                                                                 € 19,000              
Accrued amount           $ 15,000,000                                                                                    
Restricted common stock value                                         $ 50,000                     $ 1,692,725                                
Shares of license agreement                   $ 272                                                                            
Initial term of agreement     3 years                                                                                          
Consulting services payable                                                                   60,000                            
One-time payment                                                                   $ 43,750                            
Additional consideration agreement, description                                             As additional consideration for the CEO agreeing to enter into the agreement, the Company awarded him options to purchase 70,000 shares of the Company’s common stock, which have a term of 10 years, and an exercise price of $88.60 per share (the closing sales price on the date the board of directors approved the grant (February 26, 2021)). The options as subject to the Company’s 2020 Omnibus Incentive Plan and vest at the rate of (a) 1/5th of such options on the grant date; and (b) 4/5th of such options vesting ratably on a monthly basis over the following 36 months on the last day of each calendar month; provided, however, that such options vest immediately upon the CEO’s death or disability, termination without cause or a termination by the CEO for good reason (as defined in the agreement), a change in control of the Company or upon a sale of the Company.                                                  
Salary available to paid bonus                                                                   45.00% 45.00% 45.00%                        
Accrued Bonus                                                                   $ 313,875     205,500                      
Pecentage of salary               3.00%                                                                                
Percentage of accrual salary           20.00% 20.00% 20.00%                                                                                
Accrued bonus payable           $ 221,000                                                       139,500                            
Common stock to EarlyBird valued                                                                   $ 79                            
Percentage of targeted amount                                                                   50.00%         50.00%                  
Consulting Agreement [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                                                                   On February 22, 2021, the Company entered into a consultancy agreement (as amended, the “Consulting Agreement”) with a related party, Prof. Jagdeep Nanchahal (the “Consultant”). The Consulting Agreement was effective December 1, 2020.Pursuant to the Consulting Agreement, the Company agreed to pay the Consultant 15,000 British Pounds (GBP) per month (approximately $20,800) during the term of the agreement, increasing to 23,000 GBP per month (approximately $32,000) on the date (a) of publication of the data from the phase 2b clinical trial for Dupuytren’s Contracture (RIDD) and (b) the date that the Company has successfully raised over $15 million in capital. The Company also agreed to pay the Consultant the following bonus amounts:    ● the sum of £100,000 (approximately $138,000) upon submission of the Dupuytren’s Contracture clinical trial data for publication in a peer-reviewed journal (“Bonus 1”);   ● the sum of £434,673 GBP (approximately $605,000) (“Bonus 2”), which is earned and payable upon the Company raising a minimum of $15 million in additional funding, through the sale of debt or equity, after December 1, 2020 (the “Vesting Date”). Bonus 2 is payable within 30 days of the Vesting Date and shall not be accrued, due or payable prior to the Vesting Date. Bonus 2 is payable, at the election of the Consultant, at least 50% (fifty percent) in shares of the Company’s common stock, at the lower of (i) $60.00 per share, or (ii) the trading price on the date of the grant, with the remainder paid in GBP;   ● the sum of £5,000 (approximately $7,000) on enrollment of the first patient to the phase 2 frozen shoulder trial (“Bonus 3”); and   ● the sum of £5,000 (approximately $7,000) for enrollment of the first patient to the phase 2 delirium/POCD trial (“Bonus 4”).   On February 22, 2021, the Company entered into a consultancy agreement (as amended, the “Consulting Agreement”) with a related party, Prof. Jagdeep Nanchahal (the “Consultant”). The Consulting Agreement was effective December 1, 2020.Pursuant to the Consulting Agreement, the Company agreed to pay the Consultant 15,000 British Pounds (GBP) per month (approximately $20,800) during the term of the agreement, increasing to 23,000 GBP per month (approximately $32,000) on the date (a) of publication of the data from the phase 2b clinical trial for Dupuytren’s Contracture (RIDD) and (b) the date that the Company has successfully raised over $15 million in capital. The Company also agreed to pay the Consultant the following bonus amounts:    ● the sum of £100,000 (approximately $138,000) upon submission of the Dupuytren’s Contracture clinical trial data for publication in a peer-reviewed journal (“Bonus 1”);   ● the sum of £434,673 GBP (approximately $605,000) (“Bonus 2”), which is earned and payable upon the Company raising a minimum of $15 million in additional funding, through the sale of debt or equity, after December 1, 2020 (the “Vesting Date”). Bonus 2 is payable within 30 days of the Vesting Date and shall not be accrued, due or payable prior to the Vesting Date. Bonus 2 is payable, at the election of the Consultant, at least 50% (fifty percent) in shares of the Company’s common stock, at the lower of (i) $60.00 per share, or (ii) the trading price on the date of the grant, with the remainder paid in GBP;   ● the sum of £5,000 (approximately $7,000) on enrollment of the first patient to the phase 2 frozen shoulder trial (“Bonus 3”); and   ● the sum of £5,000 (approximately $7,000) for enrollment of the first patient to the phase 2 delirium/POCD trial (“Bonus 4”).   On February 22, 2021, the Company entered into a consultancy agreement (as amended, the “Consulting Agreement”) with a related party, Prof. Jagdeep Nanchahal (the “Consultant”). The Consulting Agreement was effective December 1, 2020.Pursuant to the Consulting Agreement, the Company agreed to pay the Consultant 15,000 British Pounds (GBP) per month (approximately $20,800) during the term of the agreement, increasing to 23,000 GBP per month (approximately $32,000) on the date (a) of publication of the data from the phase 2b clinical trial for Dupuytren’s Contracture (RIDD) and (b) the date that the Company has successfully raised over $15 million in capital. The Company also agreed to pay the Consultant the following bonus amounts:    ● the sum of £100,000 (approximately $138,000) upon submission of the Dupuytren’s Contracture clinical trial data for publication in a peer-reviewed journal (“Bonus 1”);   ● the sum of £434,673 GBP (approximately $605,000) (“Bonus 2”), which is earned and payable upon the Company raising a minimum of $15 million in additional funding, through the sale of debt or equity, after December 1, 2020 (the “Vesting Date”). Bonus 2 is payable within 30 days of the Vesting Date and shall not be accrued, due or payable prior to the Vesting Date. Bonus 2 is payable, at the election of the Consultant, at least 50% (fifty percent) in shares of the Company’s common stock, at the lower of (i) $60.00 per share, or (ii) the trading price on the date of the grant, with the remainder paid in GBP;   ● the sum of £5,000 (approximately $7,000) on enrollment of the first patient to the phase 2 frozen shoulder trial (“Bonus 3”); and   ● the sum of £5,000 (approximately $7,000) for enrollment of the first patient to the phase 2 delirium/POCD trial (“Bonus 4”).                          
Agreement period                                     1 year                                                          
IPO [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Issued and outstanding shares                                                                   5.00% 5.00% 5.00%                        
Fifth Oxford Agreement [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Research and development expenses                                                                         210,215                      
Prepaid balances                                                                   $ 14,233     80,852         € 58,788            
Chief Executive Officer [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
CEOs annual base salary                                             $ 450,000                                                  
Percentage of automatic annual salary increase                                             5.00%                                                  
Chief Financial Officer [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Additional consideration agreement, description                                             (a) 1/5th of such options upon the grant date; and (b) 4/5th of such options vesting ratably on a monthly basis over the following 36 months on the last day of each calendar month; provided, however, that such options vest immediately upon the CFO’s death or disability, termination without cause or a termination by the CFO for good reason (as defined in the agreement), a change in control of the Company or upon a sale of the Company.                                                  
Annual base salary                                             $ 300,000                                                  
Percentage of salary available to paid bonus                                                                   30.00%         30.00%                  
Accrued bonus payable                                                                   $ 90,000                            
Chief Operating Officer/Chief Business Officer [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Pecentage of salary           3.00%                                                                     3.00%              
Initial salary                                                                                       $ 390,000        
Initial salary subject to increase completion                                                                                       10,000        
Salary financing                                                                                       $ 50,000,000        
Percentage of start day anniversary                                                                                       5.00%        
Yissum [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                                                                   The Company shall pay Yissum the following amounts in connection with the achievement of the following milestones: ●Submission of the first Investigational New Drug application: $75,000 ●Dosing of first patient in phase II trial: $100,000 ●Dosing of first patient in phase Ill trial: $150,000 ●Upon first market authorization/clearance: $150,000 ●Upon second market authorization/clearance: $75,000 ●For every $250,000,000.00 US in accumulated Net Sales of the Product until $1,000,000,000.00 US in sales: $250,000 Upon the commercialization of the license, the Company shall pay Yissum a royalty equal to 3% of the first aggregate $500,000,000 of annual net sales and 5% thereafter. As of December 31, 2022 and 2021, the Company had no balances in either accounts payable and accrued expenses, respectively, relating to the Additional Yissum Agreement. During the years ended December 31, 2022 and 2021, the Company recorded $0 and $246,753, respectively, of research and development expenses. The Company shall pay Yissum the following amounts in connection with the achievement of the following milestones: ●Submission of the first Investigational New Drug application: $75,000 ●Dosing of first patient in phase II trial: $100,000 ●Dosing of first patient in phase Ill trial: $150,000 ●Upon first market authorization/clearance: $150,000 ●Upon second market authorization/clearance: $75,000 ●For every $250,000,000.00 US in accumulated Net Sales of the Product until $1,000,000,000.00 US in sales: $250,000 Upon the commercialization of the license, the Company shall pay Yissum a royalty equal to 3% of the first aggregate $500,000,000 of annual net sales and 5% thereafter. As of December 31, 2022 and 2021, the Company had no balances in either accounts payable and accrued expenses, respectively, relating to the Additional Yissum Agreement. During the years ended December 31, 2022 and 2021, the Company recorded $0 and $246,753, respectively, of research and development expenses. The Company shall pay Yissum the following amounts in connection with the achievement of the following milestones: ●Submission of the first Investigational New Drug application: $75,000 ●Dosing of first patient in phase II trial: $100,000 ●Dosing of first patient in phase Ill trial: $150,000 ●Upon first market authorization/clearance: $150,000 ●Upon second market authorization/clearance: $75,000 ●For every $250,000,000.00 US in accumulated Net Sales of the Product until $1,000,000,000.00 US in sales: $250,000 Upon the commercialization of the license, the Company shall pay Yissum a royalty equal to 3% of the first aggregate $500,000,000 of annual net sales and 5% thereafter. As of December 31, 2022 and 2021, the Company had no balances in either accounts payable and accrued expenses, respectively, relating to the Additional Yissum Agreement. During the years ended December 31, 2022 and 2021, the Company recorded $0 and $246,753, respectively, of research and development expenses.                        
ReFormation [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                             On July 1, 2020, the Company entered into an amended agreement with ReFormation Pharmaceuticals, Corp. (“ReFormation”) and 360 Life Sciences Corp. (“360”), whereby 360 has entered into an agreement to acquire 100% ownership of ReFormation, on or before July 31, 2020 (“Closing Date”). The Company shares officers and directors with each of ReFormation and 360. Upon the Closing Date, 360 will make tranche payments in tranches to 180 LP in the aggregate amount of $300,000. The parties agree that the obligations will be paid by 360 to 180 LP by payments of $100,000 for every $1,000,000 raised through the financing activities of 360, up to a total of $300,000, however, not less than 10% of all net financing proceeds received by 360 shall be put towards the obligation to the Company until paid in full. This transaction closed on July 31, 2020.                                                                  
Subsequent Event [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Payments for Other Fees         $ 714,557                                                                                      
Public offering percentage 20.00%                                                                                              
Single investor purchasing percentage. 98.00%                                                                                              
Compensation amount     $ 10,000                                                                                          
Oxford University Agreements [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Agreement period                                                                   2 years 2 years 2 years                        
Petcanna Shares [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                                                         Pursuant to the terms of the Sub-license Agreement, the Company has granted a sub-license on the Licensed Patents to pursue development and commercialization for the treatment of any and all veterinary conditions. In consideration, Petcanna will (a) issue 450,000 common shares of its share capital (the “Petcanna Shares”) 30 days after the effective date; and (b) pay royalties of 1% of net sales. The Company will be issued 85% and Yissum will be issued 15% of the 450,000 common shares of the Petcanna subsidiary.                                      
Stanford [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                       On or about September 23, 2021, the Company filed its Answer to the Amended Complaint in which the Company denied each of Dr. Krauss’ claims and further raised numerous affirmative defenses with respect thereto.                                   Furthermore, the Company will be obligated to make the following milestone payments:i) $100,000 upon initiation of Phase II trial,ii) $500,000 upon the first U.S. Food and Drug Administration approval of a product (the “Licensed Product”) resulting from the Licensed Patents; andiii) $250,000 upon each new Licensed Product thereafter.The Stanford License Agreement is cancellable by the Company with 30 days’ notice. Royalties, calculated at 2.5% of 95% of net product sales, will be payable to Stanford. Also, the Company will reimburse Stanford for patent expenses as per the agreement. The Company paid Stanford $20,000 for the annual license maintenance fee that was recorded to prepaid expenses and is being expensed on a straight-line basis over 12 months, which had a zero balance as of December 31, 2021. During the years ended December 31, 2022 and 2021, the Company recorded patent and license fees of $69,278 and $78,245, respectively, related to the Stanford License Agreement, which is included in general and administrative expenses on the accompanying statements of operations and comprehensive loss.                                    
Stanford [Member] | Katexco [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Option payment                                                                                               $ 10,000
license maintenance fee                                                           $ 20,000                                    
Anniversaries amount                                                           $ 40,000                                    
Shares issues (in Shares) | shares                                           1,886                                                    
Percentage of consultant additional bonus                                           19.00%                                                    
Yissum [Member] | CBR [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Underwriting commitments, description                                 Royalties will be payable to Yissum if sales of any products which use, exploit or incorporate technology covered by the Licensed Patents (“Net Sales”) are US $500,000,000 or greater, calculated at 3% for the first annual $500,000,000 of Net Sales and at 5% of Net Sales thereafter. Pursuant to the Yissum Agreement, if Yissum achieves the following milestones, CBR Pharma will be obligated to make the following payments:i) $75,000 for successful point of care in animals;ii) $75,000 for submission of the first investigational new drug testing;iii) $100,000 for commencement of one phase I/II trial;iv) $150,000 for commencement of one phase III trial;v) $100,000 for each product market authorization/clearance (maximum of $500,000); andvi) $250,000 for every $250,000,000 in accumulated sales of the product until $1,000,000,000 in sales is achieved.                                                              
Consultants amount                                 $ 100,000                                                              
First amendment company paid                                                                                             $ 200,000  
Additional consulting percentage                                                                                             35.00%  
Non-refundable license fees                                                                   $ 70,000                            
Aggregate fees                                                                   398,250                            
Annual license maintenance fee                                                                   25,000                            
Oxford [Member] | CBR [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                                                       On September 18, 2020, CBR Pharma entered into a 3 year research and development agreement (the “3 Year Oxford Agreement”) with Oxford to research and investigate the mechanisms underlying fibrosis in exchange for aggregate consideration of $1,085,738 (£795,468), of which $109,192 (£80,000) is to be paid 30 days after the project start date and the remaining amount is to be paid in four equal installments of $244,136 (£178,867) on the six month anniversary and each of the annual anniversaries of the project start date. The agreement can be terminated by either party upon written notice or if the Company remains in default on any payments due under this agreement for more than 30 days. During the year ended December 31, 2022 and 2021, the Company recognized $322,767 (£265,156) and $364,673 (£264,938), respectively, of research and development expenses in connection with the 3 Year Oxford Agreement.On September 21, 2020, CBR Pharma entered into a 2 year research and development agreement (the “2 Year Oxford Agreement”) with Oxford University for the clinical development of cannabinoid drugs for the treatment of inflammatory diseases in exchange for aggregate consideration of $625,124 (£458,000), of which $138,917 (£101,778) is to be paid 30 days after the project start date and the remaining amount is to be paid every 6 months after the project start date in 4 installments, whereby $138,917 (£101,778) is to be paid in the first 3 installments and $69,456 (£50,888) is to be paid as the final installment. The agreement can be terminated by either party upon written notice or if the Company remains in default on any payments due under this agreement for more than 30 days. During the years ended December 31, 2022 and 2021, the Company recognized $123,891 (£101,778) and $139,977 (£101,778) of research and development expenses, respectively, in connection with the 2 Year Oxford Agreement, which is reflected within accrued expenses on the accompanying consolidated balance sheet.                                        
Evotec [Member] | Katexco [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Research and development expenses                                                                   10,581                            
Kennedy [Member] | LP [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Related party transaction, description                                   (i) 1% of the net sales for the first annual GBP £1 million (USD $1,283,400) of net sales, and (ii) 2% of the net sales after the net sales are at or in excess of GBP £1 million, as well as 25% of all sublicense revenue, provided that the amount of such percentage of sublicense revenue based on amounts which constitute royalties shall not be less than 1% on the first cumulative GBP £1 million of net sales of the products sold by such sublicenses or their affiliates, and 2% on that portion of the cumulative net sales of the products sold by such sublicenses or their affiliates in excess of GBP £1 million.The term of the royalties paid by the Company to Kennedy will expire on the later of (i) the last valid claim of a patent included in the Kennedy Licensed Patents which covers or claims the exploitation of a product in the applicable country; (ii) the expiration of regulatory exclusivity for the product in the country; or (iii) 10 years from the first commercial sale of the product in the country. The Kennedy License Agreement may be terminated without cause by providing a 90-day notice.                                                            
Upfront fee paid for intangible assets                                                 $ 74,000 € 60,000                                            
Pharmaceutical [Member] | LP [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Negotiation provide                                                     $ 1,200,000                                          
Research agreement                               $ 1,200,000                                                                
Phamaceutical agreement                               900,000                                                                
One year agreement                               $ 300,000                                                                
Bad debt expense                                                                         $ 300,000                      
EarlyBird Finder’s Fee [Member] | KBL [Member]                                                                                                
Commitments and Contingencies (Details) [Line Items]                                                                                                
Percentage of cash payable                                                                               35000.00%                
Cash payments                                                                   $ 13,750                            
Common stock term                                                                   10 years 10 years 10 years