NOTE 4 - DEFERRED R&D OBLIGATIONS - PARTICIPATION AGREEMENTS

For the three months ended June 30, 2024 and 2023, the Company recognized $0 and $309,400, respectively, as a contra R&D expense related to personnel and third-party expenses to develop the subject technology, respectively. For the three months ended June 30, 2024 and 2023, $0 and $77,391, respectively, of this total contra R&D expense was attributed to deferred R&D obligations funded by related parties.  

For the six months ended June 30, 2024 and 2023, the Company recognized $0 and $434,430, respectively, as a contra R&D expense related to personnel and third-party expenses to develop the subject technology, respectively. For the six months ended June 30, 2024 and 2023, $0 and $108,665, respectively, of this total contra R&D expense was attributed to deferred R&D obligations funded by related parties.