NOTE 4 - DEFERRED R&D OBLIGATIONS - PARTICIPATION AGREEMENTS

For the three months ended September 30, 2024, and 2023, the Company recognized $0 and $189,680, 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 September 30, 2024, and 2023, $0 and $47,445, respectively, of this total contra R&D expense was attributed to deferred R&D obligations funded by related parties.  

For the nine months ended September 30, 2024, and 2023, the Company recognized $0 and $624,110, respectively, as a contra R&D expense related to personnel and third-party expenses to develop the subject technology, respectively. For the nine months ended September 30, 2024, and 2023, $0 and $156,027, respectively, of this total contra R&D expense was attributed to deferred R&D obligations funded by related parties.