Related Parties |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Related Parties | |
| Related Parties | 9. Related Parties
Consulting Agreement
On September 19, 2023, the Company’s Bioprocessing System segment entered into a one year consulting agreement with John Nicols, a Director of the Company, with automatic renewals, unless either party gives a thirty-day notice. The agreement provided that the consultant be paid a monthly retainer fee of $8,000 and issued 35,000 stock options which vested monthly over a one year period, valued at $114,700 on the grant date using the Black-Scholes-Merton option pricing model. For each of the years ended December 31, 2025 and 2024, the Company paid fees under the consulting agreement of $96,000, respectively. |