v3.26.1
COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE 15– COMMITMENTS AND CONTINGENCIES

 

Leases

 

Currently, the Company is leasing the office located at 29397 Agoura Road, Suite 107, Agoura Hills, CA 91301 on a month-to-month basis until such time a new office is identified. The Company believes the office is sufficient for its current operations.

 

PointR Merger Consideration

 

The total purchase price in the PointR Merger of $17,831,427 included $2,625,000 of contingent consideration of shares issuable to PointR shareholders, upon achievement of certain milestones. For more information on the PointR Merger Contingent Consideration, refer to our 2025 Annual Report on Form 10-K filed with the SEC on April 15, 2026.

 

Autotelic Asset Transfer Consideration

 

As noted in Note 9 – Lunai Bioworks Transactions, Oncotelic Inc. on behalf of the Company, and Autotelic entered into the Asset Transfer Agreement, pursuant to which Autotelic agreed to transfer all the rights, title and interest to certain Assets In consideration for the transfer of the Assets, the Company shall issue equity of ten percent (10%) of the fully diluted outstanding shares of the Company, issuable on an uplisting of its capital stock to NYSE/NASDAQ. Such shares of the Company have not been issued to Autotelic as of the date of this filing and are not due to be issued till the uplisting of the Company’s stock onto a nationally recognized stock exchange. If the uplisting does not occur, then the shares would not be issuable and neither would the transaction with Lunai be invalidated. For more information, refer to Note 9 – Lunai Bioworks Transactions.

 

 

Other claims

 

From time to time, the Company may become involved in in legal proceedings, claims and regulatory matters arising in the ordinary course of business. Such matters are subject to uncertainties, and outcomes are not predictable with assurance. As of June 30, 2026, the Company was not a party to any legal proceedings, and management is not aware of any pending or threatened claims or contingencies that, individually or in the aggregate, are probable of resulting in a material loss to the Company’s unaudited condensed consolidated financial statements. Accordingly, no accrual for loss contingencies has been recorded as of June 30, 2026.