| Summary of related party |
| | | Related Parties | | Relationship | | | | Dr. Anil Diwan | | Chairman, President, CEO, significant stockholder through his ownership of TheraCour, and Director | | | | TheraCour Pharma, Inc. (“TheraCour”) | | An entity owned and controlled by Dr. Anil Diwan | | | | Karveer Meditech Private Limited (“KMPL”) | | An entity where Dr. Anil Diwan is a passive investor and advisor without operating control | | | | Meeta Vyas | | Chief Financial Officer, does not claim beneficial ownership of of stock through her husband Dr. Anil Diwan |
Property and Equipment | | | | | | | | | For the Year Ended | | | June 30, 2026 | | June 30, 2025 | During the reporting period, TheraCour acquired property and equipment on behalf of the Company from third party vendors and transferred such property and equipment, at cost, to the Company. | | $ | 6,250 | | $ | 46,764 |
Accounts Payable- Related Party- TheraCour | | | | | | | | | As of | | | June 30, 2026 | | June 30, 2025 | Pursuant to an Exclusive License Agreement entered into with TheraCour, the Company was granted exclusive licenses for technologies developed by TheraCour for the virus types: HIV, HCV, Herpes, Asian (bird) flu, Influenza and rabies. On November 1, 2019, the Company entered into the VZV Licensing Agreement with TheraCour. In consideration for obtaining these exclusive licenses it was agreed: (1) that TheraCour can charge its costs (direct and indirect) plus no more than 30% of certain direct costs as a development fee and such development fees shall be due and payable in periodic installments as billed, (2) the Company will pay $2,000 or actual costs each month, whichever is higher for other general and administrative expenses incurred by TheraCour on the Company’s behalf, (3) to make royalty payments of 15% (calculated as a percentage of net sales of the licensed drugs) to TheraCour and; (4) to pay an advance payment equal to twice the amount of the previous months invoice to be applied as a prepayment towards expenses. On February 12, 2024, TheraCour and the Company agreed to suspend the license requirement for a two month advance until the Company raises sufficient capital, therefore no advance offset of the accounts payable due TheraCour at June 30, 2026 and at June 30, 2025. Accounts payable due TheraCour at June 30, 2026 includes Accounts payable of $237,367 due KMPL which has been transferred to TheraCour in satisfaction of disbursements made by TheraCour on behalf of KMPL. | | $ | 828,577 | | $ | 584,089 | | | | | | | | Accounts Payable - Related Party-KMPL | | | | | | | | | | | | | | KMPL has retained a local clinical research organization (CRO) to conduct the clinical trials. The Phase1 human clinical trial of NV-CoV-2 began in India on June 17, 2023. Under the agreement with KMPL, the Company agreed to pay for the expenses of the clinical trials, and in return will benefit from having the data and reports made available for regulatory filings in other territories of the world. KMPL instructed the Company, with respect to the amounts owed to KMPL totalling approximately $237,000, to remit such amounts to Theracour in place of its obligation to KMPL. Accordingly, the Company has reduced its obligation to KMPL and increased its obligation to Theracour by approximately $237,000. | | $ | — | | $ | 237,367 |
Research and Development Costs - Related Party | | | | | | | | | For the Year Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | Development fees and other costs charged by TheraCour pursuant to the Exclusive License Agreements between TheraCour and the Company for the development of the Company’s drug pipeline. No royalties are due TheraCour from the Company at June 30, 2026 and 2025. | | $ | 1,994,543 | | $ | 2,490,274 |
Clinical Trial Costs - Related Party | | | | | | | | | For the Year Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | Clinical trial related and other costs were charged by KMPL pursuant to the license agreement between the Company and KMPL for the clinical trial related costs that have been incurred for Phase 1a/1b clinical trials in India as of June 30, 2026. On May 26, 2026 KMPL invoiced and the Company paid an advance payment under the Covid Phase 1 Budget provisions of $299,130. $43,610 was expensed to Clinical Trial Cost – Related Party. The remainder was recorded as a prepaid expense. Additional charges may follow upon reconciliation of the budgetary provisions and actual expenditures. | | $ | 43,610 | | $ | 9,932 |
|