Quarterly report pursuant to Section 13 or 15(d)

Commitments And Contingencies - (Tables)

v3.10.0.1
Commitments And Contingencies - (Tables)
9 Months Ended
Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
Long-term Purchase Commitment
As of September 30, 2018, future minimum purchase obligations and future minimum royalty payments to Lachlan are as follows:

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q4 2018*
2019*
2020*
2021
2022
Total*
 
 
 
 
 
 
 
 
Minimum Purchase Obligations
 
$
312,501

1,257,326

1,265,378

$2,835,205
Minimum Royalties
 
750,000

3,000,000

3,000,000

6,750,000
     Total
 
$
1,062,501

4,257,326

4,265,378

$
9,585,205


*Per the TRx Purchase Agreement, the previous owners of TRx are required to indemnify the Company for 50% of post-acquisition Ulesfia losses, which include the future minimum purchase obligations and future minimum royalties disclosed above. Thus, the Company's future net payouts related to the Ulesfia product will be significantly reduced as a result of the indemnification.
Schedule of Future Minimum Rental Payments for Operating Leases
As of September 30, 2018, minimum operating lease obligations for the new office space are as follows:
 
 
 
 
 
 
 
 
Minimum Lease Payments
 
 
 
2019
 
$

2020
 
138,094

2021
 
169,165

2022
 
173,394

2023
 
177,729

Thereafter
 
1,198,161

Total
 
$
1,856,543