Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

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Related Party Transactions
9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions

 

7. Related Party Transactions

 

During the nine months ended September 30, 2024 and 2023, we made payments related to legal and consulting fees of approximately $11,138 and approximately $100,000, respectively, to a law firm operated by one of our Board members.

 

During the nine months ended September 30, 2024, we made payments totaling $13,947 on behalf of BSKE, a related party. This amount is recorded as a receivable on the condensed balance sheet as of September 30, 2024 and is expected to be repaid under standard terms.

 

In August 2023, we received $500,000 in funding in exchange for the issuance of the Hau Promissory Note. In March 2024, the Hau Promissory Note, along with accrued interest of approximately $4,511, was converted into 54,132 shares of our common stock (see Note 6. Stockholders’ Equity).