Annual report pursuant to Section 13 and 15(d)

Commitments And Contingencies (Tables)

v3.19.1
Commitments And Contingencies (Tables)
12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Long-term Purchase Commitment
As of December 31, 2018, future minimum purchase obligations and future minimum royalty payments to Lachlan are as follows:

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2019*
 
2020*
 
2021
 
2022
 
Total*
 
 
 
 
 
 
 
 
 
 
 
Minimum Purchase Obligations
 
1,257,326
 
1,265,378
 
 
 
$2,522,704
Minimum Royalties
 
3,000,000
 
3,000,000
 
 
 
6,000,000
     Total
 
4,257,326
 
4,265,378
 
 
 
$8,522,704

*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 lease obligations
As of December 31, 2018, minimum operating lease obligations for the new office space are as follows:
 
 
 
 
 
Minimum Lease Payments
2019
 
$

2020
 
155,815

2021
 
169,510

2022
 
173,748

2023
 
178,092

Thereafter
 
1,183,290

Total
 
$
1,860,455