EQUTY INVESTMENT (Details Narrative) - USD ($) |
1 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|
Dec. 18, 2018 |
Mar. 31, 2020 |
Mar. 31, 2019 |
Dec. 31, 2019 |
|
| SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE | $ (293,000) | $ (96,000) | ||
| Equity Method Goodwill | 5,000,000 | |||
| ILiAD [Member] | ||||
| Advisory and legal expenses | $ 41,000 | |||
| ILiAD [Member] | Warrant [Member] | ||||
| Units purchase | 366,666 | |||
| Price per unit | $ 2.75 | |||
| ILiAD [Member] | Tranche One [Member] | ||||
| Initial investment | $ 2,500,000 | |||
| Description for the terms of allowed-to-proceed notice under aggrement | May 2, 2019 that it had received an “allowed to proceed” notice from the FDA permitting ILiAD to advance to the Phase 2b clinical study of its BP2E1 vaccine. ILiAD elected to permit its Class C investors (including the Company) to bifurcate their tranche 2 commitment such that 40% would be currently due ($1,000,000 paid by the Company on May 6, 2019) and 60% (additional $1,500,000 investment by the Company) would be due when ILiAD received satisfactory safety data from the clinical study. On August 9, 2019, ILiAD notified the Company that the FDA has allowed Phase 2b to proceed to full enrollment based on satisfactory safety data from the first phase of the clinical study which triggered the Company’s additional $1,500,000 investment. In April 2020, ILiAD advised its equity holders, including the Company, that it had received results from the Phase 2b study of BPZE1 which indicated excellent safety and colonization results. ILiAD further advised that it does not yet have final results for immunological data as certain aspects of laboratory assays (tests to measure antibodies) require further analysis. At March 31, 2020, the Company owned approximately 9.5% of the outstanding units of ILiAD (on a non-fully diluted basis). | |||
| ILiAD [Member] | Tranche Two [Member] | ||||
| Initial investment | $ 2,500,000 | |||
| ILiAD [Member] | Class C units [Member] | ||||
| Ownership percentage | 9.50% | 10.30% | ||
| ILiAD [Member] | Class C units [Member] | Tranche One [Member] | ||||
| Units purchase | 1,111,111 | |||
| Price per unit | $ 2.25 | |||
| ILiAD [Member] | Class C units [Member] | Tranche Two [Member] | ||||
| Units purchase | 943,396 | |||
| Price per unit | $ 2.65 | |||
| Warrants to purchase units | 311,320 | |||
| Exercise price | $ 3.50 | |||
| ILiAD [Member] | Maximum [Member] | ||||
| Company total investment | $ 5,000,000 | |||
| ILiAD [Member] | Maximum [Member] | Class C units [Member] | ||||
| Total offering | $ 16,200,000 | |||