Quarterly report pursuant to Section 13 or 15(d)

Related Parties

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Related Parties
6 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
Related Parties

Note 8 – Related Parties

 

SRQ Patent Holdings and SRQ Patent Holdings II

 

MyMD is a party to two Amended and Restated Confirmatory Patent Assignment and Royalty Agreements, both dated November 11, 2020, with SRQ Patent Holdings and SRQ Patent Holdings II, under which MyMD (or its successor) will be obligated to pay to SRQ Patent Holdings or SRQ Patent Holdings II (or its designees) certain royalties on product sales or other revenue received on products that incorporate or are covered by the intellectual property that was assigned to MyMD. The royalty is equal to 8% of the net sales price on product sales and, without duplication, 8% of milestone revenue or sublicense compensation. SRQ Patent Holdings and SRQ Patent Holdings II are affiliates of Mr. Jonnie Williams, Sr. No revenue has been received subject to these agreements as of June 30, 2023 and 2022.