OTHER RELATED PARTY TRANSACTIONS |
6 Months Ended |
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Oct. 31, 2024 | |
| Related Party Transactions [Abstract] | |
| OTHER RELATED PARTY TRANSACTIONS |
NOTE 7 – OTHER RELATED PARTY TRANSACTIONS
The Company had the following related party transactions during the three and six months ended October 31, 2024 and 2023, respectively.
The Company owns 13.9% of the equity in SG Austria which is presented using the alternative allowed under ASC 321 - Investments Equity Securities with no readily determinable values. SG Austria has two subsidiaries: (i) Austrianova; and (ii) Austrianova Thailand. The Company purchased products and services from these subsidiaries in the approximate amounts of $0 in the three and six months ended October 31, 2024, and 2023, respectively. The investment in SG Austria was fully impaired as of April 30, 2024.
In April 2014, the Company entered the Vin-de-Bona Consulting Agreement pursuant to which it agreed to provide professional consulting services to the Company. Vin-de-Bona is owned by Prof. Günzburg and Dr. Salmons, both of whom are involved in numerous aspects of the Company’s scientific endeavors relating to cancer (Prof. Günzburg is the Chairman of Austrianova, and Dr. Salmons is the Chief Executive Officer and President of Austrianova). The term of the agreement is for 12 months and is automatically renewable for successive 12-month terms. After the initial term, either party can terminate the agreement by giving the other party 30 days’ written notice before the effective date of termination. To date, the agreement has been automatically renewed annually. The amounts incurred for the three and six months ended October 31, 2024, were approximately $2,670 and $5,280 and $2,590, respectively, and $2,700 for the three and six months ended October 31, 2023, respectively.
The Company’s Interim Chief Executive Officer was appointed to the Femasys board of directors, see Note 3.
The Company’s Interim Chief Executive Officer serves on the board of directors of TNF, see Note 13.
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