Quarterly report pursuant to Section 13 or 15(d)

Animal Health License Agreements (Tables)

v3.7.0.1
Animal Health License Agreements (Tables)
6 Months Ended
Jun. 30, 2017
Animal Health License Agreements [Abstract]  
Schedule of Current and Long-Term Deferred Revenues
A tabular summary of the revenue categories and cumulative amounts of revenue recognition associated with the License Agreement follows:

Category
 
Totals
 
License fees and milestone amounts paid / achieved
 
$
1,920,000
 
Third party obligations recorded, including WU
   
(363,700
)
Deferred revenue balance
   
1,556,300
 
Revenue amortization to June 30, 2017
   
(442,635
)
Net deferred revenue balance at June 30, 2017
 
$
1,113,665
 

Commencement of license fees revenue recognition
Upon signing or receipt
 
Commencement of milestone revenue recognition
Upon milestone achievement over then remaining life
 
Original amortization period
197 months