Quarterly report pursuant to Section 13 or 15(d)

Animal Health License Agreements (Tables)

v3.4.0.3
Animal Health License Agreements (Tables)
3 Months Ended
Mar. 31, 2016
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 March 31, 2016
   
(321,762
)
         
Net deferred revenue balance at March 31, 2016
 
$
1,234,538
 
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