On April 25, 2018, the Israel Innovation Authority (“IIA”) notified the Company of the IIA’s expected payment of the final installment of approximately $1,000 under the 2016 and 2017 IIA grants. Upon receipt of payment the Company will have received approximately $2,100 pursuant to the 2016 and 2017 IIA grants.

 

On April 30, 2018, the Company received payment of $2,000 from CIRM under the existing CIRM grant. To date the Company has received $9,050 of the $15,092 CIRM grant.

 

Total cash on hand and cash commitments as of April 30, 2018 totaled $7,650.

 

In accordance with ASC 855 “Subsequent Events” the Company evaluated subsequent events through the date the condensed consolidated financial statements were issued. The Company concluded that no other subsequent events have occurred that would require recognition or disclosure in the condensed consolidated financial statements.