Notes to SEFA
Title: Basis of Presentaon
Accounting Policies: Accrual Basis
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
grant activity of POP Biotechnologies Inc. (the Company) and is presented on the accrual basis of
accounting. The information on the Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). For purposes of
the Schedule, federal awards include any assistance provided by a federal agency directly or
indirectly in the form of grants, contracts, cooperative agreements, loan and loan guarantees, or
other non-cash assistance. In accordance with applicable requirements, certain programs may be
presented in a fiscal period based on the program-specific guidance (see Note 4). Therefore, some
amounts presented in the accompanying Schedule may differ from amounts presented in, or used
in the preparation of, the consolidated financial statements of the Company.
Direct and indirect costs are charged to awards in accordance with cost principles contained in the
United States Department of Health and Human Services (HHS) Cost Principles for Determining
Costs Applicable to Research and Development Under Grants and Contracts with Hospitals at 45
CFR Part 75 Appendix IX for awards subject to the Uniform Guidance. Under these cost principles,
certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Accrual Basis
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Uniform Guidance provides for a 10% de minimis indirect cost rate election; however, the
Company did not make this election
Title: Chemotherapy with Light-Activated Nanoparticulate Doxorubicin
Accounting Policies: Accrual Basis
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
During the year ended December 31, 2023, the Company parcipated in Cancer research (Federal
Assistance Listing Number 93.395) through subcontracts with subrecipients. HHS, the federal
agency that sponsors this program, has determined that the money to subrecipients should
considered Federal Expenditures and, therefore, should be reported as federal awards received.
Thus, the amount passed through to subrecipients was reported as Federal Expenditures on the
Schedule of Expenditures of Federal Awards