NEXGEL, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

Related Party Transactions	12 Months Ended
Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	16. Related Party Transactions Convertible Promissory Note On December 24, 2020, the Company issued two Secured Convertible Promissory Notes in an aggregate amount of $100,000 to Mr. Stein, a member of the board of directors and an entity affiliated to Mr. Stein, N&F Trust 774 (See Note 12). The notes were repaid in March, 2021. On September 2, 2021, the Company issued three Secured Convertible Promissory Notes to members of the board of directors in an aggregate amounts of $150,000 to Mr. Stein, $150,000 to Mr. Stefansky (Bezalel Partners, LLC), and $50,000 to Dr. Zeldis as part of the September 2 Notes. The notes were repaid in full in 2022 (See Note 12). Advances Dr. Jerome Zeldis, a member of the Company board of directors, has an outstanding balance due of $40,000 for services as of December 31, 2022 and 2021, included in accounts payable in the accompanying consolidated balance sheets.

Related Party Transactions

12 Months Ended

Dec. 31, 2022

16. Related Party Transactions

Convertible Promissory Note

On December 24, 2020, the Company issued two Secured Convertible Promissory Notes in an aggregate amount of $100,000 to Mr. Stein, a member of the board of directors and an entity affiliated to Mr. Stein, N&F Trust 774 (See Note 12). The notes were repaid in March, 2021.

On September 2, 2021, the Company issued three Secured Convertible Promissory Notes to members of the board of directors in an aggregate amounts of $150,000 to Mr. Stein, $150,000 to Mr. Stefansky (Bezalel Partners, LLC), and $50,000 to Dr. Zeldis as part of the September 2 Notes. The notes were repaid in full in 2022 (See Note 12).

Advances

Dr. Jerome Zeldis, a member of the Company board of directors, has an outstanding balance due of $40,000 for services as of December 31, 2022 and 2021, included in accounts payable in the accompanying consolidated balance sheets.