Other Post-Retirement Benefit Plan

3 Months Ended

Mar. 31, 2023

Other Post-Retirement Benefit Plan [Abstract]

OTHER POST-RETIREMENT BENEFIT PLAN

NOTE 7 - OTHER POST-RETIREMENT BENEFIT PLAN

Relmada participates in a multiemployer 401(k) plan that permits eligible employees to contribute funds on a pretax basis subject to maximum allowed under federal tax provisions. The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%.

The employees choose an amount from various investment options for both their contributions and the Company’s matching contribution. The Company’s contribution expense was approximately $40,400 and $31,600 for the three months ended March 31, 2023 and 2022, respectively.