XML 27 R15.htm IDEA: XBRL DOCUMENT v3.21.2
LEASE
6 Months Ended
Jun. 30, 2021
Lease  
LEASE

NOTE I - LEASE

 

In December 2018, the Company entered into a three (3) year lease for an office and manufacturing facility located at 821 NW 57th Place, Fort Lauderdale, FL 33309. The lease is $4,839 per month, which includes common area maintenance, taxes and insurance and expires on October 31, 2021. The lease has a one-time renewal option for three years and an increased base rent of 3%. The Company has the option to terminate the lease with three months’ notice. The Company accounts for lease in accordance with ASC Topic 842.   

 

For the three months ended June 30, 2021 and 2020, the total lease cost was $20,126 and $19,510, respectively, which includes variable lease cost of $5,798 and $4,771, respectively. Variable lease cost primarily relates to common area maintenance, property taxes and insurance on leased real estate. For the six months ended June 30, 2021 and 2020, the total lease cost was $40,440 and $39,020, respectively, which includes variable lease cost of $9,064 and $9,541, respectively. For the six months ended June 30, 2021 and 2020, cash paid for operating lease liabilities was $22,596 and $29,032, respectively.