XML 22 R13.htm IDEA: XBRL DOCUMENT v3.22.0.1
Note 7 - Commitments
12 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Commitments Disclosure [Text Block]

7.

Commitments

 

On January 3, 2014, we entered into a commercial lease agreement (the “Lease”) with 1450 West Peachtree, LLC, a Georgia limited liability company (the “Landlord”), for the lease of our corporate facility in Atlanta, Georgia. The manager of the Landlord is also our chief executive officer. The term of the lease is 10 years from the date of the agreement and provides for monthly rent and payment of operating expenses on a triple-net basis. The monthly rent terms of the lease have been altered by the landlord due to another tenant occupying space the Company verbally agreed to allow the landlord to remove from the space available to the company. During the fiscal year ended September 30, 2021, and 2020, we made lease payments of $120,000 and $120,000, respectively, in satisfaction of our obligation pursuant to the Lease.

 

The Lease provides for the following total lease commitments pursuant to the Lease and we have also provided our expected portion of the lease commitments based on the updated verbal agreement with the landlord:

 

Fiscal Years Ending September 30,

 

Total Lease

Commitment

  

Expected Lease

Commitment

 

2022

 $363,000  $120,000 

2023

  384,000   120,000 

2024

  97,500   30,000 
  $844,500  $270,000