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Short-Term Debt
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
SHORT-TERM DEBT

NOTE 6 – SHORT-TERM DEBT

 

Financing Agreement

 

On February 19, 2020, the Company entered into a nine month financing agreement with AFCO Credit Corporation for its directors and officers ("D&O") liability insurance in the amount of $2,225. The Company made a down payment of $556, leaving a principal balance of $1,669. The financing bore interest at a rate of 4.25% per annum, and was repaid in monthly installments of $189, which included both principal and interest. As of December 31, 2020, the balance under this debt was $0. The Company recorded interest expense of $34 for the year ended December 31, 2020 under this financing agreement.