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Commitments and Contingencies
3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 5. Commitments and Contingencies

 

The Company leases office space under a non-cancelable operating lease which expires on March 31, 2023. Our periodic lease cost was approximately $20,000 for each of the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, our right of use asset was $70,176.

 

 

The following table presents the future operating lease payment as of March 31, 2022.

 

      
2022 (nine months remaining)  $60,713 
2023   20,238 
Total lease payments   80,951 
Less: imputed interest   (4,220)
Total lease liability  $76,731 

 

From time to time, various lawsuits and legal proceedings may arise in the ordinary course of business. However, litigation is subject to inherent uncertainties and an adverse result in these, or other matters may arise from time to time that may harm our business. The Company is currently the defendant in one legal proceeding for an amount less than $100,000. Our legal counsel and management believe a material unfavorable outcome to be remote.