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Note 13 - Commitments and Contingencies
3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

NOTE 13: COMMITMENTS AND CONTINGENCIES

 

Lease Commitments

 

The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at present value of lease payments not yet paid, using a discounted cash flow model that requires the use of a discount rate, or incremental borrowing rate. Lease terms of 12 months or less are considered short term operating leases and no asset or liability is recognized.

 

Our office lease expired February 28, 2022. In  March 2022, the Company entered into a new operating lease for office space to pay monthly rent of $1 for a term of 12 months. The Company had lease expense under short term leases of $8 and $5 during the three months ended March 31, 2022, and 2021, respectively.  As of March 31, 2022, and December 31, 2021, the right of use asset and lease liability balances were $0.

 

Litigation and Contingencies

 

We are subject to legal proceedings and claims that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not have a material effect, individually or in the aggregate, on our financial position, results of operations or cash flows.