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6. COMMITMENTS AND CONTINGENCIES
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

6.       COMMITMENTS AND CONTINGENCIES

 

Office leases – The Company has a seven-month operating lease for office space that expires April 30, 2020. The monthly lease payment approximates $19,000 per month. Lease payments plus common area maintenance fees for the year ended December 31, 2019 and 2018 approximated $224,000 and $216,000, respectively.

 

The Company has an operating lease for an office space under construction. The Company expects the lease to become effective in the second quarter of 2020. The lease will expire ten years from the effective date and will allow for two optional extensions of 5 years each. Lease payments will be $48,000 per month.

 

Data Center Lease – The Company leases space on a monthly basis for its data centers in Nevada under a co-location agreement. The agreement provides for lease payments of approximately $7,000 per month.

 

Pending of threatened litigation – We may become involved in litigation from time to time in the ordinary course of business. However, at December 31, 2019, to the best of our knowledge, no such litigation exists or is threatened. See Note 9 for subsequent events.