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NOTE PAYABLE	9 Months Ended
Sep. 30, 2022
Note Payable
NOTE PAYABLE	NOTE 6 – NOTE PAYABLE On August 28, 2022, the Company entered into a one-year Directors and Officers Liability Insurance agreement for $318,833. Under the terms of the agreement, the Company made a down payment of $41,730, with the remaining balance financed over the remaining term at an annual percentage rate of 5.05%. Beginning in September 2022, the Company is making 10 monthly payments of $27,710, with the last payment expected to be made in June 2023. At September 30, 2022, the outstanding balance on the note payable was $277,103. The interest expense for the three and nine months ended September 30, 2022 was immaterial to the consolidated financial statements.

NOTE PAYABLE

9 Months Ended

Sep. 30, 2022

NOTE 6 – NOTE PAYABLE

On August 28, 2022, the Company entered into a one-year Directors and Officers Liability Insurance agreement for $318,833. Under the terms of the agreement, the Company made a down payment of $41,730, with the remaining balance financed over the remaining term at an annual percentage rate of 5.05%. Beginning in September 2022, the Company is making 10 monthly payments of $27,710, with the last payment expected to be made in June 2023. At September 30, 2022, the outstanding balance on the note payable was $277,103. The interest expense for the three and nine months ended September 30, 2022 was immaterial to the consolidated financial statements.