Commitments

9 Months Ended

Sep. 30, 2023

Commitments

Commitments

Note 9 – Commitments

a. Leases – The lease for our corporate office located at 340 Madison Avenue, New York, New York expires on March 31, 2025.  Rent expense paid for this operating lease was approximately $118,000 for each of the three months ended September 30, 2023 and 2022, respectively, and approximately $348,000 for each of the nine months ended September 30, 2023 and 2022, respectively.  The remaining cash lease obligation, excluding any extension options, for our corporate office is approximately $704,000 through March 31, 2025 and is as follow (in thousands):  

	Future
	Minimum
Year Ended	Rentals
2023	$	118
2024		470
2025		116
Total undiscounted lease payments	$	704
Discount		12
Lease Liability	$	716

b. Legal Proceedings – In the normal course of business, we are party to routine legal proceedings. Based on advice of counsel and available information, including current status or stage of proceeding, and taking into account accruals where they have been established, management currently believes that any liabilities ultimately resulting from litigation we are currently involved in will not, individually or in the aggregate, have a material adverse effect on our consolidated financial position, results of operations or liquidity.