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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | NOTE 10—COMMITMENTS AND CONTINGENCIES On August 19, 2019, OmniMetrix entered into an agreement with a software development partner to create and license to OmniMetrix a new software platform and application. Pursuant to this agreement, OmniMetrix will pay the partner equal monthly payments over the first seven months of the term of the agreement equal to $200 in the aggregate. In addition, OmniMetrix will pay the partner a sensor monitoring fee equal to the greater of (i) $1 per sensor connected to the developed technology, or (ii) 25% of any revenue received above $10 per sensor monitored per month in oil and gas applications only. Commencing on the first anniversary of the agreement, OmniMetrix will pay the partner an annual licensing fee of $50 to be paid out on a monthly or quarterly basis as determined by OmniMetrix.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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