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Commitments and Contingencies
 9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 9. Commitments and Contingencies

 

We lease office space under a non-cancelable operating lease which expires on June 30, 2023. Our periodic lease cost and operating cash flow was $19,813 and $19,609 for the three months ended September 30, 2020 and 2019, respectively. Our periodic lease cost and operating cash flow was $59,657 and $70,422 for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, our right of use asset and related liability was $162,319 and $174,025.

  

In determining the present value of our operating lease right-of-use asset and liability, we used a 10% discount rate (which approximates our borrowing rate). The remaining term on the lease is 3 years.

 

The following table presents the future operating lease payment as of September 30, 2020.

 

2020 (three months remaining)   $ 19,076  
2021     78,021  
2022     80,361  
2023     20,237  
Total Lease payments     197,695  
Less: imputed interest     (23,670 )
Total lease liability   $ 174,025