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Commitments and Contingencies
 6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 5. Commitments and Contingencies

 

The Company leases office space under a non-cancelable operating lease which expires on March 31, 2023. The Company’s periodic lease cost was approximately $20,000 for each of the three months ended June 30, 2022 and 2021, respectively, and $40,000 for each of the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, our right of use asset was approximately $53,000.

  

The following table presents the future operating lease payment as of June 30, 2022.

      
2022 (six months remaining)  $40,000 
2023   20,000 
Total lease payments   60,000 
Less: imputed interest   (2,000)
Total lease liability  $58,000 

 

From time to time, various lawsuits and legal proceedings may arise in the ordinary course of business. However, litigation is subject to inherent uncertainties and an adverse result in these, or other matters may arise from time to time that may harm our business. The Company is currently the defendant in one legal proceeding for an amount less than $100,000. Our legal counsel and management believe a material unfavorable outcome to be remote.