XML 19 R10.htm IDEA: XBRL DOCUMENT v3.22.2.2
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 5. Commitments and Contingencies

 

Lease Commitments

 

The Company leases office space under a non-cancellable 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 September 30, 2022 and 2021, respectively, and $60,000 for each of the nine months ended September 30, 2022 and 2021, respectively. As of September 30, 2022, our right of use asset was approximately $36,000.

 

The following table presents the future operating lease payment as of September 30, 2022:

 

      
2022 (three months remaining)  $20,000 
2023   20,000 
Total lease payments   40,000 
Less: imputed interest   (1,000)
Total lease liability  $39,000 

 

Legal Proceedings

 

As described in Note 1, the Company has filed a lawsuit against its co-manufacturer, Schreiber Foods, Inc., the outcome of which cannot be predicted at this time.

 

From time to time, various lawsuits and legal proceedings may arise in the ordinary course of business. 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.