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Deferred Compensation
3 Months Ended
Mar. 31, 2020
Compensation Related Costs [Abstract]  
Deferred Compensation

12. Deferred Compensation

 

Pursuant to the Company’s employment agreements with the founders, the founders have earned incentive compensation totaling $104,120 and $117,166 in cash, as of March 31, 2020 and December 31, 2019, respectively, which payment obligation has been deferred by the Company until it reasonably believes it has sufficient cash to make the payment. Following the retirement of founder A. Michael Chretien on December 8, 2017, the Company expects to make bi-weekly payments of $1,846 until his portion of the deferred compensation has been paid, which will comprise 61 full payments and one partial payment of $1,569. For the three months ended March 31, 2020 and 2019, the Company paid $13,046 and $11,077, respectively, which is reflected as a reduction in the deferred compensation liability.