XML 28 R16.htm IDEA: XBRL DOCUMENT

Leases

9 Months Ended

Sep. 30, 2021

10. LEASES

The Company’s noncancelable operating leases consist of leases for office spaces. The Company is the lessee under the terms of the operating leases. For the nine months ended September 30, 2021, the operating lease cost was $0.16 million.

The Company’s operating leases have remaining lease terms that range from approximately one year. As of September 30, 2021, the weighted average remaining lease term and weighted average discount rate were 0.83 years and 6%, respectively.

Maturities of lease liabilities were as follows:

	Operating
As of September 30,	Lease
From October 1, 2021 to July 31, 2022	$	162,122
Total	$	162,122
Less: amounts representing interest	$	4,371
Present Value of future minimum lease payments		157,751
Less: Current obligations		157,751
Long term obligations	$	-