Leases	3 Months Ended
Mar. 31, 2022
Leases
Leases	5. Leases The Company leases certain corporate office spaces under an operating lease agreement. Lease assets are presented as operating lease right-of-use assets and the related liabilities are presented as lease liabilities in the Company’s consolidated balance sheets. Operating lease right-of-use (“ROU”) assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Generally, the implicit rate of interest in lease arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives. In September 2020, Restaurant.com signed a lease for its office located in Arlington Heights, Illinois. The lease has a term of 36 months and an average base rent of approximately $7,600 per month. As of December 31, 2021, the ROU assets were $219,739. During the three months ended March 31, 2022, the Company reflected a change in its ROU asset of $26,927, resulting in a ROU asset balance of $192,812 as of March 31, 2022. As of December 31, 2021, ROU lease liabilities were $222,096. During the three months ended March 31, 2022, the Company made lease payments of $28,159 towards its ROU lease liability. As of March 31, 2022, ROU lease liabilities under operating leases totaled $193,937, of which $113,200 were reflected as current due.

Leases

3 Months Ended

Mar. 31, 2022

5. Leases

The Company leases certain corporate office spaces under an operating lease agreement. Lease assets are presented as operating lease right-of-use assets and the related liabilities are presented as lease liabilities in the Company’s consolidated balance sheets.

Operating lease right-of-use (“ROU”) assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Generally, the implicit rate of interest in lease arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives.

In September 2020, Restaurant.com signed a lease for its office located in Arlington Heights, Illinois. The lease has a term of 36 months and an average base rent of approximately $7,600 per month.

As of December 31, 2021, the ROU assets were $219,739. During the three months ended March 31, 2022, the Company reflected a change in its ROU asset of $26,927, resulting in a ROU asset balance of $192,812 as of March 31, 2022.

As of December 31, 2021, ROU lease liabilities were $222,096. During the three months ended March 31, 2022, the Company made lease payments of $28,159 towards its ROU lease liability. As of March 31, 2022, ROU lease liabilities under operating leases totaled $193,937, of which $113,200 were reflected as current due.