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Note 9 - Commitments
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Commitments Disclosure [Text Block]
9.
          Commitments
 
Lease Agreement
 
We lease approximately
8,400
square feet of office and laboratory space pursuant to an operating lease which expires on
December 31, 2022.
Rent expense for the
three
-month and
six
-month periods ended
June 30, 2020
was
$41,539
and
$83,078,
respectively, as compared to
$40,316
and
$80,633,
respectively, for the same periods of
2019.
Future minimum lease payments total
$83,078
in
2020,
$171,213
in
2021
and
$176,356
in
2022,
although the lease
may
be terminated at any time by either party with
ninety
days' written notice.
 
Other Commitments
 
In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of
June 30, 2020,
there are
$400,834
of unrecorded outstanding purchase commitments to our vendors and subcontractors,
$338,334
of which we expect will be due in
2020
and
$62,500
in
2021.
We expect this entire amount to be reimbursable to us pursuant to existing government grants.