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Related Party
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
Related Party

Note 4 – Related Party

 

Common Stock Payable Awarded to Officers

On March 25, 2022, the Company issued 5,541 and 6,044 shares of common stock to Claudia and Ira Goldfarb, respectively, in satisfaction of an outstanding common stock payable for services earned during December 31, 2021. The aggregate fair value of the shares was $12,467 and $13,599 for Claudia and Ira, respectively, based on the closing price of the Company’s common stock on the date of grant.

 

Lease Agreement

Upon closing of the Asset Purchase Agreement, the Company assumed the Seller’s obligations under a real property lease for its 20,945 square foot facility in Irving, Texas, from IG Union Bower, LLC (“Union Bower”), an entity owned entirely by Ira Goldfarb, under which Union Bower is the landlord. The lease term is through September 15, 2025, with two five-year options to extend, at a monthly lease term of $10,036, with approximately a 3% annual escalation of lease payments commencing September 15, 2021.