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Commitments and Related Party Transactions (Southwestern Montana Financial Center, Inc.)
 12 Months Ended
Dec. 31, 2018
Southwestern Montana Financial Center, Inc. [Member]  
Commitments and Related Party Transactions

NOTE 7. COMMITMENTS AND RELATED PARTY TRANSACTIONS

 

Operating Leases

 

The Company has two lease agreements to lease office space from a related party through common ownership. The leases are classified as operating leases for terms of two and five years, respectively. One lease expires in March 2020 and the other lease expires in March 2023.

 

Future minimum lease payments approximate the following as of December 31, 2018:

 

Years ending December 31,      
2019   $ 111,000  
2020     88,500  
2021     84,000  
2022     84,000  
2023     21,000  
Total   $ 388,500  

 

Rent expense amounted to $138,000 and $137,874 for the years ended December 31, 2018 and 2017, respectively.