Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

Commitments and Contingencies
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Note 5. Commitments and Contingencies



Operating Leases


The Company leases office space for a 12-month term with a monthly rent payment of approximately $15,000 per month for office rent. The term of the lease extends through December 31, 2019.


The future minimum lease payments required under the non-cancellable operating leases are as follows (rounded in millions):


Year ending December 31,   Amount  
2019   $ 0.1  
Total minimum payments required   $ 0.1  






A former Chief Financial Officer of the Company filed a complaint against the Company with the US Occupational Safety and Health Administration on March 9, 2015. This complaint was closed and dismissed by OSHA in January 2018 without any findings against the Company. On March 14, 2018 an appeal was filed and the Company will vigorously defend this appeal and believes that this appeal hearing will not result in any findings against the Company. As of March 31, 2019 and December 31, 2018, legal fees of approximately $11,000 and $4,000 were owed, respectively, and are expected to be paid in full by the Company’s insurance carriers.