Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

Commitments and Contingencies
12 Months Ended
Dec. 31, 2022
Commitments and Contingencies  
Commitments And Contingencies

Note 5. Commitments and Contingencies




Operating Leases


The Company leased office space for a 12-month term from January 1, 2023 through December 31, 2023 with a monthly payment of approximately $8,000. The future minimum lease payments required under the Company’s non-cancellable operating leases for 2023 total approximately $0.1 million. Total rent expense for the year ended December 31, 2022 and 2021 was approximately $0.1 million.


Project Task Statements (Purchase Orders)


For the year ended December 31, 2022, the Company had approximately $3.4 million in outstanding project task statement obligations to BEA relating to the research and development being conducted under the Strategic Partnership Project Agreement and Cooperative Research and Development Agreement at INL (see Note 6. Research and Development Costs).