Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Commitments and Contingencies

Note 5 - Commitments and Contingencies
9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies


On October 1, 2018, the Company entered into a three-year lease agreement for its office in Westlake Village, CA. In addition to minimum rent, certain leases require payment of real estate taxes, insurance, common area maintenance charges and other executory costs. The Company recognizes rent expense under such arrangements on a straight-line basis over the effective term of each lease.


The following table summarizes the Company’s future minimum lease commitments as of September 30, 2020:


Year ending December 31:      
     2020     18,000  
     2021     61,000  
Total minimum lease payments   $ 79,000  


Rent expense for the nine months ended September 30, 2020 and 2019 was $50,000 and $50,000, respectively.