|3 Months Ended|
Jun. 30, 2020
|Commitments and Contingencies Disclosure [Abstract]|
NOTE 9 — COMMITMENTS
The Company leases its facilities under a long-term operating lease agreement expiring in October 2022. The agreement generally requires the payment of utilities, real estate taxes, insurance, and repairs. Rent expense was approximately $65,000 for the three month periods ended June 30, 2020 and 2019.
As of June 30, 2020, future minimum payments during the next five fiscal years and thereafter are as follows:
The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef