Lease Obligations
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Lease Obligations

NOTE 6 – LEASE OBLIGATIONS

 

Our offices are located at 2401 S. Foothill Dr., Suite D, Salt Lake City, Utah 84109-1479. In February 2020, the Company entered into a 4-year lease agreement for its office space and in March 2020, the Company entered into an addendum with our landlord for additional space. The new aggregate space consists of approximately 13,687 square feet and expires in February 2024. For the three months ended March 31, 2020 and 2019, the Company expensed $51,818 and $45,582, respectively, for rent. The Company’s ongoing lease obligation as of March 31, 2020 is as follows:

 

Year   Amount  
Remainder of 2020   $ 233,415  
2021     311,220  
2022     331,220  
2023     311,220  
2024     51,870  
Total   $ 1,218,945