Leases Leases (Notes)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Lessee, Operating Leases [Text Block]

6.     Operating Leases

The Company's lease on its Woburn, Massachusetts corporate office and manufacturing facilities extends through September 2025 with a monthly base rent of $13,846 and a 5-year extension option.

Future minimum lease payments under non-cancellable operating leases as of March 31, 2022 are as follows:

2022	124,339
2023	165,785
2024	165,785
2025	117,431
Total minimum lease payments	$	573,340
Discount rate, 15%	$	141,740
Lease obligation, current portion	148,391
Lease obligation, net of current portion	283,209
	$	573,340

The Company's lease on its former corporate office in Waltham, Massachusetts expired in February 2022. During the first quarter of 2021, the Company recorded an impairment charge of $126,748 on that idle facility which was being offered for sublet. In the first quarter of 2022, a $60,000 reduction in rent expense was recorded upon return of the facility to the lessor. The letter of credit issued by a bank in favor of the Waltham facility was released. For the quarter ended March 31, 2022, the Company recorded sublet income totaling $22,795 within operating expenses on the Company's Statement of Operations.

Total recorded rent expense was $24,754 and $166,904, for the quarters ended March 31, 2022 and 2021, respectively. The Company records rent expense on its facility leases on a straight-line basis over the lease term. The remaining operating lease term was 3.7 years as of March 31, 2022.