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Leases
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Leases

4. Leases

 

The Company leases an office-space under a month-to-month lease for $1,000 per month. Management has determined the lease term to be less than 12 months, including renewals, and therefore has not recorded a right-of-use asset and corresponding liability under the short-term lease recognition exemption. Lease costs for the three and six months ended June 30, 2019 totaled $3,000 and $6,400, respectively and are included in the Consolidated Statements of Operations.

 

As described in Note 3, the Company has elected to adopt the transitional practical expedients, and was not required to reassess whether any existing or expired contracts contained embedded leases. The Company has not entered into any contracts during the 2019 fiscal year that contain an embedded lease.