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COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE 8: COMMITMENTS AND CONTINGENCIES

 

Lease Agreement

 

As a result of the July 2016 acquisition, the Company negotiated a three-year lease for its office and warehouse facility. The lease requires monthly payments as follows:

 

December 15, 2018 to June 14, 2019  $10,190
June 15, 2019 to November 15, 2019  $10,690

 

The Company recorded a right to use obligation equal to the present value of remaining payments of minimum required lease payments which totaled $31,312 as of June 30, 2019, all of which is payable within one year.

 

The Company amortized $47,516 of the right to use asset during the six months ended June 30, 2019.

Rent expense for the six months ended June 30, 2018 was $52,806.

 

Legal Matters 

 

From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. There are no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations and there are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest.