Commitments	12 Months Ended
Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments	3. Commitments In December 2016, the Company entered into an operating lease for office space in Solana Beach, California. The lease commenced on January 1, 2017, was extended in September 2018, December 2019 and December 2020, and has an expiration date of January 31, 2022. According to ASU No. 2016-02, the Company recognized an operating lease ROU asset and liability based on the present value of the future minimum lease payments over the lease term at the commencement date, using the Company’s assumed incremental borrowing rate, and then amortizes the ROU assets over the lease term. The Company applies a discount rate to the minimum lease payments within the lease agreement to determine the value of right-of-use assets and lease liabilities. Unless the rate implicit in the lease is determinable, ASU No. 2016-02 requires the use of the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term for a similar amount to the lease payments in a similar economic environment. The Company noted that the implicit rate in the lease was not determinable and calculated its incremental borrowing rate primarily based on the Company’s assumed borrowing rate. On January 1, 2019, the Company recorded an operating lease ROU asset and liability of approximately $136,000 based on the present value of the remaining minimum lease payments. As of December 31, 2019, the Company had an operating lease ROU asset and liability of approximately $139,000 based on the present value of the remaining minimum lease payments. During the years ended December 31, 2020 and 2019, changes in operating lease ROU asset and payments of the lease liability were included in prepaid expenses and other assets and accounts payable and accrued expense, respectively, on the statement of cash flows. Upon amendment and renewal of the term of the lease in December 2020, the Company updated the operating lease ROU asset and liability based on the present value of the future minimum lease payments over the lease term at the commencement date of the lease amendment, with an assumed borrowing rate of 10%, and recorded an operating lease ROU asset and liability of approximately $142,000. Rent expense for the years ended December 31, 2020 and 2019 was approximately $151,000 and $145,000, respectively. The Company also pays pass through costs and utility costs, which are expensed as incurred. As of December 31, 2020, the Company has future minimum lease payments under its facility lease of approximately $137,000 in 2021 and approximately $12,000 in 2022.

Commitments

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

3. Commitments

In December 2016, the Company entered into an operating lease for office space in Solana Beach, California. The lease commenced on January 1, 2017, was extended in September 2018, December 2019 and December 2020, and has an expiration date of January 31, 2022. According to ASU No. 2016-02, the Company recognized an operating lease ROU asset and liability based on the present value of the future minimum lease payments over the lease term at the commencement date, using the Company’s assumed incremental borrowing rate, and then amortizes the ROU assets over the lease term. The Company applies a discount rate to the minimum lease payments within the lease agreement to determine the value of right-of-use assets and lease liabilities. Unless the rate implicit in the lease is determinable, ASU No. 2016-02 requires the use of the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term for a similar amount to the lease payments in a similar economic environment. The Company noted that the implicit rate in the lease was not determinable and calculated its incremental borrowing rate primarily based on the Company’s assumed borrowing rate. On January 1, 2019, the Company recorded an operating lease ROU asset and liability of approximately $136,000 based on the present value of the remaining minimum lease payments. As of December 31, 2019, the Company had an operating lease ROU asset and liability of approximately $139,000 based on the present value of the remaining minimum lease payments. During the years ended December 31, 2020 and 2019, changes in operating lease ROU asset and payments of the lease liability were included in prepaid expenses and other assets and accounts payable and accrued expense, respectively, on the statement of cash flows.

Upon amendment and renewal of the term of the lease in December 2020, the Company updated the operating lease ROU asset and liability based on the present value of the future minimum lease payments over the lease term at the commencement date of the lease amendment, with an assumed borrowing rate of 10%, and recorded an operating lease ROU asset and liability of approximately $142,000.

Rent expense for the years ended December 31, 2020 and 2019 was approximately $151,000 and $145,000, respectively. The Company also pays pass through costs and utility costs, which are expensed as incurred.

As of December 31, 2020, the Company has future minimum lease payments under its facility lease of approximately $137,000 in 2021 and approximately $12,000 in 2022.