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Commitments and Contingencies
12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

10. COMMITMENTS AND CONTINGENCIES


COVID-19 Pandemic


In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic. The full impact of the COVID-19 outbreak is unknown and cannot be reasonably estimated. The magnitude and duration of the COVID-19 outbreak, as well as other factors, could result in a material impact to the Company’s financial statements in future reporting periods.


Operating Leases


The Company adopted ASU 2016-02 in the first quarter of the fiscal year ending December 31, 2019. The adoption of ASU 2016-02 did not have a material impact on the Company’s consolidated financial statements, as the Company does not have any material lease agreements Rubicon DTP leases a building for its manufacturing and offices, however such lease was not considered material to the Company’s financial statements.


Direct Dose’s net rent expense under operating leases in 2020 and 2019 amounted to $34,200 and $25,900, respectively. As of December 31, 2020, Direct Dose’s operating lease for its facility was month-to-month. On January 6, 2021, Direct Dose entered into a one year lease for an aggregate commitment of approximately $35,500.


Litigation


From time to time, the Company experiences routine litigation in the ordinary course of its business.


There are no outstanding material matters as of December 31, 2020 and through the date of this filing.