Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies.

Commitments and Contingencies

7. Commitments and Contingencies

Claims and Lawsuits

The Company may be involved in litigation in the ordinary course of business from time to time. In the opinion of the Company’s management, insurance or indemnification from other third parties adequately covers these matters, if any, and the effect, if any, of these claims is not material to the Company’s financial condition and results of operations.

On January 16, 2015, the Company entered into a settlement agreement and release with our former insurance carrier whereby the parties mutually released and resolved all disputes. We agreed to provide a credit to be used over a three-year period commencing March 1, 2015 through March 1, 2018. The credit, which approximated $350,000, was divided equally among the three-year period with no rollover of unused amounts from one year to another. In April 2018, we agreed to extend the credit through October 2018 as our client committed to two additional programs at the resort. As of December 31, 2018 and 2017, the liability related to the settlement credit was  $0 and $56,871, respectively.