Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

Note 3 - Prepaid Expenses and Other Current Assets

Prepaid expenses consisted of the following:

	March 31, 2022		December 31, 2021
Insurance	$	26,071	$	30,666
Legal Fees		4,480		16,180
Deposit for equipment purchase		25,288		25,288
Operating ROU asset – short term portion		177,453		—
Deposit for leased equipment purchase (Note 11)		153,126		153,126
Total	$	386,418	$	225,260

In December 2021, the Company made a deposit of $153,126 to purchase equipment (included in prepaid expenses in the accompanying balance sheet). The remainder of the purchase price was to be financed through a long-term lease. Terms and finalization of the lease has not yet occurred, and the Company has requested a refund of its deposit from the initial lessor who did not follow through with lease financing based on their original lease proposal.