Quarterly report pursuant to Section 13 or 15(d)

Transactions with Related Parties

v3.20.1
Transactions with Related Parties
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Transactions with Related Parties

10. Transactions with Related Parties

 

In September 2018, the Company leased administrative offices from a limited liability company owned by one of the Company’s directors and principal shareholder, Dr. Phillip Frost. The operating lease term is three years with an optional three-year extension. On an annualized basis, straight-line lease expense, including taxes and fees, for this location is approximately $58,000. In September 2018, the Company paid a lease deposit of $4,000 and total amounts paid in connection with this operating lease were $14,000 and $14,000 for the three months ended March 31, 2020 and 2019, respectively.