Transactions with Related Parties
|3 Months Ended|
Mar. 31, 2022
|Related Party Transactions [Abstract]|
|Transactions with Related Parties||
10. Transactions with Related Parties
The Company leases administrative offices from a limited liability company owned by one of the Company’s directors and principal stockholder, Dr. Phillip Frost. The operating lease term is through September 2024 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 $15,000 and $15,000 for the three months ended March 31, 2022 and 2021, respectively.
The Company paid a lease deposit of $4,000 and total rent and other expenses paid in connection with this lease were $15,000 for each of the three months ended March 31, 2022 and 2021.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef