Annual report pursuant to Section 13 and 15(d)

Transactions with Related Parties

v3.24.1
Transactions with Related Parties
12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Transactions with Related Parties

14. 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 stockholder, Dr. Phillip Frost. The lease term is three years with an optional three-year extension. On an annualized basis, rent expense, including taxes and fees, for this location would be approximately $62,000. The Company paid a lease deposit of $4,000 and total rent and other expenses paid in connection with this lease were $63,000 and $61,000 for the years ended December 31, 2023 and 2022 respectively.