Commitments and Contingencies |
9 Months Ended | |||
|---|---|---|---|---|
Sep. 30, 2023 | ||||
| Commitments and contingencies (Note 6) | ||||
| Commitments and Contingencies |
Lease Commitments
We lease our office facility under an operating lease that expires in June 2024. Rent expense associated with this lease was approximately $32,000 and $96,000 for the three and nine months ended September 30, 2023, respectively.
Legal Proceedings
A legal proceeding has been initiated by a former employee alleging wrongful termination, retaliation, infliction of emotional distress, negligent supervision, hiring and retention and slander. An independent investigation into this individual’s allegations of whistleblower retaliation, while still an employee, was conducted utilizing an outside investigator and concluded that such allegations were not substantiated. Fedson, as further consideration for the Asset Purchase Agreement, has agreed to assume all liabilities related to this pending employment claim (See Note 8. Asset Sale). |