Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

Commitments and Contingencies
3 Months Ended
Mar. 31, 2024
Commitments and contingencies (Note 4)  
Commitments and Contingencies


4. 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 for the three months ended March 31, 2024 and 2023.


Legal Proceedings


In 2020, a legal proceeding was initiated against us 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. In September 2023, Fedson, as consideration for the Asset Purchase Agreement, agreed to assume all liabilities related to this pending employment claim (see Note 5. Asset Sale).