Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENT LIABILITIES

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COMMITMENTS AND CONTINGENT LIABILITIES
3 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENT LIABILITIES

10. COMMITMENTS AND CONTINGENT LIABILITIES

 

Litigation

 

The Company is not currently party to any legal proceedings, the adverse outcome of which, in the Company’s management’s opinion, individually or in the aggregate, would have a material adverse effect on the Company’s results of operations or financial position.

 

Lease Commitments

 

The Company has entered into operating lease agreements for its office locations in California, Virginia and Pennsylvania which expire at various times through September 30, 2020. Minimum future lease payments under these leases are as follows:

 

    Payments due by period  
Contractual Obligations   Total     2019     2020  
Operating Lease Obligations   $ 216,600     $ 169,100     $ 47,500  
Total   $ 216,600     $ 169,100     $ 47,500