Quarterly report pursuant to Section 13 or 15(d)

RIGHT OF USE ASSET

v3.21.2
RIGHT OF USE ASSET
9 Months Ended
Sep. 30, 2021
Disclosure Text Block [Abstract]  
Lessee, Operating Leases [Text Block]

NOTE 7: RIGHT OF USE ASSET

 

In April 2018, the company secured a permanent location in Wyoming for its test facility at the Fort Union Industrial Park. The term of the lease was three years. The Company elected to renew the lease for another three years in May 2021. The renewal calls for rent of $36,000, prepaid. The $36,000 covering three years rent was paid in May 2021 and is being amortized to lease expense using the straight-line method over the three-year term of the lease. During the nine months ended September 30, 2021 and 2020, the Company recognized $9,000 and $9,000 in amortization of right of use assets, respectively.