General form of registration statement for all companies including face-amount certificate companies

Prepaid Expenses and Other Current Assets

v3.20.4
Prepaid Expenses and Other Current Assets
9 Months Ended
Sep. 30, 2020
Prepaid Expenses And Other Current Assets  
Prepaid Expenses and Other Current Assets
4. PREPAID EXPENSES AND OTHER CURRENT ASSETS

 

    September 30, 2020     December 31, 2019  
Deposits   $ 120,000     $ 4,443  
Legal retainer     34,105       88,369  
Prepaid expenses     3,000       5,005  
    $ 157,105     $ 97,817  

 

During the nine months ended September 30, 2020, the Company entered into a land purchase agreement in relation to construction of a facility in Coachella, California. The purchase price is $4 million out of which, $120,000 has been paid as a deposit and the balance is subject to financing.