NOTE 8 – LEASES

EYME leases office space in Tel Aviv, Israel. The lease agreement commenced on May 1, 2019 and expires on June 15, 2021. The lease calls for monthly rent payments of $10,250. EYME exercised an extension option and the lease term was extended for a period of three years, through June 15, 2024, with a 3% increase in base rent.

On August 1, 2019, EYME entered into sublease with expiration date of May 14, 2021. The sublease calls for monthly rent payments of $2,857 and has been extended for an additional three years, through June 15, 2024.

NOTE 8 – LEASES (CONTINUED)

Continental Benefits leases facilities and equipment under noncancelable operating leases through July 2025.

On January 15, 2021, Continental Benefits entered into sublease with expiration date of November 30, 2023. The sublease calls for monthly rent payments of approximately $14,000 plus tax.

Operating lease expense for the three and nine months ended September 30, 2021 was $186,875 and $407,625, respectively. Operating lease expense for the three and nine months ended September 30, 2020 was $28,503 and $85,509, respectively. Sublease income for the three and nine months ended September 30, 2021 was approximately $54,640 and $115,730, respectively. Sublease income for the three and nine months ended September 30, 2020 was $6,439 and $19,172, respectively.

The Company’s future lease payments, which are presented as current maturities of operating leases and noncurrent operating lease liabilities on the Company’s condensed consolidated balance sheet as of September 30, 2021, including the optional extension, are as follows:

​

​

The remaining lease term, including the optional extension, was 2.3-2.75 years as of September 30, 2021.

The following is a summary as of September 30, 2021, of the expected sublease income:

​