Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.19.3.a.u2
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

    December 31, 2019  
Operating lease right-of-use assets   $ 822,684  
         
Operating lease liabilities - Short term   $ 165,096  
Operating lease liabilities - Long term     670,690  
Total operating lease liabilities   $ 835,786  
         
Weighted Average Remaining Lease Term In Years        
Operating leases     4.46  
         
Weighted Average Discount Rate        
Operating leases     5.70 %

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities are as follows:

 

Year ended December 31:      
2020     208,467  
2021     210,561  
2022     217,379  
2023     169,657  
2024     146,718  
Total   $ 952,782  
Less: Imputed interest     (116,996 )
Present value of lease liabilities   $ 835,786  

Schedule of Cost Component of Operating Leases

The cost component of operating leases is as follows:

 

   

For the Twelve Months

Ended December 31,
2019

 
Operating lease cost   $ 214,359  
Short-term lease cost     3,989  
Total lease cost   $ 218,348  

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases is as follows:

 

   

For the Twelve Months

Ended December 31,
2019

 
Cash paid for amounts included in the measurement of lease liabilities:        
   Operating cash flows from operating leases   $ (201,256 )
         
Non-cash investing and financing activities:        
   Additions to ROU assets obtained from:        
   Right-of-use assets obtained in exchange for new operating lease liabilities   $ 176,027  
   Right-of-use assets and lease liabilities obtained from lease modifications   $ 815,937