Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

    June 30, 2020  
Operating lease right-of-use assets   $ 740,086  
         
Operating lease liabilities - Short term   $ 170,680  
Operating lease liabilities - Long term     583,866  
Total operating lease liabilities   $ 754,546  
         
Weighted Average Remaining Lease Term In Years        
Operating leases     3.96  
         
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   $ 104,366  
2021     210,561  
2022     217,379  
2023     169,656  
2024     146,719  
Total   $ 848,681  
Less: Imputed interest     (94,135 )
Present value of lease liabilities   $ 754,546
Schedule of Cost Component of Operating Leases

The cost component of operating leases is as follows:

   

For the Six Months

Ended June 30, 2020

  
Operating lease cost   $ 112,162  
Short-term lease cost     738  
Total lease cost   $ 112,900
Schedule of Supplemental Cash Flow Information Related to Operating Leases

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

   

For the Six Months

Ended June 30, 2020

  
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from operating leases   $ 112,846