Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 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:

 

    September 30, 2020  
Operating lease right-of-use assets   $ 697,910  
         
Operating lease liabilities - Short term   $ 173,536  
Operating lease liabilities - Long term     539,381  
Total operating lease liabilities   $ 712,917  
         
Weighted Average Remaining Lease Term In Years        
Operating leases     3.71  
         
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   $ 52,183  
2021     210,561  
2022     217,379  
2023     169,656  
2024     146,719  
Total   $ 796,498  
Less: Imputed interest     (83,581 )
Present value of lease liabilities   $ 712,917  

Schedule of Cost Component of Operating Leases

The cost component of operating leases is as follows:

 

   

For the Nine Months

Ended September 30, 2020

 
Operating lease cost   $ 169,126  
Short-term lease cost     1,839  
Total lease cost   $ 170,965  

Schedule of Supplemental Cash Flow Information Related to Operating Leases

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

 

   

For the Nine Months

Ended September 30, 2020

 
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from operating leases   $ 169,264