Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

    March 31, 2021     December 31, 2020  
Weighted Average Remaining Lease Term In Years                
Operating leases     3.21       3.46  
                 
Weighted Average Discount Rate                
Operating leases     5.70 %     5.70 %
Schedule of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities are as follows:

 

Year ended December 31:      
2021   $ 158,242  
2022     217,379  
2023     169,656  
2024     146,719  
Total   $ 691,996  
Less: Imputed interest     (64,273 )
Present value of lease liabilities   $ 627,723
Schedule of Cost Component of Operating Leases

The cost component of operating leases is as follows:

 

   

For the

Three Months

Ended

March 31, 2021

   

For the

Three Months

Ended

March 31, 2020

 
Operating lease cost   $ 56,964     $ 55,198  
Short-term lease cost     611       274  
Total lease cost   $ 57,575     $ 55,472
Schedule of Supplemental Cash Flow Information Related to Operating Leases

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

 

   

For the

Three Months

Ended

March 31, 2021

   

For the

Three Months

Ended

March 31, 2020

 
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $ 56,554     $ 56,429