Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.1
Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of lease expense
    Three months ended
March 31,
2019
 
Operating lease expense   $ 93,045  
         
Finance lease cost        
Amortization of right-to-use assets   $ 20,324  
Interest on lease liabilities   $ 5,930  
Total finance lease cost   $ 26,254  
Schedule of supplemental information related to leases

    Three months ended
March 31,
2019
 
Cash flow information:      
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases   $ 85,869  
Operating cash flows from finance leases   $ 5,930  
Financing cash flows from finance leases   $ 17,635  
         
Non-cash activity:        
Right-of-use assets obtained in exchange for lease obligations:        
Operating leases   $ 1,107,139  
Finance Leases   $ 282,045  

 

    As of
March 31,
2019
 
Weighted average remaining lease term:      
Operating leases   3.5 years  
Finance Leases   3.4 years  

 

Weighted average discount rate:      
Operating leases     8 %
Finance Leases     8 %
Schedule of maturities lease liabilities
Year ending December 31,   Operating
Leases
    Finance
Leases
 
2019 (excluding three months ended March 31, 2019)   $ 272,802     $ 70,695  
2020     375,352       94,260  
2021     377,714       94,260  
2022     252,907       64,144  
2023     -       3,912  
Total lease payments   $ 1,278,775     $ 327,271  
Less imputed interest     (164,461 )     (42,538 )
Present value of lease liabilities   $ 1,114,314     $ 284,733