Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule components of lease expense
    Year ended
December 31,
2019		  
Operating lease expense   $ 369,300  
         
Finance lease cost        
Amortization of right-to-use assets   $ 81,295  
Interest on lease liabilities   $ 21,562  
Total finance lease cost   $ 102,857  
Schedule of supplemental cash flow information related to leases

    Year ended
December 31,
2019		  
Cash flow information:      
       
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases   $ 355,922  
Operating cash flows from finance leases   $ 21,562  
Financing cash flows from finance leases   $ 72,696  
         
Non-cash activity:        
         
Right-of-use assets obtained in exchange for lease obligations at December 31, 2019:        
Operating leases   $ 807,374  
Finance Leases   $ 221,073  
Schedule of weighted average remaining lease terms
Weighted average remaining lease term:    
Operating leases   2.7 years
Finance Leases   2.7 years
Schedule of weighted average discount rates
Weighted average discount rates:      
Operating leases     8 %
Finance Leases     8 %
Schedule of maturities of lease liabilities

Year ending December 31,   Operating Leases     Finance Leases  
2020   $ 341,610     $ 94,260  
2021     341,610       94,260  
2022     227,740       64,144  
2023     -       3,912  
Total lease payments   $ 910,960     $ 256,576  
Less imputed interest     (93,056 )     (26,905 )
Present value of lease liabilities   $ 817,904     $ 229,671