Quarterly report pursuant to Section 13 or 15(d)

Right-of-Use Assets and Lease Liability (Tables)

v3.21.1
Right-of-Use Assets and Lease Liability (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Operating Lease Cost

Our operating lease cost is as follows:

 

    For the Three Months Ended March 31,     For the Three Months Ended March 31,  
    2021     2020  
Operating lease cost   $ 85,492     $ 85,492  
Schedule of Supplemental Cash Flow Information Related to Operating Lease

Supplemental cash flow information related to our operating lease is as follows:

 

    For the Three Months Ended March 31,     For the Three Months Ended March 31,  
    2021     2020  
Operating Cash Flow Information:                
Cash paid for amounts in the measurement of lease liabilities   $ 87,981     $ 85,416  
Schedule of Operating Remaining Lease Term and Discount Rate
Remaining lease term and discount rate for our operating lease is as follows:      
   

March 31,

2021

 
Remaining lease term     1.5 years  
Discount rate     8.5 %
Schedule of Maturity of Lease Liabilities

Maturity of our lease liabilities by fiscal year for our operating lease is as follows:

 

Nine months ended December 31, 2021   $ 266,580  
Year ended December 31, 2022     271,854  
Total   $ 538,434  
Less: Imputed Interest     (49,036 )
Present value of our lease liability   $ 489,398