Annual report pursuant to Section 13 and 15(d)

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

v3.20.1
Right-of-Use Assets and Lease Liabilities (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Operating Lease Cost

Our operating lease cost is as follows:

 

    For the Year Ended December 31, 2019  
Operating lease cost   $ 341,966  
         

Schedule of Supplemental Cash Flow Information Related to Operating Lease

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

 

    For the Year Ended December 31, 2019  
Operating cash flow information:        
Cash paid for amounts included in the measurement of lease liabilities   $ 334,203  

Schedule of Operating Remaining Lease Term and Discount Rate

Remaining lease term and discount rate for our operating lease is as follows:

 

    December 31, 2019  
Remaining lease term     2.7 years  
Discount rate     8.5 %

Schedule of Maturity of Lease Liability

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

 

Year ended December 31, 2020     344,229  
Year ended December 31, 2021     354,561  
Year ended December 31, 2022     271,854  
Total   $ 970,644  
Less: Imputed interest     (114,011 )
Present value of our lease liability   $ 856,633