Quarterly report pursuant to Section 13 or 15(d)

Lease Obligations (Tables)

v3.19.2
Lease Obligations (Tables)
 6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of rent expense and supplemental cash flow information related to leases
   

Six Months Ended

June 30,
2019

 
Lease Cost      
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)   $ 370,427  
         
Other Information        
Cash paid for amounts included in the measurement of lease liabilities for the first quarter 2019   $ -  
Weighted average remaining lease term – operating leases (in years)     4.2  
Average discount rate – operating leases     3.75 %
Schedule of Suplemental balance sheet information related to leases
    At June 30,
2019		  
Operating leases      
Long-term right-of-use assets   $ 2,490,784  
         
Short-term operating lease liabilities   $ 562,126  
Long-term operating lease liabilities     1,975,459  
Total operating lease liabilities   $ 2,537,585  
Schedule of future minimum annual rental payments of operating leases
Year Ending   Operating Leases
2019 (remaining 6 months)   $ 306,160  
2020     692,977  
2021     720,922  
2022     746,752  
2023     272,057  
Total lease payments     2,738,868  
Less: Imputed interest/present value discount     (201,283 )
Present value of lease liabilities   $ 2,537,585