Quarterly report pursuant to Section 13 or 15(d)

Lease Obligations (Tables)

v3.19.3
Lease Obligations (Tables)
 9 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of rent expense and supplemental cash flow information related to leases
   

Nine Months Ended

September 30,
2019

 
Lease Cost      
Operating lease cost (of which $446,674 is included in general and administration and $77,927 is included in cost of sales in the Company's unaudited condensed statement of operations)   $ 524,601  
         
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)     3.7  
Average discount rate – operating leases     3.75 %
Schedule of Suplemental balance sheet information related to leases

    At September 30,
2019		  
Operating leases      
Long-term right-of-use assets   $ 2,339,353  
         
Short-term operating lease liabilities   $ 589,696  
Long-term operating lease liabilities     1,818,927  
Total operating lease liabilities   $ 2,408,623  

Schedule of maturities of lease liabilities

Year Ending   Operating Leases  
2019 (remaining 3 months)   $ 153,765  
2020     692,977  
2021     720,922  
2022     746,752  
2023     272,057  
Total lease payments     2,586,473  
Less: Imputed interest/present value discount     (177,849 )
Present value of lease liabilities   $ 2,408,624