Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense

The components of lease expense for the year ended March 31, 2020 were as follows:

 

Operating lease cost   $ 246,462  
Finance lease cost:        
Amortization of right-of-use assets   $ 8,171  
Interest on lease liabilities     2,087  
Total finance lease cost   $ 256,720  

Schedule of Future Minimum Lease Payments Under All Non-cancelable Operating Leases

Future minimum lease payments as of March 31, 2020 under all non-cancelable leases having an initial or remaining term of more than one year were:

 

    Operating
Leases
    Finance
Lease
 
2020   $ 750,504     $ 28,809  
2021     1,008,227       38,412  
2022     949,535       27,123  
2023     910,166       23,201  
2024     835,411       3,229  
Thereafter     4,304,441       -  
Total lease payments     8,758,284     $ 120,774  
Less: imputed interest     (2,490,229 )     (14,465 )
    $ 6,268,055     $ 106,309