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Leases (Tables)
6 Months Ended
Jun. 30, 2019
Leases  
Summary of Operating Leases

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

June 30, 2019

 

June 30, 2019

Operating leases

 

 

 

  Operating lease cost

$ 554,921

 

$ 1,089,888

  Variable lease cost

78,237

 

168,081

Operating lease expense

633,158

 

1,257,969

Short-term lease rent expense

4,122

 

8,313

Total rent expense

$ 637,280

 

$ 1,266,282

 

 

 

 

Other information

 

 

 

Operating cash flows from operating leases

$ 514,116

 

$ 1,038,081

Right of use assets exchanged for operating lease liabilities

$ 821,195

 

$ 4,305,428

Weighted-average remaining lease term – operating leases

2.6

 

2.6

Weighted-average discount rate – operating leases

6.8%

 

6.8%

 

Future Minimum Rental Payments Under Operating Leases

 

 

 

 

 

Six months ended June 30, 2019

    

$

944,466

 

Year ending December 31, 2020

 

 

1,394,778

 

Year ending December 31, 2021

 

 

772,616

 

Year ending December 31, 2022

 

 

308,167

 

Year ending December 31, 2023

 

 

174,896

 

Year ending December 31, 2024

 

 

65,119

 

Total

 

$

3,660,042

 

Less present value discount

 

 

(332,251)

 

Operating lease liabilities

 

$

3,327,791