Operating Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Operating Leases

3. Operating Leases –

We lease space under non-cancelable operating leases for our two office locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions.

Our leases include one or more options to renew. The exercise of lease renewal options included in our ROU assets and lease liabilities if they are reasonably certain of exercise.

Our leases do not provide an implicit rate; we use our incremental borrowing rate of 5% which is based on the information available at the date of adoption in determining the present value of the lease payments.

The cost components of our operating leases were $15,519 for the period ended March 31, 2019.

Maturities of our lease liabilities for all operating leases are as follows as of March 31, 2019:

	Leased Facilities
2019	$	46,181
2020		57,436
2022		28,632
Total Lease Payments		132,249
Less: Interest		(9,982	)
Present value of lease liabilities	$	122,267

The weighted average remaining lease terms equals 2.13 years as of March 31, 2019.