XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Leases (Tables)
9 Months Ended
Sep. 30, 2020
Leases  
Schedule of components of lease expense

The components of lease cost were as follows:

    

Nine Months Ended

September 30, 2020

Operating lease cost

$

971,282

Finance lease cost:

 

  

Amortization of right-of-use assets

$

30,143

Interest on finance lease liabilities

 

7,747

 

37,890

Total lease cost

$

1,009,172

Schedule of other information related to leases

Other information related to leases was as follows:

Nine Months Ended

 

Supplemental Cash Flows Information

    

September 30, 2020

 

Cash paid for amounts included in the measurement of lease liabilities:

 

Operating cash flows from operating leases

 

$

912,008

Operating cash flows from finance leases

 

$

58,058

Financing cash flows from finance leases

$

50,311

Right-of-use assets obtained in exchange for lease obligations:

Operating leases

 

$

4,288,364

Finance leases

$

202,619

Weighted-Average Remaining Lease Term

Operating leases

 

7.5 years

Finance leases

 

3.0 years

Weighted-Average Discount Rate

Operating leases

6.8

%

Finance leases

5.4

%

Schedule of future minimum lease payments under non-cancellable leases

Future minimum lease payments under non-cancellable leases as of September 30, 2020 were as follows:

    

Operating

    

Finance

Years Ending December 31, 

Leases

Leases

2020 (excluding the nine months ended September 30, 2020)

$

277,982

$

23,212

2021

 

2,606,382

 

65,976

2022

 

2,718,603

 

57,329

2023

 

2,211,252

 

56,211

2024

 

2,131,805

 

2025

 

1,894,325

 

Thereafter

7,196,727

Total future minimum lease payments

 

19,037,076

 

202,728

Less imputed interest

 

(10,555,273)

 

(15,458)

Total

$

8,481,803

$

187,270

Operating

Finance 

Reported as of September 30, 2020

    

 Leases

    

Leases

Current lease liabilities

$

666,929

$

63,616

Noncurrent lease liabilities

 

7,814,874

 

123,654

Total

$

8,481,803

$

187,270