XML 80 R37.htm IDEA: XBRL DOCUMENT

Leases (Tables)

12 Months Ended

Dec. 31, 2019

The components of lease cost for operating leases were as follows:

	Year Ended
	December 31, 2019
Operating leases
Operating lease cost	$	618,463
Variable lease cost		131,387
Operating lease expense		749,850
Short-term lease rent expense		1,497
Total rent expense	$	751,347

The components of lease cost for financing leases were as follows:

	Year Ended
	December 31, 2019
Financing leases
Amortization of right-of-use assets	$	46,255
Interest on lease liability		6,859
Total financing lease cost	$	53,114

The table below summarizes other information related to the Company’s operating leases:

	Year Ended or As of December 31, 2019
Operating cash flows for operating leases	$	770,658
Establishment of operating lease liabilities arising from obtaining right-of-use assets	$	2,038,193
Weighted-average remaining lease term – operating leases		2.3
Weighted-average discount rate – operating leases		9.6	%

As of December 31, 2019, remaining maturities of our operating leases, excluding short-term leases, are as follows:

2020	$	881,300
2021		352,243
2022		281,232
2023		70,848
Total		1,585,623
Less present value discount		(190,351	)
Operating lease liabilities, net	$	1,395,272

Lease commitments as presented under ASC 840 as of December 31, 2018 were as follows:

The table below summarizes other information related to the Company’s financing leases:

	December 31,
	2019
Weighted-average remaining lease term – financing leases		3.7
Weighted-average discount rate – financing leases		9.77	%

As of December 31, 2019, remaining maturities of our financing leases are as follows:

2020	$	50,072
2021		28,355
2022		20,716
2023		18,396
2024		16,080
Total		133,619
Less present value discount		(21,811	)
Financing lease liabilities, net	$	111,808