The following table summarizes the effects of adopting ASU 2016-02 on the Company's balance sheet as of March 31, 2019:



	As reported		Adjustments			Amounts under prior GAAP

Prepaid expenses and other current assets	$	962,727	$	44,852		$	1,007,579
Total current assets	$	11,630,142	$	44,852		$	11,674,994
Right of use asset	$	1,870,979	$	(1,870,979	)	$	—
Other long-term assets	$	30,081	$	34,363		$	64,444
Total assets	$	13,906,763	$	(1,791,764	)	$	12,114,999
Accrued expenses	$	3,036,301	$	(580,284	)	$	2,456,017
Total current liabilities	$	4,502,872	$	(580,284	)	$	3,922,588
Lease obligation - net of current portion	$	1,211,480	$	(1,211,480	)	$	—
Total liabilities	$	5,714,352	$	(1,791,764	)	$	3,922,588

The following table summarizes the effects of adopting ASU 2016-02 on the Company's balance sheet as of December 31, 2018:



	As reported		Adjustments			Amounts under prior GAAP

Prepaid expenses and other current assets	$	860,915	$	44,852		$	905,767
Total current assets	$	11,586,165	$	44,852		$	11,631,017
Right of use asset	$	1,968,062	$	(1,968,062	)	$	—
Other long-term assets	$	30,314	$	44,578		$	74,892
Total assets	$	13,991,880	$	(1,878,632	)	$	12,113,248
Accrued expenses	$	2,236,633	$	(577,460	)	$	1,659,173
Total current liabilities	$	6,592,897	$	(577,460	)	$	6,015,437
Lease obligation - net of current portion	$	1,301,172	$	(1,301,172	)	$	—
Total liabilities	$	7,894,069	$	(1,878,632	)	$	6,015,437