The Company rents office and laboratory space in the United States. The Company also leases office equipment under a non-cancellable equipment lease through December 2022. Rent expense during the three and six months ended June 30, 2020 under all of the Company’s operating leases was $86,295 and $173,894, respectively. Rent expense during the three and six months ended June 30, 2019 was $83,903 and $174,079, respectively. Rent expense includes short-term leases and variable lease costs that are not included in the lease obligation.

Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases.

The office space lease provides for increases in future minimum annual rental payments as defined in the lease agreements. The Company has determined the lease renewal option is not reasonably certain.

The cash paid for operating lease liabilities for the three and six months ended June 30, 2020 was $64,193 and $126,073, respectively.

Supplemental other information related to the operating leases balance sheet information is as follows:

	June 30, 2020
Operating lease obligations	$	1,618,055
Operating lease right-of-use assets	$	662,074
Weighted-average remaining lease term		4.83
Weighted-average discount rate		8.0	%

Year ending December 31,
The remainder of 2020	$	194,596
2021		393,542
2022		400,198
2023		407,054
2024		414,116
2025 and thereafter		138,831
Total lease payments		1,948,337
Less imputed interest		(330,282	)
Total	$	1,618,055