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 nine months ended September 30, 2020 under all of the Company’s operating leases was $107,709 and $281,603, respectively. Rent expense during the three and nine months ended September 30, 2019 was $84,745 and $258,824, 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 leases provide 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 nine months ended September 30, 2020 was $64,244 and $190,317, respectively.

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

	September 30, 2020
Operating lease obligations (see Note 6 and 9)	$	1,888,604
Operating lease right-of-use assets	$	939,855
Weighted-average remaining lease term		4.58
Weighted-average discount rate		7.4	%

Maturities of lease liabilities is as follows:

Year ending December 31,
The remainder of 2020	$	97,298
2021		475,372
2022		484,484
2023		493,868
2024		503,535
2025 and thereafter		168,929
Total lease payments		2,223,486
Less imputed interest		(334,882	)
Total	$	1,888,604