Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases

Schedule of lease cost

	For the Three Months Ended June 30, 2020		For the Six Months Ended June 30, 2020
Operating lease cost	$	103,956	$	207,912
Finance lease cost
Amortization of lease assets		29,725		54,752
Interest on lease liabilities		4,903		9,315
Total finance lease cost	$	34,628	$	64,067

Schedule of weighted average remaining lease term and incremental borrowing rate

Weighted average remaining lease term
Operating leases	6.5	years
Finance leases	2.5	years
Weighted average discount rate
Operating leases	6.55	%
Finance leases	6.17	%

Schedule of maturities of operating and finance lease liabilities

	Operating Leases		Finance Leases		Total
2020 (excluding the six months ended June 30, 2020)	$	161,619	$	60,342	$	221,961
2021		330,032		120,684		450,716
2022		338,960		155,694		494,654
2023		244,973		10,284		255,257
2024		231,503		-		231,503
2025		238,452		-		238,452
Thereafter		454,821		-		454,821
Total minimum lease payments		2,000,360		347,004		2,347,364
Less: imputed interest		(368,622)		(27,064)		(395,686)
Present value of lease liabilities	$	1,631,738	$	319,940	$	1,951,678

Maturities of operating lease liabilities as of June 30, 2019 were as follows:

2019 (excluding the six months ended June 30, 2020)	$	97,496
2020		115,580
2021		118,158
2022		120,737
2023		20,195
Total lease payments		472,166
Less: imputed interest		(60,608)
Present value of operating lease liabilities	$	411,558