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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Lease, Cost
The table below summarizes the components of lease expense and income statement location for the year ended December 31, 2019:
Line Item in the Company’s Consolidated Statements of OperationsYear Ended December 31, 2019
Finance lease costs:
Amortization of assetsDepreciation and amortization$24,675  
Interest on lease liabilitiesOther expense, net6,832  
Total finance lease costs$31,507  
Operating lease costsGeneral and administrative expenses$3,005,124  
Total lease costs$3,036,631  
Assets And Liabilities, Lessee Supplemental information and balance sheet location related to leases is as follows:
December 31, 2019
Operating Leases:
Operating lease right-of -use asset$12,486,672  
Operating lease liability - current portion2,313,109  
Operating lease liability - net of current portion11,901,040  
Total operating lease liability$14,214,149  
Finance Leases:
Property and equipment, at cost80,604  
Less accumulated amortization(24,675) 
Property and equipment, net$55,929  
Finance lease liability - current portion24,253  
Finance lease liability - net of current portion34,398  
Total finance lease liabilities$58,651  
Weighted average remaining lease term (in years):
Operating leases5.4
Finance lease2.3
Weighted average discount rate:
Operating leases8.7 %
Finance leases10.0 %
Supplemental cash flow information related to leases is as follows:
Year Ended December 31, 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases$2,834,903  
Operating cash flows from finance leases6,832  
Financing cash flows from finance leases21,954  
Non-cash transactions: ROU assets obtained in exchange for lease liabilities
Operating lease$1,350,090  
Finance lease80,604  
Lessee, Operating Lease, Liability, Maturity Maturities of lease liabilities as of December 31, 2019 are as follows:
Operating LeasesFinance Lease
2020$3,376,830  $28,786  
20213,545,186  28,786  
20223,430,110  7,676  
20232,716,465  —  
20242,096,333  —  
Thereafter2,629,450  —  
Total lease payments17,794,374  65,248  
Less: Imputed interest(3,580,225) (6,597) 
Total lease obligations14,214,149  58,651  
Less: Current obligations(2,313,109) (24,253) 
Long-term lease obligation$11,901,040  $34,398  
Finance Lease, Liability, Maturity Maturities of lease liabilities as of December 31, 2019 are as follows:
Operating LeasesFinance Lease
2020$3,376,830  $28,786  
20213,545,186  28,786  
20223,430,110  7,676  
20232,716,465  —  
20242,096,333  —  
Thereafter2,629,450  —  
Total lease payments17,794,374  65,248  
Less: Imputed interest(3,580,225) (6,597) 
Total lease obligations14,214,149  58,651  
Less: Current obligations(2,313,109) (24,253) 
Long-term lease obligation$11,901,040  $34,398  
Schedule of Future Minimum Rental Payments for Operating Leases
The future minimum obligations under operating leases in effect as of December 31, 2018 having a noncancelable term in excess of one year as determined prior to the adoption of ASC 842 are as follows:
Operating Leases  
2020$2,630,443  
20212,406,645  
20222,299,887  
20232,195,077  
20241,474,396  
Thereafter2,772,575  
Total$13,779,023