Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Leases

The table below summarizes the components of lease expense and income statement location for the three months ended March 31, 2020 and 2019:


	Line Item in the Company’s Consolidated Statements of Operations	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Finance lease costs:
Amortization of assets	Depreciation and amortization	$	10,554	$	6,169
Interest on lease liabilities	Other expense, net	2,283		1,911
Total finance lease costs		12,837		8,080
Operating lease costs	General and administrative expenses	849,891		697,755
Total lease costs		$	862,728	$	705,835

Supplemental information and balance sheet location related to leases is as follows:


	March 31, 2020			December 31, 2019
Operating Leases:
Operating lease right-of -use asset	$	12,430,910		$	12,486,672
Operating lease liability - current portion	$	2,497,097		$	2,313,109
Operating lease liability - net of current portion	11,856,766			11,901,040
Total operating lease liability	$	14,353,863		$	14,214,149
Finance Leases:
Property and equipment, at cost	$	232,001		$	80,604
Less accumulated amortization	(35,228)			(24,675)
Property and equipment, net	$	196,773		$	55,929
Finance lease liability - current portion	46,607			24,253
Finance lease liability - net of current portion	156,227			34,398
Total finance lease liabilities	$	202,834		$	58,651
Weighted average remaining lease term (in years):
Operating leases	5.2			5.4
Finance lease	5.1			2.3
Weighted average discount rate:
Operating leases	8.6		%	8.7		%
Finance leases	5.7		%	10.0		%

Supplemental cash flow information related to leases is as follows:


	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	$	765,093	$	735,426
Operating cash flows from finance leases	2,283		1,911
Financing cash flows from finance leases	7,214		5,285

Non-cash transactions: ROU assets obtained in exchange for lease liabilities
Operating lease	$	549,004	$	—
Finance lease	151,396		80,604

Maturities of lease liabilities as of March 31, 2020 are as follows:


	Operating Leases		Finance Lease
2020 (remainder)	$	2,651,054	$	42,290
2021	3,680,753		56,386
2022	3,564,346		35,276
2023	2,851,906		27,600
2024	2,233,014		27,600
Thereafter	2,794,811		39,100
Total lease payments	$	17,775,884	$	228,252
Less: Imputed interest	(3,422,021)		(25,418)
Total lease obligations	14,353,863		202,834
Less: Current obligations	(2,497,097)		(46,607)
Long-term lease obligation	$	11,856,766	$	156,227

Litigation

In the normal course of business, the Company is party to litigation from time to time. The Company maintains insurance to cover certain actions and believes that resolution of such litigation will not have a material adverse effect on the Company.