FINANCE LEASE OBLIGATIONS (Tables)

9 Months Ended

Sep. 30, 2020

FINANCE LEASE OBLIGATIONS (Tables)

Schedule of future minimum lease payments

Year ended
Remainder of 2020	$	162,958
2021		150,062
2022		131,380
2023		118,341
2024		63,340
Total		626,081
Less: interest		(98,243	)
Present value of net minimum lease payments		527,838
Short term		124,231
Long term total	$	403,607

Schedule of weighted average remaining lease term and discount rate for operating leases

Weighted average remaining lease term	50		Months
Weighted average incremental borrowing rate		5.0	%

Schedule of minimum lease commitments

Remainder of 2020	$	31,617
2021		105,615
2022		129,392
2023		131,859
2024		120,871
Total undiscounted future minimum lease payments		519,354
Less: Imputed interest		(51,489	)
Present value of operating lease obligation	$	467,865

Schedule of consolidated statements of operations income

	Three months ended September 30, 2020		Nine months ended September 30, 2020
Operating lease cost:
Operating lease cost	$	30,946	$	92,840
Finance lease cost:
Amortization of financed lease assets	$	39,104	$	127,466
Interest expense		11,375		18,768
Total lease cost	$	50,479	$	146,234