LEASE RIGHT OF USE ASSET AND LEASE LIABILITY

3 Months Ended

Mar. 31, 2020

FINANCE LEASE

NOTE 7 - LEASE RIGHT OF USE ASSET AND LEASE LIABILITY

Operating lease right of use as follow:
	As of
	March 31, 2020			December 31, 2019
Initial recognition	$	33,593		$	35,313
Accumulated amortization		(13,997	)		(11,771	)
Balance	$	19,596		$	23,542

Operating lease liability as follows:

	As of
	March 31, 2020			December 31, 2019
Initial recognition	$	33,593		$	35,313
Less: gross repayment		(15,687	)		(13,192	)
Add: imputed interest		2,297			2,027
Balance	$	20,203		$	24,148
Less: lease liability current portion		(11,546	)		(11,936	)
Lease liability non-current portion		8,657			12,212

The amortization of the operating lease right of use asset for the three months’ period ended March 31, 2020 and the year ended December 31, 2019 were $2,865 and $11,618, respectively.

Other information:

	As of
	March 31, 2020			December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating lease	$	2,257		$	11,012
Right of use assets obtained in exchange for operating lease liabilities		19,596			23,542
Remaining lease term for operating lease (years)		2			2
Weighted average discount rate for operating lease	$	6.70	%	$	6.70	%

Lease expenses for the three months’ period ended March 31, 2020 and the year ended December 31, 2019 were $378 and $2,001, respectively.