COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2021

COMMITMENTS AND CONTINGENCIES [Abstract]

ROU lease assets and lease liabilities

ROU lease assets and lease liabilities for the Company’s operating leases were recorded in the condensed consolidated balance sheet as follows:

	Three Months Ended March 31,
	2021		2020
Operating lease expense	$	27,312	$	—
Cash paid for amounts included in the measurement of operating lease liabilities	$	30,154	$	—
ROU assets obtained in exchange for operating lease obligations	$	967,493	$	—

	March 31, 2021			December 31, 2020
Deposits and other assets	$	967,493		$	—
Accounts payable and accrued liabilities	$	258,973		$	—
Other long-term liabilities	$	724,587		$	—
Total lease liabilities	$	983,560		$	—
Weighted average remaining lease term (in years)		3.58			—
Weighted average discount rate		8.50	%		0.0	%

Future Lease Payments Included in Measurement of Lease Liabilities

Future lease payments included in the measurement of lease liabilities on the condensed consolidated balance sheet as of March 31, 2021, for the following five fiscal years and thereafter were as follows:

	As of March 31, 2021
2021	$	250,824
2022		308,470
2023		286,670
2024		291,161
2025		85,726
Thereafter		14,288
Total future minimum lease payments	$	1,237,139
Less imputed interest		(253,579	)
Total	$	983,560

Remaining Payment Obligations under these Licenses

The following table shows the remaining payment obligations under these licenses as of March 31, 2021:

	March 31, 2021		December 31, 2020
	Unaudited
Year ending December 31, 2021	$	272,188	$	533,488
Year ending December 31, 2022		272,187		272,188
	$	544,375	$	805,676