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Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases  
The tables below present the operating and financing lease assets and liabilities recognized on the condensed consolidated balance sheets as of June 30, 2021 and December 31, 2020

The tables below present the operating and financing lease assets and liabilities recognized on the condensed consolidated balance sheets as of June 30, 2021 and December 31, 2020:

 

Right-of Use Assets

 

June 30, 2021

 

December 31, 2020

   Operating Leases

 

$

1,301,741

 

 

$

  1,542,130

 

   Financing Leases

 

 

—

 

 

  1,867

 

 

 

$

1,301,741

 

 

$

  1,543,997

 

 

 

 

Lease Liabilities, Current

 

June 30, 2021

 

December 31, 2020

   Operating Leases

 

$

509,537

 

 

$

  492,804

 

   Financing Leases

 

 

—

 

 

 

 1,538

 

 

 

$

509,537

 

 

$

  494,342

 

Lease Liabilities, Non-Current

 

 

 

 

 

 

 

 

  Operating Leases

 

$

845,012

 

 

$

  1,105,219

 

Total Lease Liabilities

 

$ 

1,354,549

 

 

$ 

1,599,561

 

The Company's weighted average remaining lease term and weighted average discount rate for operating and financing leases as of June 30, 2021 and December 31, 2020 ar

The Company's weighted average remaining lease term and weighted average discount rate for operating and financing leases as of June 30, 2021 and December 31, 2020 are:

 

June 30, 2021

 

Operating

 

 

Financing

 

Weighted Average Remaining Lease Term

 

 

2.59  Years

 

 

 

—

 

Weighted Average Discount Rate

 

 

4.34

%

 

 

—

 

 

December 31, 2020

 

Operating

 

Financing

Weighted Average Remaining Lease Term

 

 

3.85  Years

 

 

 

0.42 Years

 

Weighted Average Discount Rate

 

 

4.29

%

 

 

3.95

%

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the unaudited condensed consolidated balance sheets as of June 30, 202

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the unaudited condensed consolidated balance sheets as of June 30, 2021:

 

Year Ending December 31,   Operating  
Remainder of 2021   $ 275,106    
2022     562,615    
2023     543,577    
2024     28,320    
2025     23,600    
Undiscounted Future Minimum Lease Payments     1,433,218    
Less: Difference between undiscounted lease payments and discounted lease liabilities     78,669    
Total Lease Liabilities   $ 1,354,549    
Short-Term Lease Liabilities   $  509,537    
Long-Term Lease Liabilities   $ 845,012