LEASES

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

LEASES

13. LEASES

We have operating leases for office space and restaurant locations. Our leases have remaining lease terms of 3 months to 9 years, some of which may include options to extend the leases perpetually, and some of which may include options to terminate the leases within 1 year.

The following table provides a summary of leases by balance sheet location as of March 31, 2019:

	March 31, 2019
Operating right-of-use assets	$	3,948,834
Operating lease liability - current		856,475
Operating lease liability - non-current		3,124,524

The components of lease expenses for the three months ended March 31, 2019 were as follows:

	Three
	Months Ended
	March 31, 2019
Operating lease cost	$	386,134
Short-term lease cost		-
Variable lease cost		-

The following tables provides a summary of other information related to leases for the three months ended March 31, 2019:

	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	355,070
Right-of-use assets obtained in exchange for new operating lease liabilities	$	-
Weighted-average remaining lease term - operating leases		5.76 years
Weighted-average discount rate - operating leases		10%

Maturity of lease liabilities under our non-cancellable operating leases as of March 31, 2019, are as follows:

Payments due by period
2019 (Remainder)	$	936,849
2020		1,039,687
2021		779,008
2022		501,411
2023		514,895
Thereafter		1,582,121
Total lease payments		5,353,971
Less interest		(1,372,972	)
Present value of lease liabilities	$	3,980,999

Information for our leases for the year ended December 31, 2018 under ASC Topic 840, Leases, follows for comparative purposes.

Minimum future payments under all operating leases as of December 31, 2018, were as follows:

Payments due by period
2019	$	1,291,919
2020		1,039,687
2021		779,008
2022		501,411
2023		514,895
Thereafter		1,582,121
Total lease payments	$	5,709,041