LEASES (Tables)

6 Months Ended

Jun. 30, 2019

Additional information regarding the Company’s operating leases is as follows:

Leases	Balance Sheet Classification	June 30, 2019
Assets:
Non-current	Operating lease assets	$	15,657,859

Liabilities:
Current	Operating lease liabilities	$	3,993,352
Non-current	Operating lease liabilities, noncurrent		12,204,359
Total lease liabilities		$	16,197,711

Lease Cost

Lease Cost	Income Statement Classification	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease cost	Operating expenses	$	1,042,057	$	2,088,711
Variable lease cost (1)	Operating expenses		218,190		468,994
Total lease cost		$	1,260,247	$	2,557,705

(1) Variable lease cost includes payments for certain real estate taxes, insurance, common area maintenance, and other charges related to lease agreements, which are not included in the measurement of the operating lease liabilities.

Maturity of Lease Liabilities

Maturity of Lease Liabilities	June 30, 2019
2019	$	2,048,191
2020		3,888,665
2021		3,279,719
2022		2,408,708
2023		1,721,031
Thereafter		5,001,634
Total lease payments (2)	$	18,347,948
Less: Interest		(2,150,237	)
Present value of lease liabilities	$	16,197,711

(2) Operating lease payments exclude $0.3 million of legally binding minimum lease payments for leases signed, but not yet commenced as of June 30, 2019.

Operating Leases Other Information

As of June 30, 2019, the weighted average remaining lease term for our operating leases was 6.2 years, and the weighted average discount rate used to measure our operating leases was 4.1%.

Other Information	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases	$	1,016,719	$	2,032,013

ROU assets obtained in exchange for lease obligations		-		18,076,962