Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]  
Components of Lease Expense

The following table presents components of lease expense excluding discontinued operations for the three and nine months ended September 30, 2020 and 2019:

 

 

Three Months

Ended

September 30,

2020

 

Nine Months

Ended

September 30,

2020

Three Months

Ended

September 30,

2019

Nine Months

Ended

September 30,

2019

Operating lease expense

$

27,644

$

89,931

50,274

147,575

 

$

27,644

$

89,931

50,274

147,575

Summary of Supplemental Balance Sheet Information Related to Operating Leases

The following table presents supplemental balance sheet information related to operating leases as of September 30, 2020 and December 31, 2019:

 

 

Balance Sheet Line Item

As of September 30, 2020

 

As of December 31, 2019

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

ROU assets

 

Right of use asset, net

$

185,370

 

$

260,260

 

 

 

Total lease assets

 

 

$

185,370

 

$

260,260

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Current lease liabilities

 

Lease liability

$

98,846

 

$

94,235

 

 

 

Long-term lease liabilities

 

Lease liability

 

97,368

 

 

171,648

 

 

 

Total lease liabilities

 

 

$

196,214

 

$

265,883

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

 

 

1.83

 

 

2.60

 

 

 

Weighted-average discount rate

 

 

 

6.55

%

 

6.55

%

 

 

Summary of Supplemental Cash Flow Information and Non-cash Activity Related to Operating Leases

The following table presents supplemental cash flow information and non-cash activity related to operating leases for the nine months ended September 30, 2020 and 2019:

 

 

 

 

Nine Months Ended September 30, 2020

 

Nine Months Ended September 30, 2019

 

 

 

Operating cash flow information

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

$

(69,669

)

$

(23,466

)

 

 

Supplemental Disclosure of non-cashflow information

 

 

 

 

 

 

 

 

 

 

ROU assets and operating lease obligation recognized

 

 

$

-

 

$

331,477

 

 

 

Schedule of Future Minimum Lease Payment Due

The following table presents maturities of operating lease liabilities on an undiscounted basis as of September 30, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Leases

 

 

 

 

 

2020 (excluding the nine months ended September 30, 2020)

 

 

$

24,566

 

 

 

 

 

2021

 

 

 

103,646

 

 

 

 

 

2022

 

 

 

68,002

 

 

 

 

 

 

 

 

$

196,214