Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.19.3
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]  
Components of Lease Expense

The following table presents components of lease expense for the nine months ended September 30, 2019:

 

 

 

Nine Months

Ended

September 30,

2019

Operating lease expense

$

147,575

 

$

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, 2019:

 

 

 

Balance Sheet Line Item

 

Nine Months Ended September 30, 2019

 

Assets

 

 

 

 

 

 

ROU assets

 

Right of use asset, net

 

$

284,936

 

Total lease assets

 

 

 

$

284,936

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Current lease liabilities

 

Lease liability

 

$

91,986

 

Long-term lease liabilities

 

Lease liability

 

 

195,196

 

Total lease liabilities

 

 

 

$

287,182

 

 

 

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

 

 

 

2.87

 

Weighted-average discount rate

 

 

 

 

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, 2019:

 

 

 

 

 

Operating Leases

 

Operating cash flow information

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

$

23,466

 

Non-cash activity:

 

 

 

 

 

 

ROU assets obtained in exchange for lease liabilities (lease cancelled)

 

 

 

 

26,685

 

ROU assets obtained in exchange for lease liabilities

 

 

 

 

304,792

 

Schedule of Future Minimum Lease Payment Due

The following table presents maturities of operating lease liabilities on an undiscounted basis as of September 30, 2019:

 

 

 

 

 

Operating Leases

 

 

 

 

 

 

 

 

2019 (excluding the nine months ended September 30, 2019)

 

 

 

$

22,317

 

2020

 

 

 

 

94,235

 

2021

 

 

 

 

103,646

 

2022

 

 

 

 

66,984

 

 

 

 

 

 

287,182