Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Supplemental Information Related to Leases
Supplemental information related to leases for the year ended December 31, 2019 was as follows:
Cash paid for amounts included in the measurement of operating lease liabilities
$
641,290

Right-of-use assets obtained in exchange for new operating lease liabilities
$
2,676,202

Weighted-average remaining lease term - operating leases
4.0 years

Weighted-average discount rate - operating leases
6
%
Future Minimum Lease Commitments
Future minimum lease commitments under non-cancellable operating leases as of December 31, 2019 were as follows:
 
 
Operating Leases

2020
 
$
649,801

2021
 
576,698

2022
 
559,115

2023
 
566,863

2024
 
134,700

Total lease payments
 
2,487,177

Less: imputed interest
 
313,226

Total
 
$
2,173,951