Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Schedule of Components of Lease Expense

The components of lease expense were as follows:


    For the Six  
    Months Ended  
    June 30,  
Operating lease cost:        
Amortization of assets   $ 30,319  
Interest on lease liabilities     15,901  
Total lease cost   $ 46,220  

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:


    June 30,  
Operating leases:        
Operating lease assets   $ 446,137  
Current portion of operating lease liabilities   $ 56,933  
Noncurrent operating lease liabilities     398,906  
Total operating lease liabilities   $ 455,839  
Weighted average remaining lease term:        
Operating leases     9.25 years  
Weighted average discount rate:        
Operating leases     6.75 %
Schedule of Supplemental Cash Flow Related to Leases

Supplemental cash flow and other information related to leases was as follows:


    For the Six  
    Months Ended  
    June 30,  
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows used for operating leases   $ 52,513  
Leased assets obtained in exchange for lease liabilities:        
Total operating lease liabilities   $ 451,195  
Schedule of Operating Lease Liability Maturity

Future minimum annual lease commitments under non-cancelable operating leases are as follows at June 30, 2020:


2020   $ 92,800  
2021     80,877  
2022     34,528  
2023     35,909  
2024     37,345  
Thereafter     198,669  
Total minimum lease payments     480,128  
Less interest     24,289  
Present value of lease liabilities     455,839  
Less current portion     56,933  
Long-term lease liabilities   $ 398,906