Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Components of Lease Expense

The components of lease expense were as follows:

 

    For the  
    Year Ended  
    December 31,  
    2020  
Operating lease cost:        
Amortization of assets   $ 43,144  
Interest on lease liabilities     15,114  
Total lease cost   $ 58,258  
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

    December 31,  
    2020  
Operating leases:        
Operating lease assets   $ 195,029  
         
Current portion of operating lease liabilities   $ 45,271  
Noncurrent operating lease liabilities     156,254  
Total operating lease liabilities   $ 201,525  
         
Weighted average remaining lease term:        
Operating leases     3.83 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  
    Year Ended  
    December 31,  
    2020  
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows used for operating leases   $ 306,827  
Schedule of Operating Lease Liability Maturity

Future minimum annual lease commitments under non-cancelable operating leases are as follows at December 31, 2020:

 

    Operating  
    Leases  
       
2021   $ 57,498  
2022     59,223  
2023     61,000  
2024     52,098  
Total minimum lease payments     229,819  
Less interest     28,294  
Present value of lease liabilities     201,525  
Less current portion     45,271  
Long-term lease liabilities   $ 156,254