Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of Operating Leases
The following summarizes quantitative information about the Company’s operating leases:

Lease cost
  
Three Months Ended
March 31,
  
Operating lease cost
  
$
600,593
  
Variable lease cost
    
776,053
  
Operating lease expense
    
1,376,646
  
Short-term lease rent expense
    
4,620
  
Total rent expense
  
$
1,381,266
  
         
Other information
        
Operating cash flows from operating leases
  
$
623,976
  
Right of use assets exchanged for new operating lease liabilities
  
$
1,547,499
  
Weighted-average remaining lease term – operating leases
  
0.9 years
  
Weighted-average discount rate – operating leases
    
10.00
%
Schedule of Maturities of Operating Lease Liabilities
Maturities of the Company’s operating lease liabilities, are as follows (unaudited):

For the nine months ended December 31, 2019
  
$
898,045
  
For the year ended December 31, 2020
    
58,731
  
For the year ended December 31, 2021
    
35,040
  
Total
  
$
991,816
  
Less imputed interest
    
(34,831
)
Operating lease liabilities
  
$
956,985