Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of Right-of-use Assets and Related Lease Liabilities

Information related to the Company’s right-of-use assets and related lease liabilities were as follows:

 

    Nine Months Ended  
    September 30, 2019  
Cash paid for operating lease liabilities   $ 166,500  
Right-of-use assets obtained in exchange for new operating lease obligations (1)     75,600  
Weighted-average remaining lease term     8.5 months  
Weighted-average discount rate     10 %
(1) Includes $225,300 for operating leases existing on January 1, 2019.        
Maturities of lease liabilities as of June 30, 2019 were as follows:        

Schedule of Maturities of Lease Liabilities

Due in the 12-month period ended September 30,      
2020   $ 158,500  
2021     86,200  
2022     85,100  
2023     87,600  
2024     90,300  
Thereafter     180,600  
      688,300  
Less imputed interest     (178,600 )
Total lease liabilities     509,700  
Current operating lease liabilities     115,500  
Non-current operating lease liabilities     394,200  
Total lease liabilities   $ 509,700