Quarterly report pursuant to Section 13 or 15(d)

Operating Lease (Tables)

v3.19.1
Operating Lease (Tables)
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Schedule of Components of Lease Expense and Supplemental Cash Flow Information Related to Leases

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

 

   

Three Months Ended

March 31, 2019

 
Lease Cost        
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)   $ 33,087  
         
Other Information        
Cash paid for amounts included in the measurement of lease liabilities for the first quarter 2019   $ 25,155  
Weighted average remaining lease term – operating leases (in years)     4.5  
Average discount rate – operating leases     8.3 %

Schedule of Supplemental Balance Sheet Information Related to Leases

The supplemental balance sheet information related to leases for the period is as follows:

 

    At March 31, 2019  
Operating leases        
Long-term right-of-use assets   $ 390,378  
         
Short-term operating lease liabilities   $ 73,800  
Long-term operating lease liabilities     324,510  
Total operating lease liabilities   $ 398,310

Schedule of Maturities of Operating Lease Liabilities

Maturities of the Company’s lease liabilities are as follows:

 

Year Ending   Operating Leases  
2019 (remaining 9 months)   $ 77,561  
2020     108,292  
2021     113,707  
2022     119,392  
2023     61,152  
Total lease payments     480,104  
Less: Imputed interest/present value discount     (81,794 )
Present value of lease liabilities   $ 398,310