Quarterly report pursuant to Section 13 or 15(d)

5. Operating Lease Assets (Tables)

v3.19.3
5. Operating Lease Assets (Tables)
 9 Months Ended
Sep. 30, 2019
Response Rate Increase  
Additional details related to leases on Balance Sheet

The following are additional details related to leases recorded on our balance sheet as of September 30, 2019:

 

Leases Classification     Balance at
September 30,
2019
Assets          
     Operating lease assets Operating lease assets     $ 360,709   
Total lease assets       $ 360,709   
           
Liabilities          
Current          
     Operating lease liabilities Operating lease liabilities     $ 252,672   
Noncurrent          
     Operating lease liabilities Noncurrent operating lease liabilities     $ 112,012   
Total lease liabilities       $ 364,684   
Schedule of Minimum Lease Payments

The maturity analysis below summarizes the remaining future undiscounted cash flows for our operating leases, a reconciliation to operating lease liabilities reported on the Condensed Consolidated Balance Sheet, our weighted-average remaining lease term and weighted average discount rate:

 

Year ending December 31,    Amount
2019   $ 66,686   
2020     270,982   
2021     35,748   
2022     11,927   
2023     -   
Thereafter     -   
   Total future lease payments     385,343   
   Less: imputed interest     (20,659)  
Total   $ 364,684   

 

Weighted Average Remaining Lease Term (years)  
   Operating leases 2   
   
Weighted Average Discount Rate  
   Operating leases 6.20 %