Quarterly report pursuant to Section 13 or 15(d)

5. Operating Lease Assets (Tables)

v3.20.2
5. Operating Lease Assets (Tables)
 6 Months Ended
Jun. 30, 2020
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 June 30, 2020:

 

Leases Classification     Balance at
June 30,
2020
Assets          
Current          
     Operating lease assets Operating lease assets     $                    147,946
Noncurrent          
     Operating lease assets Noncurrent operating lease assets     $                      25,559
Total lease assets       $                    173,505
           
Liabilities          
Current          
     Operating lease liabilities Operating lease liabilities     $                    182,672
Noncurrent          
     Operating lease liabilities Noncurrent operating lease liabilities     $                      32,690
Total lease liabilities       $                    215,362
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
2020   $                               149,189
2021                                     60,592
2022                                     13,484
2023                                               -
2024                                               -
Thereafter                                               -
   Total future lease payments                                   223,265
   Less: imputed interest                                     (7,903)
Total   $                               215,362

 

Weighted Average Remaining Lease Term (years)  
   Operating leases                       1
   
Weighted Average Discount Rate  
   Operating leases 6.75%