Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.20.2
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Costs

The following table contains a summary of the lease costs recognized and other information pertaining to the Company’s operating leases for the year ended December 31, 2019:

 

 

Lease cost        
Operating lease cost   $ 1,025,899  
Total lease cost   $ 1,025,899  
         
Other information        
Operating cash flows received for operating leases   $ 338,435  
Weighted average remaining lease term     6.9 years  
Weighted average discount rate     8.00 %
Schedule of Maturities of Operating Lease Liabilities

Pursuant to the terms of our non-cancelable lease agreements in effect at June 30, 2020, the following table summarizes our maturities of operating lease liabilities as of June 30, 2020:

 

 

      June 30, 2020  
2020 (Remainder of year)   $ 714,603  
2021     1,605,121  
2022     1,652,563  
2023     1,700,005  
2024     1,747,447  
Thereafter     3,483,034  
Total lease payments   $ 10,902,772  
         
Less: imputed interest     (2,420,027 )
Total   $ 8,482,746