Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Lease Expense

The components of lease expense, including short term leases, were as follows:

 

   

For the Three Months

Ended

   

For the Three Months

Ended

 
   

March 31,

2021

(unaudited)

   

March 31,

2020

(unaudited)

 
Operating lease   $ 73,618     $ 70,070  
Interest on lease liabilities     6,542       14,306  
Total net lease cost   $ 80,160     $ 84,376  
Schedule of Supplemental Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

   

March 31,

2021

(unaudited)

   

December 31,

2020

 
Operating leases:                
Operating lease ROU assets - net   $ 819,632     $ 368,638  
                 
Current operating lease liabilities, included in current liabilities     235,379       210,556  
Noncurrent operating lease liabilities, included in long-term liabilities     578,476       155,167  
Total operating lease liabilities   $ 813,855     $ 365,723  

Schedule of Future Minimum Payments

Total future minimum payments required under the lease obligations as of December 31, 2020 are as follows:

 

Twelve Months Ending December 31,      
2021 (remainder of year)   $ 283,136  
2022     222,751  
2023     60,293  
2024     61,877  
2025     63,460  
Thereafter     300,030  
Total lease payments   $ 991,547  
Less: amounts representing interest     (175,227 )
Total lease obligations   $ 816,320