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 balance sheet information

Balance Sheet Location
March 31, 2021


Operating Leases




Right-of-use assets, net
$ 1,538,885







Current liabilities Lease liability, current maturities 

(413,084

)

Non-current liabilities Lease liability, net of current maturities
(1,126,283 )

Total operating lease liabilities
$ (1,539,367 )







Finance Leases




Right-of-use assets
$ 46,653







Current liabilities Lease liability, current maturities
(19,059 )

Non-current liabilities Lease liability, net of current maturities 
(26,318 )

Total finance lease liabilities 
$ (45,377 )







Weighted Average Remaining Lease Term






Operating leases

4.15 years

Finance leases

2.36 years

Weighted Average Discount Rate 





Operating leases

3%

Finance leases

3%
Schedule of approximate minimum annual rental commitments under non-cancelable leases

Year Ending December 31,  

Operating

Financing

Total

2021
$ 340,209
$ 15,120
$ 355,329

2022

401,622

20,160

421,782

2023

330,300

11,760

342,060

2024

324,000

-

324,000

2025

243,000

-

243,000

Total lease payments

1,639,131

47,040

1,686,171

Less: Imputed interest

99,764

1,663

101,427

Present value of lease liabilities
$ 1,539,367
$ 45,377
$ 1,584,744