COMMITMENTS, CONTINGENCIES, AND CONCENTRATIONS (Tables)

6 Months Ended

Jun. 30, 2020

COMMITMENTS, CONTINGENCIES, AND CONCENTRATIONS [Abstract]

Customer and Purchase Concentration Risks

The following table discloses product sales the Company had to the only customer that purchased in excess of 10% of the Company’s net product sales for the periods indicated:

	For The Three Months Ended										For The Six Months Ended										Accounts Receivable as of
	June 30, 2020					June 30, 2019					June 30, 2020					June 30, 2019					June 30, 2020		Dec. 31, 2019
	Sales		% of Sales			Sales		% of Sales			Sales		% of Sales			Sales		% of Sales
Customer 1	$	657,304		17.0	%	$	4,573,434		54	%	$	2,297,376		24.0	%	$	5,615,932		38	%	$	806,196	$	941,962
Customer 2	$	-		0.0	%	$	1,627,075		19	%	$	-		0.0	%	$	3,460,666		23	%	$	-	$	-

Future Minimum Salary Commitment

As of June 30, 2020, the Company had multi-year contracts with two key employees that include salaries presently aggregating $765,000 per year. The contracts expire in December 2020 and December 2022. The following table is a schedule of future minimum salary commitments related to those contracts as of June 30, 2020:

2020	$	382,500
2021		765,000
2022		400,000

Components of Lease Expense

The components of lease expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease expense	$	388,951	$	400,658	$	852,808	$	682,261
Finance lease cost
Amortization of right-of-use assets	$	14,687	$	-	$	27,085	$	-
Interest on lease liabilities		5,156		-		9,367		-
Total finance lease expense	$	19,843	$	-	$	36,452	$	-

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	292,058	$	147,107	$	457,277	$	305,157
Operating cash flows for finance leases		5,156		-		9,367		-
Financing cash flows for finance leases		12,666		-		23,578		-
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		-		-		-		6,949,611
Finance leases	$	47,499	$	233,722	$	75,852	$	233,722

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

	June 30, 2020			June 30, 2019
Finance Leases
Finance lease right of use asset	$	309,574		$	233,722
Accumulated depreciation		(50,690	)		-
Finance lease right of use asset, net	$	258,884			233,722
Weighted-Average Remaining Lease Term
Operating leases	9 years			10 years
Finance leases	4 years			5 years
Weighted-Average Discount Rate
Operating leases		8.62	%		8.52	%
Finance leases		9.73	%		7.0	%

Maturities of Lease Liabilities

Maturities of lease liabilities were as follows.

	June 30, 2020				June 30, 2019
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
2019 and 2020	$	682,667	$	37,720	$	1,129,543	$	27,768
2021		1,209,787		75,440		998,071		55,536
2022		1,057,757		75,440		1,026,044		55,536
2023		1,026,272		75,440		1,011,085		55,536
2024		1,018,875		47,672		-		55,536
Thereafter		5,773,887		4,774		6,792,767		27,767
Total lease payments	$	10,769,245	$	316,486	$	10,957,510	$	277,679
Less: imputed interest		3,427,535		50,366		3,986,013		43,957
Total	$	7,341,710	$	266,120	$	6,971,497	$	233,722