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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases  
Schedule of lease cost

 

 

 

 

 

 

 

 

 

December 31, 

Components of total lease cost:

    

2020

    

2019

Operating lease expense

 

$

167,729

 

$

104,794

Short-term lease expense

 

 

66,025

 

 

38,414

Total lease cost

 

$

233,754

 

$

143,208

 

Schedule of balance sheet location disclosure

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2020

 

2019

Assets

 

 

 

 

 

 

Lease right of use assets

 

$

437,421

 

$

265,140

Total lease assets

 

$

437,421

 

$

265,140

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Lease liability - current portion

 

$

140,100

 

$

89,566

Noncurrent liabilities:

 

 

 

 

 

 

Lease liability, net of current portion

 

 

301,429

 

 

177,578

Total lease liability

 

$

441,529

 

$

267,144

 

Schedule of weighted average remaining lease term and the weighted average discount rate for the Company's operating leases

 

 

 

 

 

 

 

 

December 31,

 

 

    

2020

    

2019

 

Weighted average remaining lease term (in years) - operating leases

    

3.37

    

4.51

 

Weighted average discount rate - operating leases

 

7.67

%  

 8

%

 

Schedule of future lease payments

 

 

 

 

Years Ended December 31,

    

Operating Leases

2021

 

 

168,650

2022

 

 

147,507

2023

 

 

105,106

2024

 

 

43,243

2025

 

 

37,353

Total Minimum Lease Payments

 

$

501,859

Less effects of discounting

 

 

(60,330)

Present value of future minimum lease payments

 

$

441,529