Right of Use Lease Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Schedule of lease liabilities associated with future payments due under the leases

As of September 30, 2019, the lease liabilities associated with future payments due under the leases are as follows:

Total present value of future lease payments	$	390,260
Principal payments made as of the quarter
ended September 30, 2019		(94,064	)
Total right of use lease liabilities as of September 30, 2019	$	296,196

Schedule of future minimum lease payments under the right of use lease agreements

The following is a schedule of future minimum lease payments under the right of use lease agreements together with the present value of the net minimum lease payments as of September 30, 2019:

Total future minimum lease payments	$	317,251
Less present value discount		21,055
Total right of use lease liabilities as of September 30, 2019		296,196
Less current portion due within one year		124,311
Long-term right of use liabilities	$	171,885

Schedule of maturities of lease liabilities

Total maturities of lease liabilities as of September 30, 2019 are as follows:

	Total future
	minimum lease		Present value		Right of use
	payments		discount		lease liabilities
2020	$	136,858	$	12,547	$	124,311
2021	$	106,330	$	6,839	$	99,491
2022		74,063		1,669		72,394
	$	317,251	$	21,055	$	296,196