Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancelable operating leases under ASC 842 as of June 30, 2020 are as follows:

	Operating Lease Payments
July 2020 – June 2021	$	196,156
July 2021 – June 2022		199,618
July 2022 – June 2023		197,600
July 2023 – June 2024		134,690
Total future minimum lease payments		728,064
Less: present value adjustment		46,280
Operating lease liabilities at June 30, 2020		681,784
Less: current portion of operating lease liabilities		174,772
Operating lease liabilities, net of current portion	$	507,012

Schedule of Rent Expense and Supplemental Cash Flow Information Related to Leases

The components of rent expense and supplemental cash flow information related to leases for the period are as follows:

	Period Ended June 30, 2020
Lease Cost
Operating lease cost (included in General and administrative expenses in the Company’s condensed Consolidated Statements of Operations)	$	80,443
Other information
Cash paid for amounts included in the measurement of lease liabilities for the period ended June 30, 2020	$	88,227
Weighted average remaining lease term – operating leases (in years)		3. 6
Average discount rate		3.6	%