Commitments and Contingencies (Tables)

3 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Supplemental Information Related to Leases

Supplemental balance sheet information related to leases as of June 30, 2020 is as follows:

Assets
Operating lease - Right-of-use assets	$	2,618,513
Finance leases as a component of Property and equipment, net of accumulated depreciation of $13,472		30,054
Liabilities
Current
Current portion of operating leases	$	758,910
Current portion of finance leases		13,812
Noncurrent
Operating lease liabilities, net of current portion	$	1,914,921

Schedule of Lease term and Discount Rate

Supplemental statement of income information related to leases for the three months ended June 30, 2020 is as follows:

Operating lease expense as a component of general and administrative expenses	$	148,724
Finance lease cost
Depreciation of leased assets as a component of Depreciation	$	1,555
Interest on lease liabilities as a component of Interest Expense		154

Supplemental cash flow information related to leases for the three months ended June 30, 2020 is as follows:

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow paid for operating leases	$	163,187
Financing cash flow paid for finance leases		3,691

Lease term and Discount Rate

Weighted average remaining lease term (months)
Operating leases	36.1
Finance leases	11.0
Weighted average discount rate
Operating leases	6.66	%
Finance leases	3.68	%

Schedule of Future Minimum Rental Payments for Operating and Finance Leases

Scheduled maturities of operating and finance lease liabilities outstanding as of June 30, 2020 are as follows:

Year	Operating Leases		Finance Leases
2020, for the remaining 6 months	$	413,620	$	7,673
2021		911,204		6,394
2022		931,949		-
2023		674,488		-
2024		30,739		-
Total Minimum Future Payments		2,962,000		14,067
Less: Imputed Interest		288,169		255
Present Value of Lease Liabilities	$	2,673,831	$	13,812