Quarterly report pursuant to Section 13 or 15(d)

LEASE (Tables)

v3.19.3
LEASE (Tables)
9 Months Ended
Sep. 30, 2019
LEASE (Tables)  
Schedule of lease liability
 

 

September 30,

2019

 

Total lease liability

 

$

292,794

 

Less: short term portion

 

45,017

 

Long term portion

 

$

247,777

 

Schedule of maturity analysis under lease agreements

 

Three months ended December 31, 2019

 

$

16,567

 

2020

 

67,392

 

2021

 

69,751

 

2022

 

72,222

 

2023

 

74,693

 

2024 and beyond

 

57,620

 

Less: Present value discount

 

(65,451

)

Lease liability

 

$

292,794

 

Schedule of lease expense

 

Operating lease expense

 

$

62,329

 

Short-term lease expense

 

-

 

Variable lease expense

 

-

 

$

62,329

 

Schedule of Weighted-average remaining lease term

 

Weighted-average remaining lease term

 

5.01

 

Weighted-average discount rate

 

8

%