Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

3 Months Ended

Mar. 31, 2020

LEASES (Tables)

Schedule of lease liability

Lease liability is summarized below:

		March 31,
		2020
Total lease liability		$	486,605
Less: short term portion			79,388
Long term portion		$	407,217

Schedule of maturity analysis under lease agreements

Maturity analysis under these lease agreements are as follows:

		Total
2020		$	86,112
2021			118,065
2022			121,606
2023			125,255
2024 and beyond			140,030
Less: present value discount			(104,463	)
Lease liability		$	486,605

Schedule of lease expense

Lease expense for the three months ended March 31, 2020 was comprised of the following:

Operating lease expense		$	23,557
Short-term lease expense			-
Variable lease expense			-
		$	23,557

Schedule of Weighted-average remaining lease term

Weighted-average remaining lease term and discount rate for operating leases are as follows:

Weighted-average remaining lease term			4.65
Weighted-average discount rate			8	%