Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASE LIABILITY (Tables)

v3.20.2
OPERATING LEASE LIABILITY (Tables)
6 Months Ended
Jun. 30, 2020
OPERATING LEASE LIABILITY (Tables) [Line Items]  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable operating leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheet as of June 30, 2020:


Remainder 2020

  $ 255,759  

2021

    456,075  

2022

    364,083  

2023

    328,032  

2024

    141,457  

Thereafter

    20,510  

Total undiscounted future minimum lease payments

    1,565,916  

Less: Difference between undiscounted lease payments and discounted lease liabilities

    (190,374 )

Total operating lease liabilities

  $ 1,375,542  

Less current portion

    (434,523 )

Long-term operating lease liabilities

  $ 941,019  
Operating Lease [Member]  
OPERATING LEASE LIABILITY (Tables) [Line Items]  
Lease, Cost [Table Text Block]
The Company's weighted average remaining lease term and weighted average discount rate for operating leases as of June 30, 2020 are as follows:


   

June 30, 2020

 

Weighted average remaining lease term

    3.40  

Weighted average discount rate

    3.90

%