Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.19.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Maturities of Operating Leases Liabilities

As of March 31, 2019, the maturities of operating leases liabilities are as follows:

 

    Operating Leases  
Remaining 2019   $ 85,500  
2020     107,350  
Total     192,850  
Less: amount representing interest     (22,187 )
Present value of future minimum lease payments     170,663  
Less: current obligations under leases     98,217  
Long-term lease obligations   $ 72,446  

Schedule of Rent Expense

Rent expense is recognized on a straight-line basis over the life of the lease. Rent expense consists of the following:

 

    Three months ended  
    March 31, 2019  
Operating lease costs   $ 18,964  
Variable rent costs     (- )
Total rent expense   $ 18,964  

Schedule of Other Information Related to Leases

Other information related to leases is as follows:

 

    Three months ended  
    March 31, 2019  
Other information:        
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from operating leases   $ 15,750  
         
Weighted-average remaining lease term - operating leases     1.67 yr  
Weighted-average discount rate - operating leases     12 %