Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.19.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Maturities of Operating Leases Liabilities

As of June 30, 2019, the maturities of operating leases liabilities are as follows:

 

    Operating Leases  
Remaining 2019   $ 57,000  
2020     107,350  
Total     164,350  
Less: amount representing interest     (17,150 )
Present value of future minimum lease payments     147,200  
Less: current obligations under leases     101,225  
Long-term lease obligations   $ 45,975
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:

 

    Six months ended  
    June 30, 2019  
Operating lease costs   $ 44,250  
Variable rent costs     (- )
Total rent expense   $ 44,250  
Schedule of Other Information Related to Leases

Other information related to leases is as follows:

 

    Six months ended  
    June 30, 2019  
Other information:        
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from operating leases   $ 44,250  
         
Weighted-average remaining lease term - operating leases     1.42 yr  
Weighted-average discount rate - operating leases     12 %