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Operating Lease

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Operating Lease

Operating Lease

The Company currently leases office space of approximately 37,829 square feet at one location.

As of March 31, 2020, the carrying value of this right-of use asset, which is included in property and equipment, net of deferred rent on the consolidated balance sheets, was approximately $2.4 million. As of March 31, 2020, the carrying value of the lease liability, which is included in accounts payable and accrued expenses on the consolidated balance sheets, was approximately $3.0 million.

The following table summarizes the total lease and operating expenses for the three months ended March 31, 2020 and 2019:

	March 31, 2020				March 31, 2019
Three Months Ended	$	225,858			$	252,073

The approximate future minimum lease payments under the operating lease are as follows:

Future Minimum Lease Payments
Nine Months   Remaining In
2020				2021				2022				2023				2024				Thereafter				Total
$	468,134			$	624,179			$	624,179			$	624,179			$	624,179			$	156,045			$	3,120,895

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- References

No definition available.

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- Definition

Disclosure of accounting policy for leasing arrangement entered into by lessee.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918666-209980

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