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Operating Lease
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Operating Lease Operating Lease
The Company currently leases office space of approximately 37,829 square feet at one location.
As of September 30, 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 $2.2 million. As of September 30, 2020, the carrying value of the lease liability, which is included in accounts payable and accrued expenses on the consolidated balance sheets, was approximately $2.7 million.
The following table summarizes the total lease and operating expenses for the three- and nine-month periods ended September 30, 2020 and 2019:
September 30,
2020
September 30,
2019
Three Months Ended$241,050 $239,838 
Nine Months Ended$706,538 $731,366 
The approximate future minimum lease payments under the operating lease are as follows:
Future Minimum Lease Payments
Three Months 
 Remaining In
    
20202021202220232024ThereafterTotal
$156,045 $624,179 $624,179 $624,179 $624,179 $156,045 $2,808,806