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Operating Lease
3 Months Ended
Mar. 31, 2021
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, 2021, the carrying value of this right-of-use asset, which is included in property and equipment, was approximately $1.9 million net of deferred rent on the consolidated balance sheets. As of March 31, 2021, the carrying value of the lease liability was approximately $2.4 million, which is included in accounts payable and accrued expenses on the consolidated balance sheets.
The following table summarizes the total lease and operating expenses for the three-month periods ended March 31, 2021 and 2020:
March 31,
2021
March 31,
2020
Three Months Ended$209,042 $225,858 
The approximate future minimum lease payments under the operating lease are as follows:
Future Minimum Lease Payments
Nine Months 
 Remaining In
   
20212022202320242025Total
$468,134 $624,179 $624,179 $624,179 $156,045 $2,496,716