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Leases | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Leases | Leases The Company has an operating lease for a property located adjacent to the Gold Hill Hotel, which is primarily used as a room rental. The lease commenced in 2018, and ends in 2028. The monthly rent is $750 at commencement with automatic annual increases of $25 per month every November, beginning in 2020. The operating lease is sub-leased to the Gold Hill Hotel and not separately valued within the lease of the Gold Hill Hotel. As the operating lease does not provide an implicit rate, we use the Company's incremental borrowing rate at the time of the commencement of the lease in determining the present value of the lease payments. As of the commencement of the lease in 2018, the rate was 11%. For the three month period ended March 31, 2019, the operating lease expense was $2,250, consisting of a fixed operating lease component. The operating lease has a remaining term of 9.5 years as of March 31, 2019. Supplemental cash flow information related to the Company's operating lease for the three month period ended March 31, 2019, are as follows:
Cash paid for amounts included in the measurement of lease liabilities | $ | 2,250 |
Right-of-use assets obtained in exchange for operating lease obligations | $ | 949 |
The Company has the following lease balances recorded in the condensed consolidated balance sheet as follows:
Lease Assets and Liabilities | Classification |  | March 31, 2019
Operating lease right-of-use asset | Other assets |  | $ | 57,207 |
Operating lease liability - current | Accrued expenses and other liabilities |  | $ | 6,750 |
Operating lease liability - long-term | Other liabilities |  | 50,102 |
Total operating lease liabilities |  |  | $ | 56,852 |
Maturities of lease liabilities by fiscal year for the Company's operating leases are as follows:
Remainder of 2019 |  | $ | 6,750 |
2020 |  | 9,050 |
2021 |  | 9,350 |
2022 |  | 9,650 |
2023 |  | 9,950 |
Thereafter |  | 54,550 |
Total operating lease payments |  | 99,300 |
Less: Imputed interest |  | 42,448 |
Present Value of lease liabilities |  | $ | 56,852 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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