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Leases (Tables) | 6 Months Ended
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Jun. 30, 2019
Lessee Disclosure [Abstract] |
Schedule of lease expense | The components of lease expense were as follows:
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2019 |  |  | June 30, 2019 |
Operating lease cost |  | $ | 117,842 |  |  | $ | 237,539 |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of assets |  |  | 2,266 |  |  |  | 4,533 |
Interest on finance lease obligations |  |  | 1,954 |  |  |  | 3,960 |
Total net lease cost |  | $ | 122,062 |  |  | $ | 246,032 |
Schedule of supplemental balance sheet information related to leases | Supplemental balance sheet information related to leases was as follows:
|  | June 30, 2019 |
Operating leases: |  |  | Related Party |  |  |  | Other |  |  |  | Total |
Right of use asset |  | $ | 3,017,704 |  |  | $ | 274,607 |  |  | $ | 3,292,311 |
Current operating lease liabilities |  |  | 148,698 |  |  |  | 59,614 |  |  |  | 208,312 |
Noncurrent operating lease liabilities |  |  | 3,341,434 |  |  |  | 253,135 |  |  |  | 3,594,569 |
Total operating lease liabilities |  | $ | 3,490,132 |  |  | $ | 312,749 |  |  | $ | 3,802,881 |
Finance leases: |  | June 30, 2019 |  |
Right of use asset, at cost |  | $ | 47,367 |  |
Accumulated amortization |  |  | (18,061 | ) |
Right of use asset, net |  | $ | 29,306 |  |
Current obligations of finance leases |  | $ | 8,044 |  |
Finance leases, net of current obligations |  |  | 29,671 |  |
Total finance lease liabilities |  | $ | 37,715 |  |
Weighted average remaining lease term (in years): |  |  |  |  |
Operating leases |  |  | 11.5 |  |
Finance leases |  |  | 3.4 |  |
Weighted average discount rate: |  |  |  |  |
Operating leases |  |  | 5.8 | % |
Finance leases |  |  | 21.0 | % |
Schedule of supplemental cash flow information related to leases | Supplemental cash flow and other information related to leases was as follows:
|  | Six months ended |  |
|  | June 30, 2019 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases |  | $ | 210,645 |  |
Operating cash flows from finance leases |  | $ | 3,960 |  |
Financing cash flows from finance leases |  | $ | 2,968 |  |
Schedule of maturities of operating lease liabilities | Maturities of lease liabilities were as follows:
Years Ending December 31st, |  | Operating Leases |  |  | Finance Leases |
2019 (remaining six months) |  | $ | 211,351 |  |  | $ | 7,350 |
2020 |  |  | 422,164 |  |  |  | 15,705 |
2021 |  |  | 434,829 |  |  |  | 14,143 |
2022 |  |  | 447,874 |  |  |  | 10,984 |
2023 |  |  | 461,310 |  |  |  | 5,610 |
Thereafter |  |  | 3,308,155 |  |  |  | — |
Total lease payments |  |  | 5,285,683 |  |  |  | 53,792 |
Less amount representing interest |  |  | (1,482,802 | ) |  |  | (16,077 | )
Total lease obligations |  |  | 3,802,881 |  |  |  | 37,715 |
Less current portion |  |  | (208,312 | ) |  |  | (8,044 | )
Long-term lease obligations |  | $ | 3,594,569 |  |  | $ | 29,671 |
As previously reported in the 2018 Form 10-K under ASC Topic 840, future minimum lease payments under the Company’s operating lease agreements that had initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2018 were as follows:
Years ended December 31st: |  | Total |
2019 |  | $ | 420,370 |
2020 |  |  | 421,590 |
2021 |  |  | 432,079 |
2022 |  |  | 447,264 |
2023 |  |  | 460,682 |
Thereafter |  |  | 3,327,705 |
Total lease commitments |  | $ | 5,509,690 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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