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Commitments and Contingencies
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 8. Commitments and Contingencies

 

We lease office space under non-cancelable operating lease which expires on March 31, 2023. We incurred lease expense of $92,608 and $167,530 for the years ended December 31, 2019 and 2018, respectively. As of December 31, 2019, our right of use asset and related liability was $203,287 and $215,689, respectively.

 

In determining the present value of our operating lease right-of-use asset and liability, we used a 10% discount rate (which approximates our borrowing rate). The remaining term on the lease is 3.25 years.

 

The following table presents the future operating lease payment as of December 31, 2019.

 

2020   $ 75,748  
2021     78,021  
2022     80,361  
2023     20,238  
Total Lease payments     254,368  
Less: imputed interest     (38,499 )
Total lease liability   $ 215,869