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Commitments and Contingencies
 3 Months Ended
Mar. 31, 2020
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. Our periodic lease cost and operating cash flows was $20,062 and $37,201 for the three months ended March 31, 2020 and 2019, respectively. As of March 31, 2020, our right of use asset and related liability was $189,975 and $202,636.

 

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 years.

 

The following table presents the future operating lease payment as of March 31, 2020.

 

2020 (nine months remaining)   $ 57,228  
2021     78,021  
2022     80,361  
2023     20,238  
Total Lease payments     235,848  
Less: imputed interest     (33,212 )
Total lease liability   $ 202,636