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Leases

6 Months Ended

Jun. 30, 2021

4. LEASES

The Company’s noncancelable operating leases consist of leases for office space. The Company is the lessee under the terms of the operating leases. For the six months ended June 30, 2021, the operating lease cost was $0.20 million.

The Company’s operating leases have remaining lease terms that range from approximately one year to two years. As of June 30, 2021, the weighted average remaining lease term and weighted average discount rate were 1.08 years and 6%, respectively.

Maturities of lease liabilities were as follows:

	Operating
As of June 30,	Lease
From July 1, 2021 to June 30, 2022	$	195,307
From July 1, 2022 to June 31, 2022		16,276
Total	$	211,583
Less: amounts representing interest	$	7,224
Present Value of future minimum lease payments		204,359
Less: Current obligations		188,164
Long term obligations	$	16,195