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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Lease Related Assets and Liabilities Recorded on Balance Sheet

The table below presents the lease related assets and liabilities recorded on the balance sheet. Right-of-use assets and related liabilities related to finance leases at December 31, 2019 are de minimis.

	As of December 31,
	2019		2018
Operating Leases
Right-of-use operating lease asset:
Property and equipment, net and other assets	$	1,595,044	$	—

Lease Liabilities:
Accounts payable and accrued liabilities	$	627,896	$	—
Other long-term liabilities		1,136,583		—
Total operating lease liabilities	$	1,764,479	$	—

Future Minimum Lease Payments Required Under Office Lease

The future minimum lease payments required under our office lease as of December 31, 2019 were as follows:

Year Ending December 31,	Amount
2020	$	664,200
2021		664,200
2022		498,150
Total lease payments		1,826,550
Less: Interest		62,071
Present value of lease payments		1,764,479