XML 51 R35.htm IDEA: XBRL DOCUMENT v3.20.4
Leases (Tables)
 12 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Summary of Finance and Operating Lease Liabilities

Finance and operating lease liabilities consist of the following:

 

    September 30,     September 30,  
    2020     2019  
Lease liabilities - current                
Finance leases   $ 20,061     $ 22,452  
Operating leases     700,975       -  
      721,036       22,452  
                 
Lease liabilities - net of current portion                
Finance leases   $ -     $ 20,061  
Operating leases     2,027,406       -  
    $ 2,027,406     $ 20,061  
Schedule of Reconciliation of Undiscounted Cash Flows to Finance and Operating Lease Liabilities

A reconciliation of undiscounted cash flows to finance and operating lease liabilities recognized in the condensed consolidated balance sheet at September 30, 2020 is set forth below:

 

Years ending September 30,   Finance leases     Operating Leases     Total  
2021     20,862       838,028       858,890  
2022     -       659,505       659,505  
2023     -       505,550       505,550  
2024     -       387,998       387,998  
2025     -       364,974       364,974  
2026     -       375,923       375,923  
Undiscounted lease payments     20,862       3,131,978       3,152,840  
Amount representing interest     (801 )     (403,597 )     (404,398 )
Discounted lease payments   $ 20,061     $ 2,728,381     $ 2,748,442  
Schedule of Lease Costs

Additional disclosures of lease data are set forth below:

 

    For the year ended  
    September 30, 2020  
Lease costs:        
Finance lease costs:        
Depreciation of finance lease assets   $ 22,912  
Interest on lease liabilities     832  
         
Operating lease costs:        
Amortization of right-of-use assets     816,550  
Interest on lease liabilities     59,122  
Total lease cost   $ 899,416  
         
Other information:        
Cash paid for amounts included in the measurement of lease liabilities:        
Operating leases   $ 816,549  
Finance leases     22,718  
    $ 839,267  
         
Weighted-average remaining lease term - finance leases (months)     10  
Weighted-average remaining lease term - operating leases (months)     51  
         
Weighted-average discount rate - finance leases     3.63 %
Weighted-average discount rate - operating leases     6.64 %