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COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Supplemental lease information

 

Supplemental lease information at December 31, 2019

 

  

 

Right-of-use asset

 

$

10,109,154

 

Short-term operating lease liability (included in Other current liabilities)

 

$

1,501,539

 

Long-term operating lease liability

 

$

9,145,049

 

Weighted average remaining term

 

 

9 Years

 

Weighted average discount rate

 

 

8.25

%

 

Supplemental cash flow information for the year ended
December 31, 2019

 

 

 

Cash paid for amounts included in the measurement of lease liabilities for operating lease

 

$

1,164,234

 

Right-of-use assets obtained in exchange for lease obligation

 

$

11,171,471

 
The following table reconciles the undiscounted cash flows for all operating leases at December 31, 2019 to the operating lease liabilities recorded on the balance sheet:

The following table reconciles the undiscounted cash flows for all operating leases at December 31, 2019 to the operating lease liabilities recorded on the balance sheet:

 

Years Ending December 31,

 

  

 

2020

 

$

1,566,617

 

2021

 

 

2,198,541

 

2022

 

 

1,262,302

 

2023

 

 

1,293,859

 

2024

 

 

1,326,206

 

Thereafter

 

 

8,036,931

 

Total undiscounted lease payments

 

 

15,684,456

 

Less: imputed interest

 

 

(5,037,868

)

Present value of lease payments

 

$

10,646,588