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Operating Leases | 12 Months Ended
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Dec. 31, 2020
Operating Leases [Abstract] |
OPERATING LEASES | Note 15 – OPERATING LEASES The Company has entered into multiple lease agreements for the lease of premises for factory buildings, office spaces and warehouses including several lease agreements with related parties. The remaining lease term of the Company’s leases ranges from approximately 2 to 7 years. The estimated effect of lease renewal and termination options, as applicable, was included in the consolidated financial statements in current period. The components of lease expense were as follows:
|  | For the years ended December 31, |
|  | 2020 |  |  | 2019 |
Operating lease cost |  | $ | 50,244 |  |  | $ | 107,316 |
Short-term lease cost |  |  | - |  |  |  | 22,001 |
Total lease cost |  | $ | 50,244 |  |  | $ | 129,317 |
Rental expense, including expenses incurred from operating leases with related parties, for the year ended December 31, 2018 was $218,414. Supplemental cash flow information related to leases was as follows:
|  | For the years ended December 31, |
|  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flow from operating leases |  | $ | 9,420 |  |  | $ | 1,737 |
Weighted-average remaining lease term |  |  | 5.97 years |  |  |  | 7.60 years |
Weighted-average discount rate |  |  | 5.39 | % |  |  | 5.39 | %
Supplemental balance sheet information related to leases was as follows:
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Operating lease right-of-use assets |  | $ | 19,103 |  |  | $ | - |
Operating lease right-of-use assets, related parties |  |  | 270,852 |  |  |  | 286,670 |
Total lease right-of-use assets |  |  | 289,955 |  |  |  | 286,670 |
Operating lease liabilities, current |  |  | 9,913 |  |  |  | - |
Operating lease liabilities-related parties, current |  |  | 195,231 |  |  |  | 137,347 |
Operating lease liabilities-related party, non-current |  |  | 274,794 |  |  |  | 286,875 |
Total operating lease liabilities |  | $ | 479,938 |  |  | $ | 424,222 |
The following table summarizes the maturity of our operating lease liabilities as of December 31, 2020:
2020 |  | $ | 221,182 |
2021 |  |  | 50,741 |
2022 |  |  | 53,785 |
2023 |  |  | 57,013 |
2024 |  |  | 60,433 |
Thereafter |  |  | 97,022 |
Total |  |  | 540,176 |
Less imputed interest |  |  | (60,238 | )
Total operating lease liabilities |  | $ | 479,938 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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