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10. LEASE LIABILITIES-FINANCE AND OPERATING LEASE

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

10. LEASE LIABILITIES-FINANCE AND OPERATING LEASE

The components of finance lease liabilities were as follows:

		Imputed		March 31,				December 31,
		Interest rate		2019				2018
Total finance lease liability		6.7%		$	2,349,480			$	2,267,025
Less: Current portion					(240,021	)			(197,480	)
Finance lease liability, net of current portion				$	2,109,459			$	2,069,545

Interest expenses from a finance lease liability amounted to $38,659 and $41,797 for the three-month periods ended March 31, 2019 and 2018, respectively, were charged to the condensed consolidated statement of loss. The remaining finance lease term at March 31, 2019 was 12 years.

The components of operating lease liabilities as follows:

		Imputed		March 31,				December 31,
		Interest rate		2019				2018
Total Operating lease liabilities		4.89%		$	8,952,252			$	—
Less: Current portion					(416,656	)			—
Operating lease liabilities, net of current portion				$	8,535.596			$	—

The weighted average remaining operating lease term at March 31, 2019 was 23 years and the weighted average discounts rate was 4.89%.

Maturities of lease liabilities were as follows:

		Financial lease				Operating Lease
Payable within:
the next 12 months		$	278,753			$	797,083
the next 13 to 24 months			278,753				809,731
the next 25 to 36 months			278,753				656,344
the next 37 to 48 months			278,753				661,798
the next 49 to 60 months			278,753				660,863
thereafter			1,951,274				12,484,462
Total			3,345,039				16,070,281
Less: Amount representing interest			(995,559	)			(7,118,029	)
Present value of net minimum lease payments		$	2,349,480			$	8,952,252