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Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Operating lease obligations and remaining payments

The table below summarizes the Company’s lease obligations and remaining payments at March 31, 2019:

				March 31, 2019							January 1, 2019
	Lease Type	End Date	Remaining Years	Remaining Payments			Lease Liability				Remaining Payments			Lease Liability
Maynard Office Lease	Operating	Mar 2023	4.00	$	262,847		$	222,931			$	278,414		$	234,685
Panama Farm Lease	Operating	Apr 2019	0.08	15,000			14,901				60,000			59,013
Indiana Auto Lease	Operating	Feb 2021	1.92	9,631			8,838				10,842			9,897
Indiana Well Lease	Operating	Dec 2048	29.78	713,650			227,442				717,420			228,844
Total leases				$	1,001,128		$	474,112			$	1,066,676		$	532,439
Less: current portion				(98,338		)	(74,177		)		(142,780		)	(117,345		)
Long-term leases				$	902,790		$	399,935			$	923,896		$	415,094

Remaining payments under leases

Remaining payments under leases are as follows at March 31, 2019:

Year		Office			Farm			Auto			Well			Amount
2019		$	47,292		$	15,000		$	3,632		$	11,310		$	77,234
2020		64,637			—			4,842			15,532			85,011
2021		66,416			—			1,157			15,998			83,571
2022		67,602			—			—			16,478			84,080
2023		16,900			—			—			16,972			33,872
Thereafter		—			—			—			637,360			637,360
Total Lease Payments		$	262,847		$	15,000		$	9,631		$	713,650		$	1,001,128

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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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