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Operating Lease | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Operating Lease | NOTE 10. OPERATING LEASE The Company entered into an operating lease with a third party in September 2012 for office and warehouse space in Lenexa, Kansas. The terms of the lease include monthly payments ranging from $38,026 to $38,533 with a maturity date of April 2020. The Company has the option to renew for an additional three years beyond the original expiration date, which may be exercised at the Company’s sole discretion. The Company evaluated the renewal option at the lease commencement date to determine if it is reasonably certain the exercise the option and concluded that it is not reasonably certain that any options will be exercised. The weighted average remaining lease term for the Company’s operating lease as of June 30, 2019 was .83 years. Expense related to the office space operating lease was recorded on a straight-line basis over the lease term. Lease expense under the operating lease was approximately $198,861 for the six months ended June 30, 2019. The discount rate implicit within the Company’s operating lease was not generally determinable and therefore the Company determined the discount rate based on its incremental borrowing rate on the information available at commencement date. As of June 30, 2019, the operating lease liabilities reflect a weighted average discount rate of 8%. The following sets forth the operating lease right of use assets and liabilities as of June 30, 2019:
Assets: |  |  |
Operating lease right of use assets |  | $ | 276,338 |
Liabilities: |  |  |  |
Operating lease obligations-current portion |  | $ | 357,498 |
Operating lease obligations-less current portion |  | $ | — |
Total operating lease obligations |  | $ | 357,498 |
Following are our minimum lease payments for each year and in total.
Year ending December 31: |  |  |
2019 (period from July 1, 2019 to December 31, 2019) |  | $ | 229,170 |
2020 |  |  | 154,131 |
Total undiscounted minimum future lease payments |  |  | 383,301 |
Imputed interest |  |  | (25,803 | )
|  | $ | 357,498 |

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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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