Quarterly report pursuant to Section 13 or 15(d)

12. Operating Lease Right-of-use Assets and Operating Lease Liability (Tables)

v3.20.1
12. Operating Lease Right-of-use Assets and Operating Lease Liability (Tables)
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Schedule of operating Right-of-use asset and liability

Right-of-use assets are summarized below:

 

    March 31, 2020  
Office lease   $ 157,213  
Less accumulated amortization     (38,669 )
Right-of-use assets, net   $ 118,544  

 

Operating Lease liabilities are summarized below:

    March 31, 2020  
Office lease   $ 128,707  
Less: current portion     (46,415 )
Long term portion   $ 82,292  

Schedule of maturity of lease liabilities

Maturity of lease liabilities are as follows:

 

Year ending December 31, 2020   $ 46,867  
Year ending December 31, 2021     64,048  
Year ending December 31, 2022     43,655  
Total future minimum lease payment     154,570  
Imputed interest     (25,863 )
Lease Obligation, net   $ 138,940