Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.2
12. Operating Lease Right-of-use Assets and Operating Lease Liability (Tables)
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Schedule of operating Right-of-use asset and liability

Right-of-use assets are summarized below:

 

    June 30, 2020     December 31, 2019  
Office lease   $ 157,213     $ 157,213  
Less accumulated amortization     (48,913 )     (28,814 )
Right-of-use assets, net   $ 108,300     $ 128,399  

 

Operating Lease liabilities are summarized below:

 

    June 30, 2020     December 31, 2019  
Office lease   $ 118,086     $ 138,940  
Less: current portion     (48,643 )     (44,270 )
Long term portion   $ 69,443     $ 94,670  
Schedule of maturity of lease liabilities

Maturity of lease liabilities are as follows:

 

Year ending December 31, 2020   $ 31,551  
Year ending December 31, 2021     64,048  
Year ending December 31, 2022     43,655  
Total future minimum lease payment     139,254  
Imputed interest     (21,168 )
Lease Obligation, net   $ 118,086