General form of registration statement for all companies including face-amount certificate companies

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

v3.21.1
12. Operating Lease Right-of-use Assets and Operating Lease Liability (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of operating Right-of-use asset and liability

Right-of-use asset is summarized below:

 

    December 31, 2020     December 31, 2019  
Office lease   $ 157,213     $ 157,213  
Less: accumulated amortization     (70,655 )     (28,814 )
Right-of-use asset, net   $ 86,558     $ 128,399  

  

Operating Lease liability is summarized below:

 

    December 31, 2020     December 31, 2019  
Office lease   $ 94,671     $ 138,940  
Less: current portion     (53,384 )     (44,270 )
Long term portion   $ 41,287     $ 94,670  

 

Schedule of maturity of lease liabilities

Maturity of lease liability is as follows:

 

Year ending December 31, 2021   $ 64,048  
Year ending December 31, 2022     43,655  
Total future minimum lease payment     107,703  
Imputed interest     (13,032 )
Lease Obligation, net   $ 94,671