Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.1
9. Operating Lease Right-of-use Assets and Operating Lease Liability (Tables)
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of operating Right-of-use asset and liability

Right-of-use asset is summarized below:

 

    March 31, 2021     March 31, 2020  
Office lease   $ 157,213     $ 157,213  
Less: accumulated amortization     (82,197 )     (38,669 )
Right-of-use asset, net   $ 75,016     $ 118,544  

 

Operating Lease liability is summarized below:

    March 31, 2021     March 31, 2020  
Office lease   $ 73,025     $ 128,707  
Less: current portion     (55,890 )     (46,415 )
Long-term portion   $ 17,135     $ 82,292  
Schedule of maturity of lease liabilities

Maturity of lease liability is as follows:

 

Year ending December 31, 2021   $ 48,273  
Year ending December 31, 2022     43,655  
Total future minimum lease payment     91,928  
Imputed interest     (9,636 )
Lease Obligation, net   $ 82,292