Quarterly report pursuant to Section 13 or 15(d)

10. Leases (Tables)

v3.21.1
10. Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Balance Sheet Classification Table

Balance Sheet Classification of Operating Lease Assets and Liabilities

 

    Balance Sheet Line   March 31, 2021  
Asset            
Operating lease right of use assets   Noncurrent assets   $ 4,242,124  
Liabilities            
Lease liabilities   Noncurrent liabilities   $ 4,342,018  
Operating Lease Costs

The table below summarizes the components of lease costs for the three months ended March 31, 2021.

 

    Three Months Ended
March 31, 2021
 
Operating lease costs   $ 278,117  
Maturities of Lease Liabilities

Maturities of lease liabilities as of March 31, 2021 are as follows:

 

2021 fiscal year   $ 4,418,867  
Less: Interest     (76,848 )
Present value of lease liabilities   $ 4,342,018  
Future minimum lease obligations

The following table presents the Company’s future minimum lease obligation under ASC 840 as of March 31, 2021:

 

2021 fiscal year     1,109,215  
2022 fiscal year     1,479,393  
2023 fiscal year     1,354,595  
2024 fiscal year     723,590  
2025 fiscal year     333,356  
2026 fiscal year     178,648  
Total     5,178,796