Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

 

 

As of June 30, 2021

 

 

Amount

 

 

Classification

Operating leases:

 

 

 

 

 

 

Operating lease right-of-use lease assets

 

$

1,259,803

 

 

 

 

 

 

 

 

 

 

Operating lease current liabilities

 

$

217,927

 

 

Current portion of operating lease liabilities

 

 

 

 

 

 

 

Operating lease long-term liabilities

 

 

1,111,258

 

 

Long-term operating lease liabilities

 

 

 

 

 

 

 

Total operating lease liabilities

 

$

1,329,185

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term:

 

 

 

 

 

 

Operating leases

 

5.4 years

 

 

 

 

 

 

 

 

 

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

4.2

%

 

 

Schedule of Components of Lease Expense

The components of lease expense are as follows:

 

 

 

Three Months Ended June 30, 2021

 

 

Amount

 

 

Classification

Operating lease cost

 

$

70,782

 

 

Selling, general and administrative expense

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2021

 

 

Amount

 

 

Classification

Operating lease cost

 

$

140,610

 

 

Selling, general and administrative expense

Schedule of Supplemental Cash Flow Information Related to Leases

 

Supplemental cash flow information related to leases is as follows:

 

 

 

Six Months Ended June 30, 2021

 

 

Amount

 

 

Classification

Cash paid for amounts included in the

   measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

115,684

 

 

Net income

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange

   for lease liabilities:

 

 

 

 

 

 

Operating leases

 

$

5,312

 

 

Supplemental cash flow information

Schedule of Future Maturities of Operating Lease Liabilities

As of June 30, 2021, future maturities of our operating lease liabilities are as follows:

 

Twelve Months Ending June 30,

 

Amount

 

2022

 

$

217,927

 

2023

 

 

213,145

 

2024

 

 

230,789

 

2025

 

 

250,429

 

2026

 

 

272,200

 

Thereafter

 

 

144,695

 

Total lease liabilities

 

$

1,329,185