Quarterly report pursuant to Section 13 or 15(d)

NATURE OF BUSINESS, ORGANIZATION AND GOING CONCERN (Tables)

v3.19.2
NATURE OF BUSINESS, ORGANIZATION AND GOING CONCERN (Tables)
 6 Months Ended
Jun. 30, 2019
NATURE OF BUSINESS, ORGANIZATION AND GOING CONCERN  
Schedule of Prospective Adoption of New Accounting Pronouncements

The following table approximates the impact that the adoption of ASC 842 had to the Company’s June 30, 2019 Condensed Consolidated Balance Sheet as impacted by landlord provided incentives and the present value of future cash flows calculation against both the asset and liability:

 

 

 

 

 

 

 

 

 

 

 

 

Balance without

 

 

 

 

As reported

 

 

adoption of

 

Adjustment as of

 

balance as of

 

    

ASC 842

    

January 1, 2019

    

June 30, 2019

Lease incentive liability

 

$

(176,000)

 

$

176,000

 

$

 —

Deferred rent

 

$

(28,000)

 

$

28,000

 

$

 —

Right-of-use asset (net)

 

$

 —

 

$

405,000

 

$

378,000

Lease liability

 

$

 —

 

$

(609,000)

 

$

(576,000)