Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.20.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2019
LEASES  
Schedule of Maturity Analysis of Short-Term and Operating Leases

The following table presents future minimum lease payments, excluding reimbursements under noncancelable operating leases at December 31, 2019 under ASC 840 and is being presented for comparative purposes:

 

 

 

 

 

Years ending December 31, 

    

 

 

2020

 

 

152,626

2021

 

 

155,403

2022

 

 

158,235

2023

 

 

161,123

2024

 

 

13,610

 

 

$

640,997

 

Schedule of Lessee, Operating Lease, Liability, Maturity

The following table approximates the dollar maturity of the Company’s undiscounted payments for its short-term leases and operating lease liabilities as of December 31, 2019:

 

 

 

 

 

Years ending December 31,

    

  

  

2020

 

$

153,000

2021

 

 

155,000

2022

 

 

158,000

2023

 

 

161,000

2024

 

 

14,000

Total undiscounted lease payments

 

 

641,000

Less: Imputed interest

 

 

(113,000)

Present value of lease liabilities

 

$

528,000