Quarterly report pursuant to Section 13 or 15(d)

Debt, Commitments and Contingencies (Tables)

v3.21.1
Debt, Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Cost

Operation lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following:

 

 

    For the Three Months Ended  
    March 31, 2021     March 31, 2020  
Operating leases                
Operating lease cost   $ 18,701     $ 26,789  
Operating lease expense     18,701       26,789  
Short-term lease rent expense     6,687       5,992  
Total rent expense   $ 25,388     $ 32,781  

 

Schedule of Leasing Activities

Additional information regarding the Company’s leasing activities as a lessee is as follow:

 

    For the Three Months Ended  
    March 31, 2021     March 31, 2020  
Operating cash flows from operating leases   $                -     $           26,823  
Weighted-average remaining lease term – operating leases     -       1.5  
Weighted-average discount rate – operating leases     0.0 %     6.5 %