Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Summary of Lease Assets and Lease Liabilities

The following table presents a summary of the Company’s lease assets and lease liabilities as of the dates indicated:

 

 

 

Classification

 

March 31, 2020

 

 

December 31, 2019

 

Lease Assets

 

 

 

 

 

 

 

 

 

 

Operating lease assets

 

Operating lease right-of-use assets

 

$

10,532,835

 

 

$

6,861,099

 

 

 

 

 

 

 

 

 

 

 

 

Lease Liabilities

 

 

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

Current portion of operating lease liability

 

$

2,210,264

 

 

$

1,880,957

 

Non-current operating lease liabilities

 

Other accrued liabilities

 

 

8,424,697

 

 

 

4,987,088

 

Total lease liabilities

 

 

 

$

10,634,961

 

 

$

6,868,045

 

Summary of Maturity Analysis of Operating Lease Liabilities

The following table presents the Company’s maturity analysis of its operating lease liabilities as of the date indicated:

 

 

 

 

 

March 31, 2020

 

2020

 

 

 

$

1,755,204

 

2021

 

 

 

 

1,964,927

 

2022

 

 

 

 

1,890,828

 

2023

 

 

 

 

1,847,400

 

2024 and beyond

 

 

 

 

4,384,356

 

Total lease payments

 

 

 

$

11,842,715

 

Less: interest

 

 

 

 

(1,207,754

)

Present value of lease liabilities

 

 

 

$

10,634,961