Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases  
Schedule of lease cost

Three months ended June 30,

Six months ended June 30, 

    

2021

    

2020

    

2021

    

2020

Components of total lease costs:

Operating lease expense

$

245,615

$

34,801

$

293,289

$

70,151

Short-term lease expense

 

95,254

 

18,044

 

123,716

 

35,047

Total lease cost

$

340,869

$

52,845

$

417,005

$

105,198

Schedule of weighted average remaining lease term and the weighted average discount rate for the Company's operating leases

    

June 30, 2021

    

December 31, 2020

Weighted average remaining lease term (in years) - operating leases

5.42

3.37

Weighted average discount rate - operating leases

 

5.92

%

7.67

%

Schedule of future lease payments

Future lease payments included in the measurement of lease liabilities on the consolidated balance sheet as of June 30, 2021, for the following five fiscal years and thereafter were as follows:

    

Operating

Years Ended December 31,

Leases

2021 (remaining)

$

548,278

2022

 

1,119,081

2023

 

1,046,796

2024

 

967,663

2025

 

847,126

2026 and thereafter

1,132,870

Total minimum lease payments

$

5,661,814

Less effects of discounting

 

(857,274)

Present value of future minimum lease payments

$

4,804,540