Finance and Operating Lease Obligations (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Finance And Operating Lease Obligations |
|
| Schedule of Lease-related Assets and Liabilities |
The
following table presents our lease-related assets and liabilities at December 31, 2021 and 2020:
Schedule of Lease-related Assets and Liabilities
| |
|
Balance Sheet Classification |
|
December 31,
2021 |
|
|
December 31,
2020 |
|
| |
|
|
|
|
|
|
|
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
| Operating leases |
|
Right-of-use operating lease assets |
|
$ |
821,274 |
|
|
$ |
1,000,272 |
|
| Finance leases |
|
Property and equipment, net |
|
|
220,461 |
|
|
|
249,985 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total lease assets |
|
|
|
$ |
1,041,735 |
|
|
$ |
1,250,257 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
| Current: |
|
|
|
|
|
|
|
|
|
|
| Operating leases |
|
Right-of-use operating lease obligations |
|
$ |
247,017 |
|
|
$ |
172,952 |
|
| Finance leases |
|
Current liabilities |
|
|
220,461 |
|
|
|
249,985 |
|
| Noncurrent: |
|
|
|
|
|
|
|
|
|
|
| Operating leases |
|
Right-of-use operating lease obligations |
|
|
574,257 |
|
|
|
827,320 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total lease liabilities |
|
|
|
$ |
1,041,735 |
|
|
$ |
1,250,257 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Weighted-average remaining term: |
|
|
|
|
|
|
|
|
|
|
| Operating leases |
|
|
|
|
3.57 years |
|
|
|
4.17 years |
|
| Finance leases (1) |
|
|
|
|
0 years |
|
|
|
0 years |
|
| Weighted-average discount rate: |
|
|
|
|
|
|
|
|
|
|
| Operating leases |
|
|
|
|
13.0 |
% |
|
|
13.0 |
% |
| Finance leases |
|
|
|
|
4.9 |
% |
|
|
4.9 |
% |
|
| Schedule of Supplemental Cash Flow Information |
The
following table presents certain information related to lease expense for finance and operating leases for the years ended December 31,
2021 and 2020:
Schedule of Information Related to Lease Expense for Finance and Operating Leases
| |
|
Year
Ended December 31,
2021 |
|
|
Year
Ended December 31,
2020 |
|
| Finance
lease expense: |
|
|
|
|
|
|
|
|
| Depreciation/amortization
of leased assets |
|
$ |
- |
|
|
$ |
26,349 |
|
| Interest
on lease liabilities |
|
|
- |
|
|
|
9,455 |
|
| Operating
leases: |
|
|
|
|
|
|
|
|
| Short-term
lease expense (2) |
|
|
198,187 |
|
|
|
169,465 |
|
| Total
lease expense |
|
$ |
198,187 |
|
|
$ |
205,269 |
|
Other
Information
The
following table presents supplemental cash flow information for the years ended December 31, 2021 and 2020:
Schedule of Supplemental Cash Flow Information
| |
|
Year
Ended December
31,
2021
|
|
|
Year
Ended December
31,
2020
|
|
| Cash
paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
| Operating
cash flows for operating leases |
|
$ |
277,278 |
|
|
$ |
137,847 |
|
| Operating
cash flows for finance leases |
|
$ |
- |
|
|
$ |
9,455 |
|
| Financing
cash flows for finance lease payments |
|
$ |
29,524 |
|
|
$ |
200,709 |
|
|
| Schedule of Supplemental Cash Flow Information |
The
following table presents supplemental cash flow information for the years ended December 31, 2021 and 2020:
Schedule of Supplemental Cash Flow Information
| |
|
Year
Ended December
31,
2021
|
|
|
Year
Ended December
31,
2020
|
|
| Cash
paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
| Operating
cash flows for operating leases |
|
$ |
277,278 |
|
|
$ |
137,847 |
|
| Operating
cash flows for finance leases |
|
$ |
- |
|
|
$ |
9,455 |
|
| Financing
cash flows for finance lease payments |
|
$ |
29,524 |
|
|
$ |
200,709 |
|
|
| Schedule of Future Minimum Rentals Under Right-to-use Operating and Finance Leases |
Aggregate
future minimum lease payments under right-of-use operating and finance leases are as follows:
Schedule of Future Minimum Rentals Under Right-to-use Operating and Finance Leases
| Twelve months ending December 31, |
|
Right-of-Use Operating
Leases
|
|
|
Finance Lease |
|
| 2022 |
|
$ |
339,538 |
|
|
$ |
224,252 |
|
| 2023 |
|
|
275,176 |
|
|
|
- |
|
| 2024 |
|
|
219,463 |
|
|
|
- |
|
| 2025 |
|
|
186,496 |
|
|
|
- |
|
| Thereafter |
|
|
- |
|
|
|
- |
|
| Total |
|
|
1,020,673 |
|
|
|
224,252 |
|
| |
|
|
|
|
|
|
|
|
| Less interest |
|
|
(199,399 |
) |
|
|
(3,791 |
) |
| Present value of minimum lease payments |
|
$ |
821,274 |
|
|
$ |
220,461
|
|
| |
|
|
|
|
|
|
|
|
| Less current portion of lease obligations |
|
|
(247,017 |
) |
|
|
(220,461 |
) |
| Lease obligations, net of current portion |
|
$ |
574,257 |
|
|
$ |
- |
|
|