General form of registration statement for all companies including face-amount certificate companies

Commitments (Tables)

v3.20.2
Commitments (Tables)
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of components of lease expense

 

 

 

 

Operating lease cost

 

$

33,878

Total Rent Expense

 

$

33,878

 

Schedule of future minimum lease payments

 

 

 

 

Year ending December 31,

    

    

 

2020 (remaining)

 

$

171,000

2021

 

 

122,234

Total future minimum lease payments

 

$

293,234

Less: imputed interest

 

 

(11,716)

Present value of operating lease liabilities

 

$

281,518

 


 

 

 

 

Other Information

    

 

 

Weighted-average remaining lease term for operating leases

 

15.5 months

 

Weighted-average discount rate for operating leases

 

6.0

%

 

Schedule of future minimum lease receivables

 

 

 

 

Year ending December 31,

    

    

 

2020 (remaining)

 

$

40,000

2021

 

 

32,500

Total future minimum lease receivables

 

$

72,500