Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)

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OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Right-of-use assets and operating lease liabilities

Right-of- use assets are summarized below:

 

    June 30, 2019
Office and retail leases   $ 1,428,534  
Less accumulated amortization     (126,350 )
Right-of-us assets, net   $ 1,302,184  

 

Operating lease liabilities are summarized as follows:

 

    June 30, 2019
Lease liability   $ 1,317,947  
Less current portion     (323,309 )
Long term portion   $ 994,739  

 

Maturity of lease liabilities
    Amount
For the six months ending December 31, 2019   $ 205,506  
For the year ending December 31, 2020     415,006  
For the year ending December 31, 2021     378,257  
For the year ending December 31, 2022     308,645  
For the year ending December 31, 2023     192,785  
Thereafter     28,407  
Total   $ 1,528,606  
Less: present value discount     (210,659 )
Lease liability   $ 1,317,947