Lessee Leases (Tables)
|
6 Months Ended |
Jun. 30, 2021 |
|---|
| Leases [Abstract] |
|
| Schedule of lease costs recognized in consolidated statements of operations |
Lease
costs recognized in our consolidated statements of operations is summarized as follows:
Schedule of lease costs recognized in consolidated statements of operations
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Operating lease cost included in cost of goods |
|
$ |
29,837 |
|
|
$ |
38,615 |
|
|
$ |
62,701 |
|
|
$ |
84,571 |
|
| Operating lease cost included in operating costs |
|
|
13,496 |
|
|
|
13,846 |
|
|
|
24,592 |
|
|
|
28,119 |
|
| Total operating lease cost (1) |
|
|
43,333 |
|
|
|
52,461 |
|
|
|
87,293 |
|
|
|
112,690 |
|
| Finance lease cost, included in cost of goods: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of lease assets |
|
|
38,952 |
|
|
|
17,434 |
|
|
|
51,586 |
|
|
|
31,427 |
|
| Interest on lease liabilities |
|
|
6,363 |
|
|
|
4,475 |
|
|
|
11,830 |
|
|
|
7,969 |
|
| Total finance lease cost |
|
|
45,315 |
|
|
|
21,909 |
|
|
|
63,416 |
|
|
|
39,396 |
|
| Short-term lease cost |
|
|
0 |
|
|
|
8,970 |
|
|
|
2,300 |
|
|
|
17,940 |
|
| Total lease cost |
|
$ |
88,648 |
|
|
$ |
83,340 |
|
|
$ |
153,009 |
|
|
$ |
170,026 |
|
|
(1) |
Right
of use asset amortization under operating agreements was $26,558 and $49,846 for the three
months ended June 30, 2021 and 2020, respectively. Right of use asset amortization under
operating agreements was $67,539 and $95,722 for the six months ended June 30, 2021 and 2020,
respectively. |
|
| Schedule of other information about lease amounts recognized in Condensed Consolidated Financial Statements |
Other
information about lease amounts recognized in our condensed consolidated financial statements is summarized as follows:
Schedule
of other information about lease amounts recognized in Condensed Consolidated Financial Statements
| |
|
June 30, 2021 |
|
|
December 31, 2020 |
|
| Weighted-average remaining lease term – operating leases |
|
|
1.29 years |
|
|
|
.93 years |
|
| Weighted-average remaining lease term – finance leases |
|
|
4.05 years |
|
|
|
3.41 years |
|
| Weighted-average discount rate – operating leases |
|
|
7.9 |
% |
|
|
10.1 |
% |
| Weighted-average discount rate – finance leases |
|
|
5.5 |
% |
|
|
8.3 |
% |
|
| Schedule of Finance lease liabilities |
Finance
lease liabilities were as follows:
Schedule
of Finance lease liabilities
| |
|
June 30, 2021 |
|
|
December 31, 2020 |
|
| Gross finance lease liabilities |
|
$ |
609,184 |
|
|
$ |
310,685 |
|
| Less: imputed interest |
|
|
(52,213 |
) |
|
|
(40,183 |
) |
| Present value of finance lease liabilities |
|
|
556,971 |
|
|
|
270,502 |
|
| Less: current portion |
|
|
(145,399 |
) |
|
|
(79,526 |
) |
| Long-term finance lease liabilities |
|
$ |
411,572 |
|
|
$ |
190,976 |
|
|
| Schedule of operating lease liabilities |
Operating
lease liabilities were as follows:
Schedule
of operating lease liabilities
| |
|
June 30, 2021 |
|
|
December 31, 2020 |
|
| Gross operating lease liabilities |
|
$ |
108,208 |
|
|
$ |
146,171 |
|
| Less: imputed interest |
|
|
(3,616 |
) |
|
|
(6,863 |
) |
| Present value of operating lease liabilities |
|
|
104,592 |
|
|
|
139,308 |
|
| Less: current portion |
|
|
(83,920 |
) |
|
|
(123,158 |
) |
| Long-term operating lease liabilities |
|
$ |
20,672 |
|
|
$ |
16,150 |
|
|
| Schedule of lease maturities |
Lease
maturities were as follows:
Schedule
of lease maturities
| Maturity of lease liabilities |
|
|
|
|
|
|
| 12 months ending June 30, |
|
Finance leases |
|
|
Operating leases |
|
| 2022 |
|
$ |
145,399 |
|
|
$ |
83,920 |
|
| 2023 |
|
|
143,929 |
|
|
|
20,672 |
|
| 2024 |
|
|
116,128 |
|
|
|
- |
|
| 2025 |
|
|
99,870 |
|
|
|
- |
|
| 2026 |
|
|
51,645 |
|
|
|
- |
|
| Total |
|
|
556,971 |
|
|
|
104,592 |
|
| Less: Current maturities |
|
|
145,399 |
|
|
|
83,920 |
|
| Long-term liability |
|
$ |
411,572 |
|
|
$ |
20,672 |
|
|