Lessee Leases (Tables)
|
9 Months Ended |
Sep. 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
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Operating lease cost included in cost of goods |
|
$ |
27,868 |
|
|
$ |
35,581 |
|
|
$ |
90,569 |
|
|
$ |
120,153 |
|
| Operating lease cost included in operating costs |
|
|
13,496 |
|
|
|
13,846 |
|
|
|
35,788 |
|
|
|
41,965 |
|
| Total operating lease cost (1) |
|
|
41,364 |
|
|
|
49,427 |
|
|
|
126,357 |
|
|
|
162,118 |
|
| Finance lease cost, included in cost of goods: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of lease assets |
|
|
41,111 |
|
|
|
19,349 |
|
|
|
90,082 |
|
|
|
50,776 |
|
| Interest on lease liabilities |
|
|
6,765 |
|
|
|
4,719 |
|
|
|
18,595 |
|
|
|
12,689 |
|
| Total finance lease cost |
|
|
47,876 |
|
|
|
24,068 |
|
|
|
108,677 |
|
|
|
63,465 |
|
| Short-term lease cost |
|
|
0 |
|
|
|
5,980 |
|
|
|
2,300 |
|
|
|
23,920 |
|
| Total lease cost |
|
$ |
89,240 |
|
|
$ |
79,475 |
|
|
$ |
237,334 |
|
|
$ |
249,503 |
|
| |
(1) |
Right
of use asset amortization under operating agreements was $39,006 and $45,707 for the three months ended September 30, 2021 and 2020,
respectively. Right of use asset amortization under operating agreements was $106,545 and $141,429 for the nine months ended September
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
| |
|
September 30,
2021
|
|
|
December 31,
2020
|
|
| Weighted-average remaining lease term – operating leases |
|
|
0.7 |
|
|
|
0.93 years |
|
| Weighted-average remaining lease term – finance leases |
|
|
3.83 |
|
|
|
3.41 years |
|
| Weighted-average discount rate – operating leases |
|
|
2.9 |
% |
|
|
10.1 |
% |
| Weighted-average discount rate – finance leases |
|
|
4.6 |
% |
|
|
8.3 |
% |
|
| Schedule of Finance lease liabilities |
Finance
lease liabilities were as follows:
Schedule
of Finance lease liabilities
| |
|
September 30,
2021
|
|
|
December 31,
2020
|
|
| Gross finance lease liabilities |
|
$ |
566,867 |
|
|
$ |
310,685 |
|
| Less: imputed interest |
|
|
(45,448 |
) |
|
|
(40,183 |
) |
| Present value of finance lease liabilities |
|
|
521,419 |
|
|
|
270,502 |
|
| Less: current portion |
|
|
(147,527 |
) |
|
|
(79,526 |
) |
| Long-term finance lease liabilities |
|
$ |
373,892 |
|
|
$ |
190,976 |
|
|
| Schedule of operating lease liabilities |
Operating
lease liabilities were as follows:
Schedule
of operating lease liabilities
| |
|
September 30, 2021
|
|
|
December 31, 2020
|
|
| Gross operating lease liabilities |
|
$ |
67,147 |
|
|
$ |
146,171 |
|
| Less: imputed interest |
|
|
(2,183 |
) |
|
|
(6,863 |
) |
| Present value of operating lease liabilities |
|
|
64,964 |
|
|
|
139,308 |
|
| Less: current portion |
|
|
(52,587 |
) |
|
|
(123,158 |
) |
| Long-term operating lease liabilities |
|
$ |
12,377 |
|
|
$ |
16,150 |
|
|
| Schedule of lease maturities |
Lease
maturities were as follows:
Schedule of lease maturities
| Maturity of lease liabilities |
|
|
|
|
|
|
| 12 months ending September 30, |
|
Finance leases |
|
|
Operating leases |
|
| 2022 |
|
$ |
147,527 |
|
|
$ |
52,587 |
|
| 2023 |
|
|
136,233 |
|
|
|
12,377 |
|
| 2024 |
|
|
114,082 |
|
|
|
- |
|
| 2025 |
|
|
89,908 |
|
|
|
- |
|
| 2026 |
|
|
33,669 |
|
|
|
- |
|
| Total |
|
|
521,419 |
|
|
|
64,964 |
|
| Less: Current maturities |
|
|
147,527 |
|
|
|
52,587 |
|
| Long-term liability |
|
$ |
373,892 |
|
|
$ |
12,377 |
|
|