Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.2
Leases (Tables)
3 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Schedule of operating lease expense is recognized on a straight-line basis over the lease term
Lease cost during the three month period:      
Operating lease expense   $ 102,462  
         
Term and discount rate:        
Lease term (years)     4.75  
Discount rate*     4.50 %

 

* The Company determined the discount rate with reference to mortgages of similar tenure and terms.

Schedule of minimum annual lease payments
Fiscal Year   $  
       
2020 (remainder of year)     -  
2021     402,432  
2022     402,432  
2023     402,432  
2024     301,823  
Total future minimum lease payments     1,509,119  
Imputed interest     (168,347 )
         
Operating lease obligations     1,340,772