Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Commitments and Contingencies (Tables)

v3.19.3
Note 9 - Commitments and Contingencies (Tables)
 3 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future minimum lease payments
2020   $ 339,390  
2021     393,269  
2022     496,354  
2023     512,518  
2024     571,590  
Thereafter     1,454,497  
Total Future Minimum Lease Payments     3,767,618  
Less: discount     (1,059,150 )
Total lease liability   $ 2,708,468  
Finance lease assets and liabilities
   

Financing lease

right-of-use assets

  
Initial measurement at July 1, 2019   $ 57,000  
Less depreciation of financing lease right-of-use assets     (7,000 )
Financing lease right-of-use assets at September 30, 2019   $ 50,000  

 

   

Financing lease

liabilities

  
Initial measurement at July 1, 2019   $ 58,000  
Less principal payments on financing lease liabilities     (7,000 )
Financing lease liabilities as of September 30, 2019     51,000  
Less non-current portion     (29,000 )
Current portion at September 30, 2019   $ 22,000  

 
Maturities of finance lease liabilities
   

As of

September 30,

2019

  
2020   $ 39,000  
2021     27,000  
Total financing lease payments     66,000  
Less imputed interest     (15,000 )
Present value of financing lease liabilities     51,000