Registration of securities issued in business combination transactions

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Annual Deferred Amount

Name of Executive Officer   Annual Deferred Amount  
Andrew J. Ritter   $ 70,200  
John W. Beck   $ 33,000  
Ira E. Ritter   $ 53,820  

Schedule of Other Information Related Operating Leases in Cash Flow Information

Other information related to our leases is provided below.

 

    Year Ended
December 31, 2019
 
Supplemental Cash Flows Information        
Cash paid for amounts included in the measurement of lease liability:        
Operating cash flows from operating lease   $ 114,978  
Operating lease asset obtained in exchange for lease obligation:        
Operating lease   $ 198,319  
Remaining lease term        
Operating lease     0.8 years  
Discount rate        
Operating lease     6.0 %

Schedule of Future Payments Under Non-cancelable Operating Lease

Future payments under non-cancelable extended operating leases having initial or remaining terms of one year or more are as follows for the remaining fiscal year and thereafter:

 

Future minimum lease payments year ending December 31,      
2020 (10 months)   $ 103,254  
Total future minimum lease payments, undiscounted     103,254  
Less imputed interest     (2,783 )
Present value of lease liabilities   $ 100,471  
         
Operating lease liabilities reported as of December 31, 2019:        
Operating lease liabilities-current   $ 100,471  
Operating lease liabilities-non-current      
Total   $ 100,471  

Summarized Operating Lease Obligations

The following table summarizes our lease obligations at December 31, 2019:

 

    LEASE COMMITMENTS  
Years ended December 31,   Operating Lease  
2020   $ 103,254  
Total minimum lease payments   $ 103,254