Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Portion of Deferred Amounts

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

Schedule of Supplemental Cash Flow Information Related to Leases

Other information related to leases was as follows:

 

    Three Months Ended
March 31, 2020
 
Supplemental Cash Flows Information        
Cash paid for amounts included in the measurement of lease liability:        
Operating cash flows from operating lease   $ 143,723  
Operating lease asset obtained in exchange for lease obligation:        
Operating lease   $ 198,319  
Remaining lease term        
Operating lease     0.6 years  
Discount rate        
Operating lease     6.00 %

Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases

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 (remaining)   $ 72,278  
Total future minimum lease payments, undiscounted     72,278  
Less imputed interest     (1,424 )
Present value of lease liabilities   $ 70,854  
         
Operating lease liabilities reported as of March 31, 2020:        
Operating lease liabilities-current   $ 70,854  
Total   $ 70,854