Leases (Tables)
|
9 Months Ended |
Sep. 30, 2020 |
|---|
| Leases [Abstract] |
|
| Schedule of Lease Expense |
The components of lease expense were as follows:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Operating lease cost |
|
$ |
1,226,874 |
|
|
$ |
572,516 |
|
|
$ |
2,861,360 |
|
|
$ |
1,677,137 |
|
| Short-term lease cost |
|
|
25,068 |
|
|
|
51,353 |
|
|
|
35,378 |
|
|
|
189,329 |
|
| Variable lease cost |
|
|
6,816 |
|
|
|
6,873 |
|
|
|
22,350 |
|
|
|
25,906 |
|
| Total- net lease cost |
|
$ |
1,258,758 |
|
|
$ |
630,742 |
|
|
$ |
2,919,088 |
|
|
$ |
1,892,372 |
|
|
| Schedule of Supplemental Balance Sheet Information Related to Leases |
Supplemental balance sheet information related
to leases was as follows:
| |
|
September 30, 2020 |
|
|
December 31, 2019 |
|
| Operating leases: |
|
|
|
|
|
|
|
|
| Operating lease ROU assets, net |
|
$ |
7,529,032 |
|
|
$ |
3,526,315 |
|
| |
|
|
|
|
|
|
|
|
| Current operating lease liabilities |
|
$ |
4,636,019 |
|
|
$ |
1,688,772 |
|
| Non-current operating lease liabilities |
|
|
6,642,878 |
|
|
|
2,040,772 |
|
| Total operating lease liabilities |
|
$ |
11,278,897 |
|
|
$ |
3,729,544 |
|
| |
|
|
|
|
|
|
|
|
| Operating leases: |
|
|
|
|
|
|
|
|
| ROU assets |
|
$ |
9,688,357 |
|
|
$ |
5,467,749 |
|
| Asset lease expense |
|
|
(2,134,143 |
) |
|
|
(1,888,443 |
) |
| Foreign exchange loss |
|
|
(25,182 |
) |
|
|
(52,991 |
) |
| ROU assets, net |
|
$ |
7,529,032 |
|
|
$ |
3,526,315 |
|
| |
|
|
|
|
|
|
|
|
| Weighted average remaining lease term (in years): |
|
|
|
|
|
|
|
|
| Operating leases |
|
|
2.64 |
|
|
|
2.46 |
|
| Weighted average discount rate: |
|
|
|
|
|
|
|
|
| Operating leases |
|
|
6.80 |
% |
|
|
7.05 |
% |
|
| Schedule of Supplemental Cash Flow and Other Information Related to Leases |
Supplemental cash flow and other information related to leases was
as follows:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating cash flows from operating leases |
|
$ |
1,416,615 |
|
|
$ |
611,249 |
|
|
$ |
2,859,681 |
|
|
$ |
1,736,133 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ROU assets obtained in exchange for lease liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating leases, net of impairment and terminations |
|
$ |
202,603 |
|
|
$ |
(119,052 |
) |
|
$ |
6,466,501 |
|
|
$ |
1,514,989 |
|
|
| Schedule of Maturities of Lease Liabilities |
Maturities of lease liabilities are as follows:
| Operating leases - Year ending December 31, |
|
|
|
| 2020 (three months) |
|
$ |
1,413,597 |
|
| 2021 |
|
|
4,965,055 |
|
| 2022 |
|
|
3,863,226 |
|
| 2023 |
|
|
1,674,095 |
|
| 2024 |
|
|
328,222 |
|
| 2025 |
|
|
58,601 |
|
| Total lease payments |
|
|
12,302,796 |
|
| Less: imputed interest |
|
|
(1,023,899 |
) |
| Total lease obligations |
|
|
11,278,897 |
|
| Less: current obligations |
|
|
(4,636,019 |
) |
| Long-term lease obligations |
|
$ |
6,642,878 |
|
|