Leases (Tables)
|
6 Months Ended |
Jun. 30, 2019 |
|---|
| Leases [Abstract] |
|
| Schedule of Lease Expense |
The
components of lease expense were as follows:
| |
|
Three Months Ended
June 30, 2019
|
|
|
Six Months Ended
June 30, 2019
|
|
| Operating lease cost |
|
$ |
639,393 |
|
|
$ |
1,104,621 |
|
| Short-term lease cost |
|
|
32,425 |
|
|
|
137,976 |
|
| Variable lease cost |
|
|
12,450 |
|
|
|
19,033 |
|
| Total- net lease cost |
|
$ |
684,268 |
|
|
$ |
1,261,630 |
|
|
| Schedule of Supplemental Balance Sheet Information Related to Leases |
Supplemental
balance sheet information related to leases was as follows:
| |
|
June 30, 2019 |
|
| Operating leases: |
|
|
|
|
| Operating lease ROU asset, net |
|
$ |
4,860,780 |
|
| |
|
|
|
|
| Current operating lease liabilities |
|
$ |
2,077,030 |
|
| Non-current operating lease liabilities |
|
|
2,876,232 |
|
| Total operating lease liabilities |
|
$ |
4,953,262 |
|
| |
|
|
|
|
| Operating leases: |
|
|
|
|
| ROU assets, gross |
|
$ |
5,878,215 |
|
| Asset lease expense |
|
|
(943,028 |
) |
| Foreign exchange loss |
|
|
(74,407 |
) |
| ROU assets, net |
|
$ |
4,860,780 |
|
| |
|
|
|
|
| Weighted average remaining lease term (in years): |
|
|
|
|
| Operating leases |
|
|
2.67 |
|
| Weighted average discount rate: |
|
|
|
|
| Operating leases |
|
|
7.04 |
% |
|
| 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
June 30, 2019
|
|
|
Six Months Ended
June 30, 2019
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
| Operating cash flows from operating leases |
|
$ |
646,824 |
|
|
$ |
1,124,884 |
|
| |
|
|
|
|
|
|
|
|
| ROU assets obtained in exchange for lease liabilities: |
|
|
|
|
|
|
|
|
| Operating leases |
|
$ |
1,453,751 |
|
|
$ |
1,634,041 |
|
|
| Schedule of Maturities of Lease Liabilities |
Maturities of lease liabilities are as follows:
| Operating leases |
|
|
|
| 2019 (six months) |
|
$ |
1,287,711 |
|
| 2020 |
|
|
2,033,900 |
|
| 2021 |
|
|
1,397,022 |
|
| 2022 |
|
|
561,914 |
|
| 2023 |
|
|
141,314 |
|
| Total lease payments |
|
|
5,421,861 |
|
| Less: imputed interest |
|
|
(468,599 |
) |
| Total lease obligations |
|
|
4,953,262 |
|
| Less: current obligations |
|
|
(2,077,030 |
) |
| Long-term lease obligations |
|
$ |
2,876,232 |
|
|
| Schedule of Future Minimum Lease Payments Under Non-cancellable Operating Leases |
As of
December 31, 2018, future lease payment obligations under non-cancellable operating leases were as follows:
| Operating leases |
|
|
|
| 2019 |
|
$ |
932,068 |
|
| 2020 |
|
|
715,059 |
|
| 2021 |
|
|
510,927 |
|
| 2022 |
|
|
412,585 |
|
| 2023 |
|
|
91,797 |
|
| Total |
|
$ |
2,662,436 |
|
|