CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

9 Months Ended

Sep. 30, 2019

The components of lease expense were as follows:

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	572,516	$	1,677,137
Short-term lease cost		51,353		189,329
Variable lease cost		6,873		25,906
Total- net lease cost	$	630,742	$	1,892,372

Supplemental balance sheet information related to leases was as follows:

	September 30, 2019
Operating leases:
Operating lease ROU assets, net	$	4,261,709

Current operating lease liabilities	$	1,962,064
Non-current operating lease liabilities		2,501,112
Total operating lease liabilities	$	4,463,176

Operating leases:
ROU assets, gross	$	5,760,741
Asset lease expense		(1,440,066	)
Foreign exchange loss		(58,966	)
ROU assets, net	$	4,261,709

Weighted average remaining lease term (in years):
Operating leases		2.55
Weighted average discount rate:
Operating leases		7.06	%

Supplemental cash flow and other information related to leases was as follows:

	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	611,249		$	1,736,133

ROU assets obtained in exchange for lease liabilities:
Operating leases, net of restructuring, impairment and terminations	$	(119,052	)	$	1,514,989

Maturities of lease liabilities are as follows:

As of December 31, 2018, future lease payment obligations under non-cancellable operating leases were as follows: