Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.20.1
COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Future minimum lease payments for non-cancelable operating leases

At December 31, 2019, future minimum lease payments due under Operating Leases are as follows:


As of December 31,

Amount

 

2020

 

$

279,997

 

2021

 

 

213,568

 

Total minimum financial lease payments

 

$

493,565

 

Less:  interest

 

 

(51,080

)

Total lease liability at December 31, 2019

 

$

442,485

 

Less: current portion of Operating lease obligations

 

 

(239,688

)

Long Term portion of Operating lease obligations

 

$

202,797

Operating leases

Rental expense for operating leases during 2019 and 2018 was $12,104 and $9,485, respectively.


 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

Purchase Power/FP Mailing

 

$

372

 

 

$

195

 

Coffee Perks/A. Antique Coffee Services

 

 

235

 

 

 

310

 

New Lane

 

 

500

 

 

 

—

 

Canon

 

 

10,997

 

 

 

8,980

 

Total Operating Leases rent expense

 

$

12,104

 

 

$

9,485