Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease, Cost The table below summarizes the components of lease expense and income statement location for the three and nine months ended September 30, 2021 and 2020:
Line Item in the Company’s Condensed Consolidated Income Statements Three Months Ended
September 30, 2021		 Three Months Ended September 30, 2020 Nine Months Ended
September 30, 2021		 Nine Months Ended
September 30, 2020
Finance lease costs:
Amortization of assets Depreciation and amortization $ 21,797  $ 18,850  $ 63,506  $ 49,024 
Interest on lease liabilities Other expense, net 2,132  3,066  7,225  8,779 
Total finance lease costs 23,929  21,916  70,731  57,803 
Operating lease costs General and administrative expenses 1,201,547  891,603  3,221,145  2,659,569 
Total lease costs $ 1,225,476  $ 913,519  $ 3,291,876  $ 2,717,372 
Schedule of Assets And Liabilities, Lessee Supplemental information and balance sheet location related to leases is as follows:
September 30, 2021 December 31, 2020
Operating Leases:
Operating lease right-of -use asset $ 15,903,649  $ 11,581,435 
Operating lease liability - current portion $ 3,874,451  $ 2,918,140 
Operating lease liability - net of current portion 14,977,426  10,632,672 
Total operating lease liability $ 18,851,877  $ 13,550,812 
Finance Leases:
Property and equipment, at cost $ 267,252  $ 282,027 
Less accumulated amortization (126,140) (92,549)
Property and equipment, net $ 141,112  $ 189,478 
Finance lease liability - current portion 64,944  70,507 
Finance lease liability - net of current portion 93,887  132,469 
Total finance lease liabilities $ 158,831  $ 202,976 
Weighted average remaining lease term (in years):
Operating leases 5.3 4.7
Finance lease 3.6 4.1
Weighted average discount rate:
Operating leases 7.7  % 8.5  %
Finance leases 5.1  % 5.3  %
Supplemental cash flow information related to leases is as follows:
Nine Months Ended
September 30, 2021		 Nine Months Ended
September 30, 2020
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 3,069,797  $ 2,517,613 
Operating cash flows from finance leases 7,225  8,779 
Financing cash flows from finance leases 59,285  40,168 
Non-cash transactions: ROU assets obtained in exchange for lease liabilities
Operating lease $ 6,232,875  $ 919,607 
Finance lease 15,140  201,423 
Schedule of Lessee, Operating Lease, Liability, Maturity Maturities of lease liabilities as of September 30, 2021 are as follows:
Operating Leases Finance Lease
2021 (remainder) $ 1,242,724  $ 22,824 
2022 5,149,264  54,371 
2023 4,491,076  27,600 
2024 3,915,068  27,600 
2025 3,470,504  27,600 
Thereafter 4,445,546  11,500 
Total lease payments $ 22,714,182  $ 171,495 
Less: Imputed interest (3,862,305) (12,664)
Total lease obligations 18,851,877  158,831 
Less: Current obligations (3,874,451) (64,944)
Long-term lease obligation $ 14,977,426  $ 93,887 
Schedule of Finance Lease, Liability, Maturity Maturities of lease liabilities as of September 30, 2021 are as follows:
Operating Leases Finance Lease
2021 (remainder) $ 1,242,724  $ 22,824 
2022 5,149,264  54,371 
2023 4,491,076  27,600 
2024 3,915,068  27,600 
2025 3,470,504  27,600 
Thereafter 4,445,546  11,500 
Total lease payments $ 22,714,182  $ 171,495 
Less: Imputed interest (3,862,305) (12,664)
Total lease obligations 18,851,877  158,831 
Less: Current obligations (3,874,451) (64,944)
Long-term lease obligation $ 14,977,426  $ 93,887