Lease (Tables)
|
6 Months Ended |
Jun. 30, 2019 |
|---|
| Leases [Abstract] |
|
| Schedule of Operating and Finance Leases Discount Rates, Total Lease Cost and Weighted Average Remaining Lease Terms |
Weighted average discount rates for operating and finance leases are as follows:
|
|
|
|
Operating Leases |
7.32 |
% |
Finance Leases |
11.88 |
% |
Weighted average remaining lease terms for operating and finance leases as of June 30, 2019 are as follows:
|
|
|
Operating Leases |
204 months |
Finance Leases |
30 months |
Individual components of the total lease cost incurred by the Company is as follows:
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
June 30, 2019 |
|
June 30, 2019 |
Operating lease cost |
$ |
1,027,998 |
|
|
$ |
2,055,996 |
|
Finance lease cost: |
|
|
|
Amortization of right-of-use assets |
43,714 |
|
|
87,428 |
|
Interest on finance lease liabilities |
22,147 |
|
|
45,864 |
|
Total lease cost |
$ |
1,093,859 |
|
|
$ |
2,189,288 |
|
|
| Schedule of Operating and Finance Leases Recorded in Consolidated Balance Sheet |
Operating and finance lease amounts included in the Consolidated Balance Sheet are as follows:
|
|
|
|
|
|
|
|
Financial Statement Line Item |
|
Classification |
|
June 30, 2019 |
|
Right-of-use assets, operating leases |
|
Assets |
|
$ |
36,428,751 |
|
Right-of-use assets, finance leases |
|
Assets |
|
488,347 |
|
Current lease liabilities, operating leases |
|
Current liabilities |
|
3,526,011 |
|
Current lease liabilities, finance leases |
|
Current liabilities |
|
248,589 |
|
Non-current lease liabilities, operating leases |
|
Non-current liabilities |
|
34,139,854 |
|
Non-current lease liabilities, finance leases |
|
Non-current liabilities |
|
457,933 |
|
|
| Schedule of Maturities For Operating Leases After Adoption of 842 |
The amounts of undiscounted future minimum lease payments under leases as of June 30, 2019 are as follows:
|
|
|
|
|
|
|
|
|
|
Operating |
|
Finance |
2019 (excluding the six months ending June 30, 2019) |
1,754,079 |
|
|
$ |
153,993 |
|
2020 |
3,562,092 |
|
|
329,534 |
|
2021 |
3,635,376 |
|
|
335,462 |
|
2022 |
3,672,731 |
|
|
11,998 |
|
2023 |
3,563,383 |
|
|
— |
|
Thereafter |
52,188,270 |
|
|
— |
|
Total undiscounted minimum future lease payments |
68,375,931 |
|
|
830,987 |
|
Imputed Interest |
30,710,066 |
|
|
124,465 |
|
Total lease liabilities recorded as of June 30, 2019 |
$ |
37,665,865 |
|
|
$ |
706,522 |
|
|
| Schedule of Maturities For Finance Leases After Adoption of 842 |
The amounts of undiscounted future minimum lease payments under leases as of June 30, 2019 are as follows:
|
|
|
|
|
|
|
|
|
|
Operating |
|
Finance |
2019 (excluding the six months ending June 30, 2019) |
1,754,079 |
|
|
$ |
153,993 |
|
2020 |
3,562,092 |
|
|
329,534 |
|
2021 |
3,635,376 |
|
|
335,462 |
|
2022 |
3,672,731 |
|
|
11,998 |
|
2023 |
3,563,383 |
|
|
— |
|
Thereafter |
52,188,270 |
|
|
— |
|
Total undiscounted minimum future lease payments |
68,375,931 |
|
|
830,987 |
|
Imputed Interest |
30,710,066 |
|
|
124,465 |
|
Total lease liabilities recorded as of June 30, 2019 |
$ |
37,665,865 |
|
|
$ |
706,522 |
|
|
| Schedule of Undiscounted Future Minimum Lease Payments for Operating Leases Before Adoption of 842 |
Undiscounted future minimum lease payments under non-cancellable operating and capital leases as of December 31, 2018 accounted for under ASC 840 "Leases" were as follows:
|
|
|
|
|
|
|
|
|
|
Operating |
|
Capital |
2019 |
$ |
3,207,053 |
|
|
$ |
354,299 |
|
2020 |
3,243,694 |
|
|
329,534 |
|
2021 |
3,238,745 |
|
|
335,462 |
|
2022 |
3,224,810 |
|
|
11,998 |
|
2023 |
3,102,815 |
|
|
— |
|
Thereafter |
45,337,403 |
|
|
— |
|
Total undiscounted minimum future operating lease payments |
|
|
|
1,031,293 |
|
Imputed Interest |
|
|
|
164,826 |
|
Total lease liabilities recorded as of December 31, 2018 |
|
|
$ |
866,467 |
|
|
| Schedule of Undiscounted Future Minimum Lease Payments for Capital Leases Before Adoption of 842 |
Undiscounted future minimum lease payments under non-cancellable operating and capital leases as of December 31, 2018 accounted for under ASC 840 "Leases" were as follows:
|
|
|
|
|
|
|
|
|
|
Operating |
|
Capital |
2019 |
$ |
3,207,053 |
|
|
$ |
354,299 |
|
2020 |
3,243,694 |
|
|
329,534 |
|
2021 |
3,238,745 |
|
|
335,462 |
|
2022 |
3,224,810 |
|
|
11,998 |
|
2023 |
3,102,815 |
|
|
— |
|
Thereafter |
45,337,403 |
|
|
— |
|
Total undiscounted minimum future operating lease payments |
|
|
|
1,031,293 |
|
Imputed Interest |
|
|
|
164,826 |
|
Total lease liabilities recorded as of December 31, 2018 |
|
|
$ |
866,467 |
|
|