Quarterly report pursuant to Section 13 or 15(d)

Debt, Commitments and Contingencies (Tables)

v3.19.2
Debt, Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Debt

Debt consists of the following:

 

    Maturity     Interest     June 30,     December 31,  
    Date     Rate     2019     2018  
Convertible Note     12/31/2019       5 %   $ 999,106     $ 999,106  
Less: debt discount     and 12/31/2019               -       -  
Total Convertible notes, net of discount                   $ 999,106     $ 999,106  
                                 
Total                   $ 999,106     $ 999,106  
Less: current portion                     (999,106 )     (999,106 )
Total, net of current portion                   $ -     $ -  
Schedule of Components of Lease Cost

The Company’s total lease expense is comprised of the following:

 

    For the Six
Months Ended
June 30, 2019
 
Operating leases        
Operating lease cost   $ 53,311  
Operating lease expense     53,311  
Short-term lease rent expense     9,948  
Total rent expense   $ 63,259
Schedule of Weighted Average Lease

Additional information regarding the Company’s leasing activities as a lessee is as follow:

 

    For the Six
Months Ended
June 30, 2019
 
Operating cash flows from operating leases   $ 52,314  
Weighted-average remaining lease term – operating leases     1.8  
Weighted-average discount rate – operating leases     6.5 %
Schedule of Minimum Lease Payments

As of June 30, 2019, contractual minimal lease payments are as follows:

 

2019   $ 43,824  
2020     96,412  
2021     96,412  
2022     26,294  
Total     262,942  
Less present value discount     (22,756 )
Operating lease liabilities   $ 240,186