Quarterly report pursuant to Section 13 or 15(d)

K. COMMITMENTS AND CONTINGENCIES (Tables)

v3.19.2
K. COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Jun. 30, 2019
Components of lease expense
Operating lease expense:      
Operating lease cost - fixed   $ 118,949  
Variable lease cost     61,883  
Total operating lease cost   $ 180,832  
Other information related to leases
Operating lease liability - current   $ 218,614  
Operating lease liability - long-term   $ 830,907  
Operating cash outflows from operating leases   $ 109,794  
         
Weighted-average remaining lease term of operating leases     6.1 years  
Weighted-average discount rate of operating leases     8.5%  
Future annual minimum operating lease payments
2019 (excluding the six months ended June 30, 2019)   $ 110,005  
2020     223,835  
2021     242,299  
2022     195,176  
2023     193,169  
2024 and thereafter     384,119  
Total minimum lease payments   $ 1,348,603  
Less imputed interest     (299,082 )
Total   $ 1,049,521  
Sales tax accrual
    June 30,
2019		     December 31,
2018		  
Balance, beginning of year   $ 43,400     $ 83,282  
Sales tax collected     92,226       101,145  
Provisions     (3,544 )     30,465  
Interest and penalties     –       –  
Payments     (63,707 )     (171,492 )
Balance, end of period   $ 68,375     $ 43,400  
Accounting Standards Update 2016-02 [Member]  
Future annual minimum operating lease payments
2019   $ 211,448  
2020     223,417  
2021     242,785  
2022     195,176  
2023     193,168  
2024 and thereafter     380,714  
Total   $ 1,446,708