Quarterly report pursuant to Section 13 or 15(d)

4. Right of Use Leased Asset

v3.20.2
4. Right of Use Leased Asset
 6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Right of Use Leased Asset

Note 4: Right Of Use Leased Asset

 

Right of use asset consisted of the following as of June 30, 2020 and December 31, 2019:

 

   

June 30,

2020

    

December 31,

2019

  
Office Lease Asset   $ 2,155,237     $ 2,155,237  
Printer Lease Asset     2,245,093       2,245,093  
Right Of Use Asset, Gross     4,400,330       4,400,330  
                 
Office Lease Accumulated Amortization     (436,128 )     (321,773 )
Printer Lease Accumulated Amortization     (172,069 )     (68,720 )
Right Of Use Asset, Net   $ 3,792,133     $ 4,009,837  

 

During the three months ended June 30, 2020 and June 30, 2019, the Company recorded amortization expense of $109,458 and $37,059, respectively. During the six months ended June 30, 2020 and June 30, 2019, the Company recorded amortization expense of $217,704 and $214,101, respectively.