Annual report pursuant to Section 13 and 15(d)

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)

v3.20.1
OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Right-of-use asset
    December 31, 2019  
Farm lease ROU   $ 506,506  
Commercial lease ROU     1,924,856  
Less accumulated amortization     (258,109 )
Balance of ROU asset as of December 31, 2019   $ 2,173,253  
Operating lease liability
    December 31, 2019  
Farm lease   $ 506,506  
Commercial lease ROU     1,924,856  
Total lease liability     2,431,362  
Reduction of lease liability     (172,410 )
Total     2,258,952  
Less: current portion     (432,065 )
Long term portion of lease liability as of December 31, 2019   $ 1,826,887  
Minimum lease payments under non-cancelable operating lease
Year ended December 31, 2019   $ 270,672  
Year ended December 31, 2020     682,000  
Year ended December 31, 2021     696,580  
Year ended December 31, 2022     560,933  
Year ended December 31, 2023     531,063  
Year ended December 31, 2024     315,140  
Total     3,056,388  
Less: undiscounted payments during the year ended December 31, 2019     (270,672 )
Total undiscounted future minimum lease payments due as of December 31, 2019     2,785,716  
Imputed interest     (526,764 )
Total operating lease liability   $ 2,258,952