Quarterly report pursuant to Section 13 or 15(d)

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

v3.20.2
OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Right-of-use asset
    As of
June 30, 2020
 

As of

December 31, 2019

      (Unaudited)       (As Restated- see Note 14)  
Farm lease, ROU Asset   $ 506,506     $ 506,506  
Less: Accumulated amortization     (195,812 )     (115,696 )
                 
Balance of ROU asset   $ 310,694     $ 390,810  
Operating lease liability
    As of
June 30, 2020
  As of December 31, 2019
      (Unaudited)       (As Restated- see Note 14)  
Farm lease   $ 506,506     $ 506,506  
Reduction of lease liability     (195,811 )     (115,695 )
Total     310,695       390,811  
Less: current portion     (178,541 )     (169,869 )
Long term portion of lease liability   $ 132,154     $ 220,942  
Minimum lease payments under non-cancelable operating lease
Year ended December 31, 2020   $ 196,000  
Year ended December 31, 2021     196,000  
Year ended December 31, 2022     45,336  
Total     437,336  
Less: undiscounted payments during the six months ended June 30, 2020     (98,004 )
Total undiscounted future minimum lease payments due as of June 30, 2020     339,332  
Imputed interest     (28,637 )
Total operating lease liability   $ 310,695