Quarterly report pursuant to Section 13 or 15(d)

Operating Lease (Tables)

v3.20.1
Operating Lease (Tables)
6 Months Ended
Mar. 31, 2020
Operating Lease  
Shedule of lease expense

Lease cost   Six Months
Ended
March 31,
2020
 
Operating lease cost   $ 126,844  
Variable lease cost      
Total lease cost   $ 126,844  
         
Other information        
Weighted-average remaining lease term - operating leases     5.6 Years  
Weighted-average discount rate - operating leases     8.0  
Shedule of maturities of lease liabilities due under the Company's current Cranford lease

Year Ending September 30,   March 31,
2020
 
2020 (excluding the 6 months ended March 31, 2020)   $ 115,401  
2021     234,447  
2022     239,306  
2023     244,165  
2024     249,024  
Thereafter     275,343  
Total lease payments     1,357,686  
Less: interest     (270,120 )
Present value of lease liabilities   $ 1,087,566  

 

Leases   Classification   March 31,
2020
 
Assets          
Lease asset   Operating   $ 1,055,877  
Total lease assets       $ 1,055,877  
             
Liabilities            
Current   Operating   $ 150,411  
Non-current   Operating     937,155  
Total lease liabilities       $ 1,087,566