Quarterly report pursuant to Section 13 or 15(d)

Operating Lease (Tables)

v3.20.2
Operating Lease (Tables)
9 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Shedule of lease expense

Lease cost   Nine Months
Ended
June 30,
2020
 
Operating lease cost   $ 167,725  
Variable lease cost      
Total lease cost   $ 167,725  
         
Other information        
Weighted-average remaining lease term - operating leases     5.3 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,   June 30,
2020
 
2020 (excluding the 9 months ended June 30, 2020)   $ 58,308  
2021     234,447  
2022     239,306  
2023     244,165  
2024     249,024  
Thereafter     275,343  
Total lease payments     1,300,593  
Less: interest     (248,605 )
Present value of lease liabilities   $ 1,051,988  

 

Leases   Classification   June 30,
2020
 
Assets          
Lease asset   Operating   $ 1,025,119  
Total lease assets       $ 1,025,119  
             
Liabilities            
Current   Operating   $ 154,663  
Non-current   Operating     897,325  
Total lease liabilities       $ 1,051,988