Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
12 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Components of Lease Cost



 

 



2020

Finance lease cost:

 

 

Amortization of right-of-use assets

$

8,713 

Interest on lease liabilities

 

5,189 

Operating lease cost

 

496,803 

Short-term lease cost

 

7,452 

Variable lease cost

 

153,852 

Sublease income

 

(179,915)

Total lease cost

$

492,094 



Summary of Lease Information



 



2020

Operating Leases

 

Weighted-average remaining lease term

3.6

Weighted-average discount rate

11.5%

Finance Leases

 

Weighted-average remaining lease term

1.4

Weighted average discount rate

13.9%



Schedule of Maturities of Lease Liabilities



 

 

 

 

 

 

 

 



Operating

 

Finance

 

Sublease



Leases

 

Leases

 

Income

Fiscal year ended September 30,

 

 

 

 

 

 

 

 

2021

$

621,661 

 

$

22,200 

 

$

198,668 

2022

 

520,086 

 

 

9,496 

 

 

203,583 

2023

 

424,152 

 

 

 —

 

 

190,749 

2024

 

196,963 

 

 

 —

 

 

 —

2025

 

169,577 

 

 

 —

 

 

 —

Thereafter

 

 —

 

 

 —

 

 

 —

Total lease payments

 

1,932,439 

 

 

31,696 

 

$

593,000 

Less imputed interest

 

(355,650)

 

 

(3,168)

 

 

 

Total lease liabilities

$

1,576,789 

 

$

28,528 

 

 

 



Schedule of Future Minimum Payments Under Leases



 

 

 

 

 

 

 

 



Operating

 

Sublease

 

 



Leases

 

Income

 

Net Total



 

 

 

 

 

 

 

 

2020

$

469,002 

 

$

193,753 

 

$

275,249 

2021

 

433,751 

 

 

198,668 

 

 

235,083 

2022

 

337,456 

 

 

203,584 

 

 

133,872 

2023

 

114,493 

 

 

190,749 

 

 

(76,256)

2024

 

11,238 

 

 

 —

 

 

11,238 

Total minimum lease payments

$

1,365,940 

 

$

786,754 

 

$

579,186