Lease Payable (Tables)

12 Months Ended

Dec. 31, 2019

The components of rent expense and supplemental cash flow information related to leases for the period are as follows:

	Year ended December 31, 2019
Lease Cost
Operating lease cost (included in general and administration in the Company’s statement of operations)	$	180,000

Other Information
Cash paid for amounts included in the measurement of lease liabilities during the year ended December 31, 2019	$	-
Weighted average remaining lease term – operating leases (in years)		3.50
Average discount rate – operating leases		10.0	%

The supplemental balance sheet information related to leases for the period is as follows:

	At December 31, 2019
Operating leases
ROU assets, net of accumulated amortization of $117,618 and an impairment charge of $100,000	$	427,407

Current operating lease liabilities	$	133,188
Long-term operating lease liabilities		422,525
Total operating lease liabilities	$	555,713

Maturities of the Company’s lease liabilities are as follows:

Year Ending	Operating Leases
2020	$	182,250
2021		189,000
2022		189,000
2023		94,500
2024		-
Total lease payments		654,750
Less: Imputed interest/present value discount		(99,037	)
Present value of lease liabilities	$	555,713

Generation Alpha, Inc. 10-K