Gaucho Group Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases

Leases

3 Months Ended

Mar. 31, 2020

13. LEASES

The Company leases one corporate office through an operating lease agreement. The Company has an obligation for its corporate office located in New York, New York, which expires August 31, 2020. As of March 31, 2020, the lease had a remaining term of approximately 0.4 years. See Note 16 - Subsequent Events for details regarding the termination of such lease.

As of March 31, 2020, the Company had no leases that were classified as a financing lease and did not have any additional operating and financing leases that have not yet commenced.

Total operating lease expenses were $57,816 for each of the three months ended March 31, 2020 and 2019, and is recorded in general and administrative expenses on the condensed consolidated statements of operations.

Supplemental cash flows information related to leases was as follows:

	For the three months ended
	March 31,
	2020			2019

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	61,284		$	59,499

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	-		$	361,020

Weighted Average Remaining Lease Term:
Operating leases		0.42 years			1.42 years

Weighted Average Discount Rate:
Operating leases		8.0	%		8.0	%