The Company records the fair value of the liability in the condensed consolidated balance sheets under the caption “Put Rights” and records changes to the liability against earnings or loss under the caption “Changes in fair value of put rights” in the consolidated statements of operations. The carrying amount at fair value of the aggregate liability for the Put Rights recorded on the condensed consolidated balance sheets at June 30, 2020 and December 31, 2019 was $2,663,237 and $3,003,547, respectively. Due to the change in the fair value of the Put Rights for the period in which the Put Rights were outstanding for the three and six months ending June 30, 2020, the Company recorded a gain of $47,070 and $1,517,810, respectively, and $251,350 and $1,778,376, respectively, for the three and six months ended June 30, 2019, in the condensed consolidated statement of operations.