Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the Company’s leases were as follows (in thousands):

 

    Three Months Ended  
    March 31,  
    2021     2020  
Operating Lease:                
Lease cost   $ 111     $ 114  
                 
Finance Leases:                
Amortization of ROU assets     59       26  
Interst on lease liablity     19       21  
      78       47  
                 
Short-term lease rent expense     3       3  
                 
Total lease cost   $ 192     $ 164  

Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at March 31, 2021 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     7.8       3.4  
                 
Weighted average discount rate     7.8 %     6.8 %

 

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at March 31, 2020 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     8.6       1.6  
                 
Weighted average discount rate     8.0 %     12.1 %

Schedule of Operating Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at March 31, 2021 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases   Finance Leases  
2021 (Remaining)   $ 296   $ 458  
2022     455     271  
2023     463     150  
2024     395     146  
2025     304     146  
2025 and thereafter     1,154     18  
Total undiscounted lease payments     3,067     1,189  
Less: Imputed interest     (782 )   (113 )
Present value of lease payments   $ 2,285   $ 1,076  
               
Current portion of operating lease obligations   $ 241   $ —  
Long-term operating lease obligations, less current portion   $ 2,044     —  
Current portion of finance lease obligations   $ —   $ 467  
Long-term finance lease obligations, less current portion   $ —   $ 609  

Schedule of Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at March 31, 2021 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases   Finance Leases  
2021 (Remaining)   $ 296   $ 458  
2022     455     271  
2023     463     150  
2024     395     146  
2025     304     146  
2025 and thereafter     1,154     18  
Total undiscounted lease payments     3,067     1,189  
Less: Imputed interest     (782 )   (113 )
Present value of lease payments   $ 2,285   $ 1,076  
               
Current portion of operating lease obligations   $ 241   $ —  
Long-term operating lease obligations, less current portion   $ 2,044     —  
Current portion of finance lease obligations   $ —   $ 467  
Long-term finance lease obligations, less current portion   $ —   $ 609  

Schedule of Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to our leases were as follows (in thousands):

 

    Three Months Ended  
    March 31,  
    2021     2020  
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flow from operating leases   $ 101     $ 110  
Operating cash flow from finance leases   $ 19     $ 21  
Financing cash flow from finance leases   $ 114     $ 101  
                 
ROU assets obtained in exchange for lease obligations for:                
Finance liabilities   $ —     $ 82  
Operating liabilities   $ —     $ —