Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2019
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     Nine Months Ended  
    September 30, 2019     September 30, 2019  
             
Operating Leases:                
Lease cost   $      114     $     342  
                 
Finance Leases:                
Amortization of ROU assets     20       39  
Interest on lease liability     15       40  
      35       79  
Short-term lease rent expense     41       113  
                 
Total lease cost   $ 190     $ 534  

Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at September 30, 2019 was:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     9.0       2.1  
                 
Weighted average discount rate     8.0 %     11.6 %

Schedule of Operating Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2019 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2019 Remainder   $ 108     $ 103  
2020     443       433  
2021     450       124  
2022     459       105  
2023     466        ―  
2024 and thereafter     1,799        ―  
Total undiscounted lease payments     3,725       765  
Less: Imputed interest     (1,082 )     (95 )
Present value of lease payments   $ 2,643     $ 670  
                 
Current portion of operating lease obligations   $ 237     $  ―  
Long-term operating lease obligations, less current portion   $ 2,406     $  ―  
Current portion of finance lease obligations   $  ―     $ 319  
Long-term finance lease obligations, less current portion   $  ―     $ 351  

Schedule of Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2019 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2019 Remainder   $ 108     $ 103  
2020     443       433  
2021     450       124  
2022     459       105  
2023     466        ―  
2024 and thereafter     1,799        ―  
Total undiscounted lease payments     3,725       765  
Less: Imputed interest     (1,082 )     (95 )
Present value of lease payments   $ 2,643     $ 670  
                 
Current portion of operating lease obligations   $ 237     $  ―  
Long-term operating lease obligations, less current portion   $ 2,406     $  ―  
Current portion of finance lease obligations   $  ―     $ 319  
Long-term finance lease obligations, less current portion   $  ―     $ 351  

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     Nine Months Ended  
    September 30, 2019     September 30, 2019  
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flow used in operating leases   $ 109     $ 326  
Operating cash flow used in finance leases   $ 15     $ 40  
Financing cash flow used in finance leases   $ 73     $      174  
                 
ROU assets obtained in exchange for lease obligations for:                
Finance liabilities   $      390     $ 528  
Operating liabilities   $  ―     $ 182