Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Components of Lease Cost

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

 

    Twelve Months Ended  
    December 31, 2019  
       
Operating Leases:        
Lease cost   $ 456  
         
Finance Leases:        
Amortization of ROU assets     63  
Interest on lease liability     63  
      126  
         
Short-term lease rent expense     43  
         
Total lease cost   $ 625  

Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at December 31, 2019 was:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     8.8       2.0  
                 
Weighted average discount rate     8.0 %     9.3 %

Schedule of Operating Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at December 31, 2019 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2020   $ 442     $ 529  
2021     450       396  
2022     458       113  
2023     466        ―  
2024     342        ―  
2025 and thereafter     1,458        ―  
Total undiscounted lease payments     3,616       1,038  
Less: Imputed interest     (1,030 )     (101 )
Present value of lease payments   $ 2,586     $ 937  

 

Current portion of operating lease obligations   $ 244     $ ―  
Long-term operating lease obligations, less current portion   $ 2,342     $ ―  
Current portion of finance lease obligations   $ ―     $ 471  
Long-term finance lease obligations, less current portion   $ ―     $ 466  

Schedule of Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at December 31, 2019 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2020   $ 442     $ 529  
2021     450       396  
2022     458       113  
2023     466        ―  
2024     342        ―  
2025 and thereafter     1,458        ―  
Total undiscounted lease payments     3,616       1,038  
Less: Imputed interest     (1,030 )     (101 )
Present value of lease payments   $ 2,586     $ 937  

 

Current portion of operating lease obligations   $ 244     $ ―  
Long-term operating lease obligations, less current portion   $ 2,342     $ ―  
Current portion of finance lease obligations   $ ―     $ 471  
Long-term finance lease obligations, less current portion   $ ―     $ 466  

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):

 

    Twelve Months Ended  
    December 31, 2019  
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flow used in operating leases   $ 434  
Operating cash flow used in finance leases   $ 63  
Financing cash flow used in finance leases   $ 272  
         
ROU assets obtained in exchange for lease obligations for:        
Finance liabilities   $ 893  
Operating liabilities   $ 182