Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the Company’s leases for the three and nine months ended September 30, 2020 and 2019 were as follows (in thousands):

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
                         
Operating Leases:                                
Lease cost   $ 114     $ 114     $ 342     $ 342  
                                 
Finance Leases:                                
Amortization of ROU assets     109       20       161       39  
Interest on lease liability     47       15       97       40  
      156       35       258       79  
                                 
Short-term lease rent expense     3       41       7       113  
                                 
Total lease cost   $ 273     $ 190     $ 607     $ 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, 2020 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     8.2       3.4  
                 
Weighted average discount rate     8.0 %     7.9 %
Schedule of Operating Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2020 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2020 Remainder   $ 112     $ 263  
2021     450       554  
2022     458       272  
2023     466       149  
2024     342       146  
2025 and thereafter     1,457       164  
Total undiscounted lease payments     3,285       1,548  
Less: Imputed interest     (879 )     (158 )
Present value of lease payments   $ 2,406     $ 1,390  
                 
Current portion of operating lease obligations   $ 265     $ —  
Long-term operating lease obligations, less current portion   $ 2,141     $ —  
Current portion of finance lease obligations   $ —     $ 675  
Long-term finance lease obligations, less current portion   $ —     $ 715  
Schedule of Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2020 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2020 Remainder   $ 112     $ 263  
2021     450       554  
2022     458       272  
2023     466       149  
2024     342       146  
2025 and thereafter     1,457       164  
Total undiscounted lease payments     3,285       1,548  
Less: Imputed interest     (879 )     (158 )
Present value of lease payments   $ 2,406     $ 1,390  
                 
Current portion of operating lease obligations   $ 265     $ —  
Long-term operating lease obligations, less current portion   $ 2,141     $ —  
Current portion of finance lease obligations   $ —     $ 675  
Long-term finance lease obligations, less current portion   $ —     $ 715  
Schedule of Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to our leases were as follows for the three and nine months ended September 30, 2020 and 2019 (in thousands):

 

    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flow used in operating leases   $ 111     $ 109     $ 331     $ 326  
Operating cash flow used in finance leases   $ 47     $ 15     $ 97     $ 40  
Financing cash flow used in finance leases   $ 182     $ 73     $ 411     $ 174  
                                 
ROU assets obtained in exchange for lease obligations for:                                
Finance liabilities   $ 751     $ 390     $ 874     $ 528  
Operating liabilities   $ —       —       —       182