Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the Company’s leases for the three months ended March 31, 2019 were (in thousands):

 

Operating Leases:      
Lease cost   $ 104  
         
Finance Leases:        
Amortization of ROU assets     9  
Interest on lease liablity     12  
      21  
         
Short-term lease rent expense     49  
         
Total lease cost   $ 174  

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, 2019 was:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     9.7       1.8  
                 
Weighted average discount rate     8.0 %     11.1 %

Schedule of Operating Lease Liability Maturity

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

 

    Operating Leases     Finance Leases  
2019 Remainder   $ 298     $ 213  
2020     403       336  
2021     411       27  
2022     418        ―  
2023     425        ―  
2024 and thereafter     1,768        ―  
Total undiscounted lease payments     3,723       576  
Less: Imputed interest     (1,147 )     (61 )
Present value of lease payments   $ 2,576     $ 515  
                 
Current portion of operating lease obligations   $ 199     $ ―  
Long-term operating lease obligations, less current portion   $ 2,377     $ ―  
Current portion of finance lease obligations   $  ―     $ 239  
Long-term finance lease obligations, less current portion   $  ―     $ 276  

Schedule of Finance Lease Liability Maturity

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

 

    Operating Leases     Finance Leases  
2019 Remainder   $ 298     $ 213  
2020     403       336  
2021     411       27  
2022     418        ―  
2023     425        ―  
2024 and thereafter     1,768        ―  
Total undiscounted lease payments     3,723       576  
Less: Imputed interest     (1,147 )     (61 )
Present value of lease payments   $ 2,576     $ 515  
                 
Current portion of operating lease obligations   $ 199     $ ―  
Long-term operating lease obligations, less current portion   $ 2,377     $ ―  
Current portion of finance lease obligations   $  ―     $ 239  
Long-term finance lease obligations, less current portion   $  ―     $ 276  
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 period ended March 31, 2019 (in thousands):

 

Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flow from operating leases   $ 98  
Operating cash flow from finance leases   $ 12  
Financing cash flow from finance leases   $ 44  
         
ROU assets obtained in exchange for lease obligations for:        
Finance liabilities   $ 138  
Operating liabilities   $  ―