Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2020
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, 2020 and 2019 were (in thousands):

 

     Three Months Ended  
    March 31,  
    2020     2019  
Operating Lease:                
Lease cost   $ 114     $ 104  
                 
Finance Leases:                
Amortization of ROU assets     26       9  
Interst on lease liablity     21       12  
      47       21  
                 
Short-term lease rent expense     3       49  
                 
Total lease cost   $ 164     $ 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, 2020 was:

 

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

 

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, 2020 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2020 Remainder   $ 333     $ 512  
2021     450       395  
2022     458       113  
2023     466        ―  
2024     342        ―  
2025 and thereafter     1,458        ―  
Total undiscounted lease payments     3,507       1,020  
Less: Imputed interest     (978 )     (100 )
Present value of lease payments   $ 2,529     $ 920  
                 
Current portion of operating lease obligations   $ 251     $  ―  
Long-term operating lease obligations, less current portion   $ 2,278     $  ―  
Current portion of finance lease obligations   $  ―     $ 510  
Long-term finance lease obligations, less current portion   $  ―     $ 410  

Schedule of Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at March 31, 2020 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2020 Remainder   $ 333     $ 512  
2021     450       395  
2022     458       113  
2023     466        ―  
2024     342        ―  
2025 and thereafter     1,458        ―  
Total undiscounted lease payments     3,507       1,020  
Less: Imputed interest     (978 )     (100 )
Present value of lease payments   $ 2,529     $ 920  
                 
Current portion of operating lease obligations   $ 251     $  ―  
Long-term operating lease obligations, less current portion   $ 2,278     $  ―  
Current portion of finance lease obligations   $  ―     $ 510  
Long-term finance lease obligations, less current portion   $  ―     $ 410  

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 months ended March 31, 2020 and March 31, 2019 (in thousands):

 

    Three Months Ended  
    March 31,  
    2020     2019  
Cash paid for amounts included in the measurement of lease liabilities:            
Operating cash flow from operating leases   $ 110     $ 98  
Operating cash flow from finance leases   $ 21     $ 12  
Financing cash flow from finance leases   $ 101     $ 44  
                 
ROU assets obtained in exchange for lease obligations for:                
Finance liabilities   $ 82     $ 138  
Operating liabilities   $  ―     $  ―