Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

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

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

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2020     2019     2020     2019  
                         
Operating Leases:                                
Lease cost   $ 114     $ 124     $ 228     $ 228  
                                 
Finance Leases:                                
Amortization of ROU assets     26       10       52       19  
Interest on lease liability     29       13       50       25  
      55       23       102       44  
                                 
Short-term lease rent expense     1       23       4       72  
                                 
Total lease cost     170       170       334       344  
Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at June 30, 2020 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     8.4       1.5  
                 
Weighted average discount rate     8.0 %     11.0 %
Schedule of Operating Lease Liability Maturity

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

 

    Operating Leases     Finance Leases  
2020 Remainder   $ 222     $ 365  
2021     450       405  
2022     458       123  
2023     466       2  
2024     342       ―  
2025 and thereafter     1,457       ―  
Total undiscounted lease payments     3,395       895  
Less: Imputed interest     (928 )     (76 )
Present value of lease payments   $ 2,467     $ 819  
                 
Current portion of operating lease obligations   $ 258     $ ―  
Long-term operating lease obligations, less current portion   $ 2,209     $ ―  
Current portion of finance lease obligations   $ ―     $ 444  
Long-term finance lease obligations, less current portion   $ ―     $ 375  
Schedule of Finance Lease Liability Maturity

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

 

    Operating Leases     Finance Leases  
2020 Remainder   $ 222     $ 365  
2021     450       405  
2022     458       123  
2023     466       2  
2024     342       ―  
2025 and thereafter     1,457       ―  
Total undiscounted lease payments     3,395       895  
Less: Imputed interest     (928 )     (76 )
Present value of lease payments   $ 2,467     $ 819  
                 
Current portion of operating lease obligations   $ 258     $ ―  
Long-term operating lease obligations, less current portion   $ 2,209     $ ―  
Current portion of finance lease obligations   $ ―     $ 444  
Long-term finance lease obligations, less current portion   $ ―     $ 375  
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 six months ended June 30, 2020 and 2019 (in thousands):

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2020     2019     2020     2019  
Cash paid for amounts included in the measurement                                
of lease liabilities:                                
Operating cash flow used in operating leases   $ 110     $ 119     $ 220     $ 217  
Operating cash flow used in finance leases   $ 29     $ 13     $ 50     $ 25  
Financing cash flow used in finance leases   $ 128     $ 57     $ 229     $ 101  
                                 
ROU assets obtained in exchange for lease obligations for:                                
Finance liabilities   $ 41     $ ―        $ 123     $ 138  
Operating liabilities   $  ―          182       ―         182