Annual report pursuant to Section 13 and 15(d)

Leases

v3.20.2
Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases

NOTE 3. LEASES

 

As of December 31, 2019, operating leases and finance leases are included in the Consolidated Balance Sheets as follows:

 

    Classification      
Lease assets            
Operating right-of-use assets, net       $ 1,038  
Finance right-of-use assets, net   Property, plant and equipment, net      
Total lease assets       $ 1,038  
Lease Liabilities            
Operating lease liabilities, current       $ 557  
Operating lease liabilities, non-current         482  
Finance lease liabilities, current   Notes payable, current portion, net of original issue discount and deferred financing fees     69  
Finance lease liabilities, non-current   Notes payable and financing leases, non-current portion, net of original issue discount and deferred financing fees     44  
Total lease liabilities       $ 1,152  

 

Rental expense, resulting from property lease agreements, for the year ended December 31, 2018 was approximately $1,373. Operating lease costs are recorded on a straight-line basis over the lease term. The components of lease cost from continuing operations recognized within the Consolidated Statements of Operations were as follows for the year ended December 31, 2019:

 

Operating leases      
Operating lease costs   $ 657  
Variable lease costs      
Short-term lease costs      
Total operating lease costs   $ 657  

 

Maturities of lease liabilities as of December 31, 2019 are as follows:

 

    Operating     Finance     Total  
Year ended December 31, 2020   $ 909     $ 76     $ 985  
Year ended December 31, 2021     762       31       793  
Year ended December 31, 2022     239       15       254  
Year ended December 31, 2023                  
Year ended December 31, 2024                  
Year ended December 31, 2025 and Thereafter                  
Total lease payments     1,910       122       2,032  
Less imputed lease interest     (871 )     (9 )     (880 )
Total lease liabilities   $ 1,039     $ 113     $ 1,152  

 

Minimum lease payments under ASC 840, Leases, as of December 31, 2018, are as follows:

 

2019     402  
2020     280  
2021     269  
2022     239  
2023      
Thereafter      
Total Lease Obligations   $ 1,190  

 

Additional information related to our leasing arrangements is presented as follows:

 

    Year ended December 31, 2019  
    Operating
leases
    Financing
leases
 
Weighted average remaining lease term     1.74     $ 1.78  
Weighted average discount rate     16 %     8 %
Operating cash flows from operating leases     746        
Financing cash flows from financing leases           (527 )