Quarterly report pursuant to Section 13 or 15(d)

Right of Use Assets and Liabilities (Tables)

v3.19.3
Right of Use Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of Lease Cost

   

Nine Months Ended

September 30, 2019

  
Lease cost        
Operating lease cost (included in general and administrative in the Company’s unaudited condensed statement of operations)   $ 281,000  
         
Other information        
Cash paid for amounts included in the measurement of lease liabilities   $ —  
Weighted average remaining lease term – operating leases (in years)     5.44  
Average discount rate – operating leases     8.5 %

Schedule of Operating Leases

    At September 30, 2019  
Operating leases        
Long-term right-of-use assets   $ 2,986,000  
         
Short-term operating lease liabilities   $ 311,000  
Long-term operating lease liabilities     3,296,000  
Total operating lease liabilities   $ 3,607,000  

Schedule of Present Value of Lease Liabilities

Year ending   Operating Leases  
2019 (remaining 3 months)   $ 85,000  
2020     687,000  
2021     775,000  
2022     750,000  
2023     771,000  
2024 and thereafter     1,653,000  
Total lease payments     4,721,000  
Less: Imputed interest/present value discount     (1,114,000 )
Present value of lease liabilities   $ 3,607,000