General form of registration statement for all companies including face-amount certificate companies

Right-of-use Assets and Operating Lease Liabilities (Tables)

v3.20.1
Right-of-use Assets and Operating Lease Liabilities (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Leases [Abstract]    
Schedule of Lease Cost
   

Period Ended

March 31, 2020

  
Lease cost        
Operating lease cost (included in general and administration in the Company’s statement of operations)   $ 175,000  
         
Other information        
Cash paid for amounts included in the measurement of lease liabilities   $ —  
Weighted average remaining lease term – operating leases (in years)     5.11  
Average discount rate – operating leases     4.0 %
   

Year Ended

December 31, 2019

  
Lease cost        
Operating lease cost (included in general and administration in the Company’s statement of operations)   $ 366,000  
         
Other information        
Cash paid for amounts included in the measurement of lease liabilities   $ —  
Weighted average remaining lease term – operating leases (in years)     5.25  
Average discount rate – operating leases     4.0 %
Schedule of Operating Leases
    March 31, 2020  
Operating leases        
Right-of-use assets, net of amortization of $484,000   $ 3,140,000  
         
Short-term operating lease liabilities   $ 505,000  
Long-term operating lease liabilities     3,432,000  
Total operating lease liabilities   $ 3,937,000  
    December 31, 2019  
Operating leases        
Right-of-use assets, net of amortization of $349,000   $  3,275,000  
         
Short-term operating lease liabilities   $ 391,000  
Long-term operating lease liabilities     3,591,000  
Total operating lease liabilities   $ 3,982,000  
Schedule of Present Value of Lease Liabilities  
Year ending   Operating Leases  
2020     597,000  
2021     776,000  
2022     751,000  
2023     773,000  
2024 and thereafter     1,661,000  
Total lease payments     4,558,000  
Less: Imputed interest/present value discount     (576,000 )
Present value of lease liabilities   $ 3,982,000