Annual report pursuant to Section 13 and 15(d)

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

v3.21.1
Right-of-use Assets and Operating Lease Liabilities (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Lease Cost
   

Period Ended

December 31, 2020

   

Period Ended

December 31, 2019

 
Lease cost                
Operating lease cost (included in general and administration in the Company’s statement of operations)   $ 520,000     $ 499,000  
                 
Other information                
                 
Cash paid for amounts included in the measurement of lease liabilities   $ 577,000     $ 366,000  
Weighted average remaining lease term – operating leases (in years)     4.54       5.25  
Average discount rate – operating leases     4.0 %     4.0 %
Schedule of Operating Leases
    December 31, 2020     December 31, 2019  
Operating leases                
Right-of-use assets   $ 2,730,000     $ 3,275,000  
                 
Short-term operating lease liabilities   $ 596,000     $ 391,000  
Long-term operating lease liabilities     2,943,000       3,591,000  
Total operating lease liabilities   $ 3,539,000     $ 3,982,000  
Schedule of Present Value of Lease Liabilities
Year ending   Operating Leases  
2021     776,000  
2022     751,000  
2023     773,000  
2024     472,000  
2025 and thereafter     1,189,000  
Total lease payments     3,961,000  
Less: Imputed interest/present value discount     (422,000 )
Present value of lease liabilities   $ 3,539,000