Quarterly report pursuant to Section 13 or 15(d)

Right of Use Assets and Liabilities (Tables)

v3.19.2
Right of Use Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Schedule of Lease Cost
   

Three Months Ended

June 30, 2019

  
Lease Cost        
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)   $ 170,000  
         
Other Information        
Cash paid for amounts included in the measurement of lease liabilities for the second quarter 2019   $ —  
Weighted average remaining lease term – operating leases (in years)     4.05  
Average discount rate – operating leases     8.5 %
Schedule of Operating Leases
  At June 30, 2019  
Operating leases        
Long-term right-of-use assets   $ 1,219,000  
         
Short-term operating lease liabilities   $ 227,000  
Long-term operating lease liabilities     1,003,000  
Total operating lease liabilities   $ 1,230,000  

Schedule of Present Value of Lease Liabilities
Year Ending   Operating Leases  
2019 (remaining 6 months)   $ 170,000  
2020     348,000  
2021     341,000  
2022     304,000  
2023     313,000  
Total lease payments     1,476,000  
Less: Imputed interest/present value discount     (246,000 )
Present value of lease liabilities   $ 1,230,000