Leases |
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Mar. 31, 2020 | |||||||||||||||||||||||||||||||
| Disclosure Text Block [Abstract] | |||||||||||||||||||||||||||||||
| Leases of Lessee Disclosure [Text Block] | Note 5 — Leases: The Company entered into a seven-year operating lease agreement in March 2020 for an office space at 300 Connell Drive, Berkeley Heights, New Jersey 07922. The lease agreement, with a monthly average cost of approximately $17,000, is expected to commence in the third quarter of 2020 upon the Company’s occupation of the premises. The Company entered into an operating lease for office space in Germany that began in July 2017. The rental agreement has a three-month term which automatically renews and includes a monthly cost of 400 Euros. The Company elected to apply the short-term practical expedient to the office lease. The Company also has an operating lease for office equipment. Operating lease expense in the Company’s condensed consolidated statements of operations and comprehensive loss for each of the three months ended March 31, 2020 and 2019 was approximately $2,000, which includes costs associated with leases for which ROU assets have been recognized as well as short-term leases. At March 31, 2020, the Company has a total operating lease liability of $3,500. Approximately $1,500 and $2,000, respectively, are included in accrued expenses and operating lease liabilities, net of current portion on the condensed consolidated balance sheet. Operating ROU assets as of March 31, 2020 are $4,000 and are included in property and equipment, net on the condensed consolidated balance sheet. For each of the three months ended March 31, 2020 and 2019, cash paid for amounts included in the measurement of lease liabilities in operating cash flows from operating leases was $2,000. The weighted average remaining lease term as of March 31, 2020 and 2019 were 2.3 and 2.8 years, respectively, and the weighted average discount rate for operating leases was 10.0% each as of March 31, 2020 and 2019. As of March 31, 2020, maturities of lease liabilities were as follows:
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