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Leases
 9 Months Ended
Sep. 30, 2020
Leases  
9. Leases

Note 9. Leases

 

Operating Leases

 

On August 3, 2020, the Company entered into a lease amendment to lease additional space located in Longmont, Colorado.  The lease amendment extends the expiration of the lease period from February 2024 to December 2025.  Pursuant to the lease amendment, the Company will make additional total lease payments of approximately $0.9 million during the term of the lease.

 

As of September 30, 2020, the Company had operating lease assets in right of use assets of approximately $1.3 million and corresponding operating lease liabilities of approximately $1.7 million.  For the three and the nine months ended September 30, 2020 and September 30, 2019, the following were expenses incurred in connection with our operating leases:

(In thousands)

 

For the Three Months Ended Sep. 30, 2020

 

 

For the Three Months Ended Sep. 30, 2019

 

 

For the Nine Months Ended Sep. 30, 2020

 

 

For the Nine Months Ended Sep. 30, 2019

 

Operating leases

 

 

 

 

 

 

 

 

 

 

 

 

   Operating lease expense

 

$120

 

 

$180

 

 

$359

 

 

$540

 

   Variable lease expense

 

 

5

 

 

 

61

 

 

 

139

 

 

 

182

 

Operating lease expense

 

 

125

 

 

 

241

 

 

 

498

 

 

 

722

 

Short-term lease rent expense

 

 

63

 

 

 

4

 

 

 

191

 

 

 

7

 

Total expense

 

$188

 

 

$245

 

 

$689

 

 

$729

 

(In thousands)

 

For the Three Months Ended Sep. 30, 2020

 

 

For the Three Months Ended Sep. 30, 2019

 

 

For the Nine Months Ended Sep. 30, 2020

 

 

For the Nine Months Ended Sep. 30, 2019

 

Finance leases

 

 

 

 

 

 

 

 

 

 

 

 

   Amortization of equipment assets

 

$22

 

 

$19

 

 

$83

 

 

$56

 

   Interest on lease liabilities

 

 

2

 

 

 

8

 

 

 

11

 

 

 

26

 

Total expenses

 

$24

 

 

$27

 

 

$94

 

 

$82