XML 29 R18.htm IDEA: XBRL DOCUMENT v3.20.2

LEASES

9 Months Ended

Sep. 26, 2020

Leases [Abstract]

LEASES

11. LEASES

The Company enters into operating leases primarily for: real estate, including for manufacturing, engineering, research, administration and sales facilities, and information technology (“IT”) equipment. At September 26, 2020 and December 28, 2019, the Company did not have any finance leases. Approximately all of our future lease commitments, and related lease liability, relate to the Company’s real estate leases. Some of the Company’s leases include options to extend or terminate the lease.

The components of lease expense were as follows:

 SCHEDULE OF LEASE EXPENSE

		Three Months Ended								Nine Months Ended
		September 26, 2020				September 28, 2019				September 26, 2020				September 28, 2019
Operating lease cost		$	284,529			$	293,251			$	851,846			$	884,499

At September 26, 2020, the Company’s future lease payments under non-cancellable leases were as follows:

 SCHEDULE OF FUTURE LEASE PAYMENT UNDER NON-CANCELLABLE LEASE

2020 (excluding the nine months ended September 26, 2020)		$	299,338
2021			1,053,209
2022			654,617
2023			201,333
Thereafter			—
Total future lease payments			2,208,497
Less imputed interest			(150,882	)
Total		$	2,057,615

The Company’s lease liabilities recognized in the Company’s condensed consolidated balance sheets at September 26, 2020 was as follows:

 SCHEDULE OF OPERATING LEASE PAYMENTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS 

		September 26, 2020
Operating lease liabilities - current		$	1,064,903
Operating lease liabilities -noncurrent			992,712
Total lease liabilities		$	2,057,615

Supplemental cash flow information related to leases was as follows:

 SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES

		Nine months ended
		September 26, 2020
Cash paid for amounts included in the measurement of operating lease liabilities		$	892,221

Other information related to leases was as follows:

		September 26, 2020
Weighted Average Discount Rate - Operating Leases			6.16	%
Weighted Average Remaining Lease Term - Operating Leases (in years)			2.14

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

+ Details

Name:	us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration