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Note 5 - Leasing Arrangements

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

Note

5

-

Leasing Arrangements

We have operating leases for our office and integration facilities as well as for certain equipment and vehicles. Our leases have remaining lease terms of

1

to

3

years. As of

March 31, 2020,

we have

not

entered into any lease arrangement classified as a finance lease.

We determine if an arrangement is a lease at inception. Operating leases are included in lease right-of-use assets, current lease liabilities and lease liabilities, non-current, on our consolidated balance sheet. We have elected an accounting policy to

not

recognize short-term leases (

one

year or less) on the balance sheet. We also elected the package of practical expedients which applies to leases that commenced before the adoption date. By electing the package of practical expedients, we did

not

need to reassess whether any existing contracts are or contain leases, the lease classification for any existing leases and initial direct costs for any existing leases.

Right-of-use assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. When the implicit rate of the lease is

not

provided or cannot be determined, we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of future payments. Lease terms

may

include options to extend or terminate the lease when it is reasonably certain that we will exercise those options. Lease expense for minimum lease payments is recognized on a straight- line basis over the lease term. Components of lease expense and other information is as follows:

		Three Months Ended March 31, 2020 (unaudited)
Lease expense
Operating lease cost		$	194
Variable lease cost			-
Sublease income			(16	)
Total operating lease cost			178
Operating Lease – operating cash flows			(151	)
New right-of-use assets – operating leases			-
Weighted average remaining lease term – Operating leases (months)			24
Weighted average discount rate – Operating leases			12.0	%

Future minimum lease payments under non-cancellable leases as of

March 31, 2020

were as follows (in

‘000’s

):

		Fiscal Year
2020		$	607
2021			823
2022			209
2023			5
Thereafter			-
Total minimum future lease payments			1,644
Less imputed interest			(194	)
Total		$	1,450
Reported as of March 31, 2020:
Current portion of lease liability		$	670
Non-current portion of lease liability			780
		$	1,450

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- References

No definition available.

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- 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

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