LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Rent Expense for All Operating Leases Except Those with Terms of 12 Months or Less

Rent expense for all operating leases except those with terms of 12 months or less comprises:

	(in thousands)
	Three Months Ended			Three Months Ended
	March 31, 2020			March 31, 2019

Minimum rentals		$	7		$	2
Contingent rentals			–			–

		$	7		$	2

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows:

	(in thousands)
	Three Months Ended			Three Months Ended
	March 31, 2020			March 31, 2019

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	7	$	2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	474	$	499

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

	(in thousands, except lease term and discount rate)
	March 31, 2020			December 31, 2019

Operating Leases:
Operating lease right-of-use assets	$	474		$	480

Other current liabilities	$	20			19
Operating lease liabilities		445			450
Total operating lease liabilities	$	465		$	469


Weighted Average Remaining Lease Term
Operating leases	58 years			58 years
Weighted Average Discount Rate
Operating leases		5.0	%		5.0	%

Maturities of Operating Lease Liabilities

Table of Contents

Maturities of operating lease liabilities that have initial or remaining non-cancelable lease terms in excess of one year as of March 31, 2020 are as follows:

	(in thousands)
	Operating Leases
Year
2020	$	42
2021		42
2022		23
2023		23
2024		23
Thereafter		1,319
Total undiscounted lease payments	$	1,472
Less effects of discounting		(1,007	)
Total lease liabilities recognized	$	465