XML 35 R22.htm IDEA: XBRL DOCUMENT
v3.22.0.1

LEASES | 12 Months Ended
--- | ---
Dec. 31, 2021
LEASES |
LEASES | NOTE 16 — LEASES The Company has seven operating leases, five in the Dallas/Fort Worth Metroplex, one in Charleston, South Carolina and one in Chandler, Arizona. We have one lease expiring during Fiscal 2022. DGSE leases – The Grand Prairie, Texas lease expires June 30, 2022, and has no current lease options. We are currently evaluating whether to continue to lease in the present location. The Charleston, South Carolina lease expires April 30, 2025, and has no current lease options. The Euless, Texas lease expires June 30, 2025, with an option for an additional five (5) year term. On August 24, 2021, we entered into a new lease agreement with the landlord of DGSE’s main flagship store located at 13022 Preston Road, Dallas, Texas. The new lease commenced on November 1, 2021 and expires January 31, 2027, with an option for an additional five (5) year term. ECHG leases - The McKenzie, Carrollton ITAD lease expired July 31, 2021 with no current options. We evaluated the lease in the present location and decided to vacate the property as of July 31, 2021. The Echo Belt Line lease expires January 31, 2026, with one option period of an additional 60 months. ECHG was assigned CExchange’s lease, located at 2727 Realty Road, Carrollton, Texas, due to the CExchange Transaction on June 9, 2021, and expired December 31, 2021. The lease was amended on October 31, 2021, that commenced on January 1, 2022 and expires January 31, 2027. ECHG was also assigned Avail AZ’s lease, located at 120 E. Corporate Pl, Chandler, Arizona, due to the Avail Transaction, and expires on May 31, 2025. All seven leases are triple net leases that we pay our proportionate amount of common area maintenance, property taxes and property insurance. Leasing costs for Fiscal 2021 and Fiscal 2020 was $2,109,104 and $1,452,689, respectively. These lease costs consist of a combination of minimum lease payments and variable lease costs. As of December 31, 2021, the weighted average remaining lease term and weighted average discount rate for operating leases was 2.81 years and 5.5%, respectively. The Company’s future operating lease obligations that have not yet commenced are immaterial. The cash paid for operating lease liabilities for Fiscal 2021 and Fiscal 2020 was $2,300,630 and $1,314,285, respectively. Future annual minimum lease payments as of December 31, 2021:
|  | Operating |
|  | Leases |
DGSE |  |  |
2022 |  | $ | 516,456 |
2023 |  |  | 499,984 |
2024 |  |  | 507,414 |
2025 |  |  | 364,269 |
2026 and thereafter |  |  | 333,114 |
Total minimum lease payments |  |  | 2,221,237 |
Less imputed interest |  |  | (200,349 | )
DGSE Sub-Total |  |  | 2,020,888 |
ECHG |  |  |  |
2022 |  |  | 1,321,353 |
2023 |  |  | 1,357,381 |
2024 |  |  | 1,396,129 |
2025 |  |  | 1,321,297 |
2026 and thereafter |  |  | 507,780 |
Total minimum lease payments |  |  | 5,903,940 |
Less imputed interest |  |  | (477,947 | )
ECHG Sub-Total |  |  | 5,425,993 |
Total |  |  | 7,446,881 |
Current portion |  |  | 1,573,824 |
|  | $ | 5,873,057 |

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 operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration