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Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

NOTE 4 - LEASES

On January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) using the modified retrospective approach for all lease arrangements at the beginning period of adoption. Leases existing for the reporting period beginning January 1, 2019 are presented under ASU 2016-02. The Company leases office space and vehicles under operating leases. At March 31, 2019, the Company’s ROU assets and lease liabilities for operating leases totaled $562 and $562, respectively, which $312 were classified as current liabilities. The impact of adopting the new lease standard was not material to the Company’s condensed consolidated statement of operations for the periods presented.

Supplemental cash flow information related to operating leases was as follows (unaudited):

Three Months
Ended

March 31, 2019

Cash payments for operating leases

$

78

As of March 31, 2019, the Company’s operating leases had a weighted average remaining lease term of 2 years and a weighted average discount rate of 7%. Future lease payments under operating leases as of March 31, 2019 were as follows (in millions, unaudited):

		Operating Leases
Remainder of 2019		$	234
2020			284
2021			77
Total future lease payments		$	595
Less imputed interest			(33	)
Total lease liability balance		$	562