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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]  
Summary of Lease Liabilities and Right-of-Use Assets

The table below summarizes the Company’s lease liabilities and corresponding right-of-use assets (in thousands, except years and rates):

 

 

 

December 31,

2019

 

Assets

 

 

 

 

Operating

 

$

781

 

Financing

 

 

134

 

Total leased assets

 

$

915

 

 

 

 

 

 

Liabilities

 

 

 

 

Current:

 

 

 

 

Operating

 

$

147

 

Financing

 

 

120

 

Noncurrent:

 

 

 

 

Operating

 

$

646

 

Financing

 

 

8

 

Total lease liabilities

 

$

921

 

Weighted-average remaining lease term (years) - operating

   leases

 

 

6.89

 

Weighted-average remaining lease term (years) - finance leases

 

 

1.08

 

Weighted-average discount rate - operating leases

 

 

7.93

%

Weighted-average discount rate - finance leases

 

 

5.00

%

Summary of Lease Costs

The table below summarizes the Company’s lease costs from its consolidated statements of operations, and cash payments from its consolidated statements of cash flows during year ended December 31, 2019.

 

 

 

Year ended

December 31,

2019

 

Lease expense:

 

 

 

 

Operating lease expense

 

$

225

 

Finance lease expense:

 

 

 

 

Depreciation of right-of-use assets

 

 

116

 

Interest expense on lease liabilities

 

 

9

 

Total lease expense

 

$

350

 

 

 

 

 

 

Cash payment information:

 

 

 

 

Operating cash used for operating leases

 

$

213

 

Financing cash used for financing leases

 

 

131

 

Total cash paid for amounts included in the measurement of

   lease liabilities

 

$

344

 

Summary of Future Minimum Annual Lease Payments under Operating and Financing Leases

Total rent expenses for the year ended December 31, 2019 was $0.7 million, which includes leases in the table above, month-to-month operating leases, and common area maintenance charges.

 

The Company’s future minimum annual lease payments under operating and financing leases at December 31, 2019 are as follows (in thousands):

 

 

 

Financing

Leases

 

 

Operating

Leases

 

2020

 

 

123

 

 

 

211

 

2021

 

 

7

 

 

 

183

 

2022

 

 

 

 

 

123

 

2023

 

 

 

 

 

100

 

Thereafter

 

 

 

 

 

447

 

Total minimum lease payments

 

$

130

 

 

$

1,064

 

Less: amount representing interest

 

 

(2

)

 

 

(271

)

Present value of obligations under leases

 

 

128

 

 

 

793

 

Less: current portion

 

 

(120

)

 

 

(147

)

Noncurrent lease obligations

 

$

8

 

 

$

646

 

Future Payments under Obligation

As of December 31, 2018, future minimum lease payments under the Company’s lease obligations under ASC 840 were as follows:

 

Years Ending December 31,

 

Obligation

 

2019

 

$

1,282

 

2020

 

 

638

 

2021

 

 

638

 

2022

 

 

192

 

Total

 

$

2,750

 

 

As of December 31, 2019, the future contractual principal and final fee payments on all of our debt obligations are as follows (as thousands):

 

Years Ending December 31,

 

 

 

 

2020

 

$

5,308

 

2021

 

 

6,180

 

Total

 

$

11,488