XML 82 R15.htm IDEA: XBRL DOCUMENT
v3.20.1

LEASES | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
LEASES | LEASES The Company does not recognize leases with terms less than twelve months in duration in our consolidated balance sheet as right-of-use assets and lease liabilities. Leases with an initial term of 12 months or less or that have variable only payments are not recorded on the balance sheet. The Company has adopted the practical expedient which allows for the Company to not separate lease and non-lease components of contracts. Accordingly, non-lease components are included in the measurement of the Company's leases and right-of-use assets. If the Company is aware of the implicit rate in leases, the Company determines the operating lease liability using the implicit rate. For those leases where the Company is not aware of the implicit rate in the lease, the Company utilizes an incremental borrowing rate of 4.00%, which is indicative of our collateralized borrowing rate. Operating Leases The Company leases its facility in Sofia, Bulgaria and vehicles in Clearwater, Florida under non-cancelable operating lease agreements. The Company's lease on the Bulgaria facility includes rent escalation over the term of the lease. Rent expense on the lease is accounted for on a straight-line basis over the lease term. During 2019, the Bulgaria facility lease was extended for an additional 2 years. In accordance with operating lease guidance under Topic 842, the extension was accounted for as a lease modification and the right-of-use asset and lease liability were remeasured at the modification date. The Company's operating leases have terms expiring through December 2022. Finance Leases During 2019, the Company entered into non-cancelable finance leases for certain computer equipment and a vehicle in Clearwater, Florida. The Company's finance leases have terms expiring through August 2023. Information about the Company’s lease costs are as follows:
| Year Ended December 31, 2019
Lease costs (in thousands): |
Operating lease costs | $ | 115 |
Finance lease costs: |
Amortization of right-of-use assets | 57 |
Interest on lease liabilities | 8 |
Variable lease costs | 16 |
Total lease costs | $ | 196 |
Cash and non cash information related to our leases are as follows:
| Year Ended December 31, 2019
(in thousands) | Operating | Finance
Non cash information: |  |
Right-of-use assets capitalized and lease liabilities recognized upon adoption of Topic 842 | $ | 212 |  | $ | — |
Right-of-use assets capitalized and lease liabilities recognized upon lease remeasurement | $ | 207 |  | $ | — |
Right-of-use assets capitalized and lease liabilities recognized upon execution of lease | $ | 28 |  | $ | 710 |
Cash information: |  |
Cash paid for lease liabilities | $ | 106 |  | $ | 68 |
Information about the Company’s weighted average remaining lease terms and discount rate assumptions are as follows:
| Year Ended December 31, 2019
| Operating | Finance
Weighted average remaining lease term (in years) | 3.0 | 2.7
Weighted average discount rate | 4.04% | 4.00%
Maturities of lease liabilities as of December 31, 2019 are as follows:
(In thousands) | Operating | Finance
2020 | $ | 120 |  | $ | 251 |
2021 | 124 |  | 236 |
2022 | 121 |  | 183 |
2023 | — |  | 18 |
Total lease payments | 365 |  | 688 |
Less imputed interest | (22 | ) | (38 | )
Present value of lease liabilities | 343 |  | 650 |
Less current portion of lease liabilities | (108 | ) | (229 | )
Long-term portion of lease liabilities | $ | 235 |  | $ | 421 |
LEASES | LEASES The Company does not recognize leases with terms less than twelve months in duration in our consolidated balance sheet as right-of-use assets and lease liabilities. Leases with an initial term of 12 months or less or that have variable only payments are not recorded on the balance sheet. The Company has adopted the practical expedient which allows for the Company to not separate lease and non-lease components of contracts. Accordingly, non-lease components are included in the measurement of the Company's leases and right-of-use assets. If the Company is aware of the implicit rate in leases, the Company determines the operating lease liability using the implicit rate. For those leases where the Company is not aware of the implicit rate in the lease, the Company utilizes an incremental borrowing rate of 4.00%, which is indicative of our collateralized borrowing rate. Operating Leases The Company leases its facility in Sofia, Bulgaria and vehicles in Clearwater, Florida under non-cancelable operating lease agreements. The Company's lease on the Bulgaria facility includes rent escalation over the term of the lease. Rent expense on the lease is accounted for on a straight-line basis over the lease term. During 2019, the Bulgaria facility lease was extended for an additional 2 years. In accordance with operating lease guidance under Topic 842, the extension was accounted for as a lease modification and the right-of-use asset and lease liability were remeasured at the modification date. The Company's operating leases have terms expiring through December 2022. Finance Leases During 2019, the Company entered into non-cancelable finance leases for certain computer equipment and a vehicle in Clearwater, Florida. The Company's finance leases have terms expiring through August 2023. Information about the Company’s lease costs are as follows:
| Year Ended December 31, 2019
Lease costs (in thousands): |
Operating lease costs | $ | 115 |
Finance lease costs: |
Amortization of right-of-use assets | 57 |
Interest on lease liabilities | 8 |
Variable lease costs | 16 |
Total lease costs | $ | 196 |
Cash and non cash information related to our leases are as follows:
| Year Ended December 31, 2019
(in thousands) | Operating | Finance
Non cash information: |  |
Right-of-use assets capitalized and lease liabilities recognized upon adoption of Topic 842 | $ | 212 |  | $ | — |
Right-of-use assets capitalized and lease liabilities recognized upon lease remeasurement | $ | 207 |  | $ | — |
Right-of-use assets capitalized and lease liabilities recognized upon execution of lease | $ | 28 |  | $ | 710 |
Cash information: |  |
Cash paid for lease liabilities | $ | 106 |  | $ | 68 |
Information about the Company’s weighted average remaining lease terms and discount rate assumptions are as follows:
| Year Ended December 31, 2019
| Operating | Finance
Weighted average remaining lease term (in years) | 3.0 | 2.7
Weighted average discount rate | 4.04% | 4.00%
Maturities of lease liabilities as of December 31, 2019 are as follows:
(In thousands) | Operating | Finance
2020 | $ | 120 |  | $ | 251 |
2021 | 124 |  | 236 |
2022 | 121 |  | 183 |
2023 | — |  | 18 |
Total lease payments | 365 |  | 688 |
Less imputed interest | (22 | ) | (38 | )
Present value of lease liabilities | 343 |  | 650 |
Less current portion of lease liabilities | (108 | ) | (229 | )
Long-term portion of lease liabilities | $ | 235 |  | $ | 421 |

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 finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration