Equipment Lease Obligations

3 Months Ended

Mar. 31, 2017

10. Equipment Lease Obligations

The Company entered into various lease arrangements to lease equipment. The equipment with a cost of $2,853 has been capitalized and included in the Company’s property, plant and equipment as of both March 31, 2017 and December 31, 2016. Depreciation expense under lease assets was approximately $73 for each of the three months ended March 31, 2017 and 2016.

Future minimum lease payments for equipment lease obligations as of March 31, 2017 are as follows:

	Amount
2018	$	678
2019		512
Total minimum lease payments		1,190
Amount representing interest at 0% - 4.95%		(48	)
Present value of payments		1,142
Less: current portion		(640	)
Total equipment financing obligations, net of current portion	$	502