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Equipment Lease Obligations

9 Months Ended

Sep. 30, 2017

Leases [Abstract]

Equipment Lease Obligations

10. Equipment Lease Obligations

The Company entered into various lease arrangements to lease equipment. The equipment with a cost of $1,484 and $2,853 has been capitalized and included in the Company’s property, plant and equipment as of September 30, 2017 and December 31, 2016, respectively. Depreciation expense under lease assets was approximately $55 and $73 for the three months and $201 and $219 for the nine months ended September 30, 2017 and 2016, respectively.

Future minimum lease payments for equipment lease obligations as of September 30, 2017 are as follows:

		Amount
2018		$	664
2019			10
Total minimum lease payments			674
Amount representing interest at 0% - 4.95%			(25	)
Present value of payments			649
Less: current portion			(641	)
Total equipment financing obligations, net of current portion		$	8

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- Definition

The entire disclosure for capital leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 30
-URI http://asc.fasb.org/subtopic&trid=2209026

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- References

No definition available.

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