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LEASES

3 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases of Lessee Disclosure

NOTE 12 – LEASES

Leases that are economically similar to the purchase of an asset are classified as finance leases. The leased, or right-of-use assets in finance lease arrangements are reported in net property, plant and equipment on our condensed consolidated balance sheet. The lease classified as an operating lease has a remaining term of three months and is reported in other current assets on our condensed consolidated balance sheet. Right-of-use assets and liabilities on our condensed consolidated balance sheet at June 30, 2019 were:

		June 30, 2019
Operating lease:
Other current assets		$	898
Other current liabilities		$	898
Finance lease:
Property, plant and equipment		$	54,376
Accumulated depreciation			27,188
Net property, plant and equipment		$	27,188
Current portion of long-term debt		$	11,168
Long-term debt		$	19,585
Total finance lease liabilities		$	30,753

One payment remains under our operating lease. Future payments for our finance lease are as follows: 2020: $9,900, 2021: $13,200 and 2022: $11,000. The amount representing finance lease interest is $3,347.

Other supplemental information regarding our leases are contained in the following tables:

Components of lease expense for the period ended:		June 30, 2019
Operating lease amortization		$	865
Operating lease interest		$	59
Finance lease amortization		$	2,719
Finance lease interest		$	779

Weighted average lease term and discount rate at:		June 30, 2019
Lease term (years)			2.58
Lease rate			8	%

Supplemental cash flow information related to leases for the period ended:		June 30, 2019
Cash used in operating activities		$	924
Cash used in financing activities		$	2,658

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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