Fixed Assets (Tables)

9 Months Ended

Sep. 30, 2017

Fixed assets are summarized as follows:

	September 30,		December 31,
	2017		2016
	(unaudited)
Machinery and equipment	$	801,000	$	662,000
Office furniture and equipment		163,000		141,000
Leasehold improvements		145,000		134,000
Right of use asset-operating leases		518,000		518,000
Accumulated depreciation and amortization		(1,073,000)		(894,000)
		554,000		561,000
Construction in progress		-		83,000
	$	554,000	$	644,000

Lease costs for the three and nine months ended September 30, 2017 and 2016 and other quantitative disclosures are as follows:

	For the three months ended September 30,				For the nine months ended September 30,
	2017		2016		2017		2016
Lease cost:
Operating lease cost	$	54,000	$	42,000	$	161,000	$	122,000
Short-term lease cost		40,000		4,000		47,000		21,000
Total lease cost	$	94,000	$	46,000	$	208,000	$	143,000

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	129,000

Right-of-use assets obtained in exchange for new operating lease liabilities
For operating lease:
Weighted average remaining lease term (in years)		2.43
Weighted average discount rate		5.00	%

Minimum future payments under the Company’s leases at September 30, 2017 and their application to the corresponding lease liabilities are as follows: