Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2017

Fixed assets are summarized as follows:

	December 31,		December 31,
	2017		2016

Machinery and equipment	$	801,000	$	662,000
Office furniture and equipment		167,000		141,000
Leasehold improvements		147,000		134,000
Right of use asset-operating leases		518,000		518,000
Accumulated depreciation and amortization		(1,135,000)		(894,000)
		498,000		561,000
Construction in progress		-		83,000
	$	498,000	$	644,000

Lease costs for the years ended December 31, 2017 and 2016 and other quantitative disclosures are as follows:

	For the twelve months ended December 31,
	2017		2016
Lease cost:
Operating lease cost	$	214,000	$	186,000
Short-term lease cost		47,000		21,000
Total lease cost	$	261,000	$	207,000

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	172,000

Right-of-use assets obtained in exchange for new operating lease liabilities
For operating lease:
Weighted average remaining lease term (in years)				2.18
Weighted average discount rate				5.00	%

Minimum future payments under the Company’s leases at December 31, 2017 and their application to the corresponding lease liabilities are as follows:

	Discounted lease liability payments		Payments due under lease agreements
2018	$	159,000	$	173,000
2019		158,000		164,000
2020		37,000		37,000
Total	$	354,000	$	374,000