Fixed Assets (Tables)

9 Months Ended

Sep. 30, 2019

Fixed assets are summarized as follows:


	September 30,		December 31,
	2019		2018
	(unaudited)
Machinery and equipment	$	863,000	$	853,000
Office furniture and equipment		178,000		186,000
Leasehold improvements		150,000		150,000
Right of use asset-operating leases		1,138,000		637,000
Accumulated depreciation and amortization		(1,595,000)		(1,369,000)
	$	734,000	$	457,000

Schedule Of Leases Cost

Lease costs for the nine months ended September 30, 2019 and 2018 and other quantitative disclosures are as follows (unaudited):


	For the three months ended Setpember 30,					For the nine months ended September 30,
	2019		2018			2019		2018
Lease cost:
Operating lease cost	$	58,000	$	52,000		$	175,000	$	158,000
Total lease cost	$	58,000	$	52,000		$	175,000	$	158,000

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	178,000

Right-of-use assets obtained in exchange for new operating lease liabilities			$	505,000
For operating lease:
Weighted average remaining lease term (in years)				3.34
Weighted average discount rate				7.17	%

During the nine months ended September 30, 2019, the Company recorded a right-of-use assets and operating lease liabilities amounting to $505,000 upon extensions of the leases for its office space in Seattle, Washington through May 2023 and its offices space in Tulsa, Oklahoma through August 2022.

Schedule of minimum future payments

Minimum future payments under the Company’s leases at September 30, 2019 and their application to the corresponding lease liabilities are as follows (unaudited):


	Discounted lease		Payments due under
	liability payments		lease agreements
2019 (remaining 3 months)		48,000		59,000
2020		177,000		215,000
2021		169,000		193,000
2022		178,000		190,000
2023		71,000		73,000
Total	$	643,000	$	730,000