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Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2020

Fixed Assets

Summary of Fixed Assets

Fixed assets are summarized as follows:

		December 31,
		2020			2019
Machinery and equipment		$	720,000		$	762,000
Office furniture and equipment			180,000			180,000
Leasehold improvements			149,000			149,000
Right of use asset-operating leases			1,024,000			1,140,000
			2,073,000			2,231,000
Accumulated depreciation and amortization			(1,657,000)			(1,566,000)
			416,000			665,000
Construction in progress			11,000			—
		$	427,000		$	665,000

Schedule Of Leases Cost

Lease costs for the years ended December 31, 2020 and 2019 and other quantitative disclosures are as follows:

		For the year ended December 31,
		2020			2019
Lease cost:
Operating lease cost		$	242,000		$	238,000
Total lease cost		$	242,000		$	238,000
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases					$	215,000
For operating lease:
Weighted average remaining lease term (in years)						2.34
Weighted average discount rate						7.00	%

Schedule of minimum future payments

Minimum future payments under the Company’s leases at December 31, 2020 and their application to the corresponding lease liabilities are as follows:

		Discounted			Payments
		lease			due under
		liability			lease
		payments			agreements
2021			169,000			193,000
2022			178,000			190,000
2023			71,000			72,000
Total		$	418,000		$	455,000

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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