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Fixed Assets (Tables)

9 Months Ended

Sep. 30, 2021

Fixed Assets

Summary of Fixed Assets

Fixed assets are summarized as follows:

​

​	​	​	​	​	​	​
​		September 30,			December 31,
​	​	2021		​	2020
Machinery and equipment	​	$	720,000	​	$	720,000
Office furniture and equipment	​		221,000	​		180,000
Leasehold improvements	​		192,000	​		149,000
Right of use asset-operating leases	​		1,235,000	​		1,024,000
​	​	​	2,368,000	​	​	2,073,000
Accumulated depreciation and amortization	​		(1,711,000)	​		(1,657,000)
​	​	​	657,000	​	​	416,000
Construction in progress	​	​	—	​	​	11,000
​	​	$	657,000	​	$	427,000

​

Schedule Of Leases Cost

Lease costs for the three and nine months ended September 30, 2021 and 2020 and other quantitative disclosures are as follows:

​

​	​	​	​	​	​	​	​
​		September 30, 2021			December 31, 2020		​
Right-of-use assets, net	​	$	569,000	​	$	384,000	​
Lease Liabilities:		​			​		​
Current lease liabilities	​	$	202,000	​	$	169,000	​
Non-current lease liabilities	​	​	403,000	​	​	249,000	​
Total lease liabilities	​	$	605,000	​	$	418,000	​
​	​	​	​	​	​	​	​
Weighted average remaining lease term (in years):	​		2.5	​		​	​
Weighted average discount rate:	​		6.5	%		​	​

​

Supplemental cash flow information related to leases in as follows:

​

​	​	​	​	​	​	​
​	​	Nine Months Ended
​		September 30, 2021			September 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:		​			​
Operating cash flows from operating leases	​	$	162,000	​	$	159,000

​

Schedule of minimum future payments

Minimum future payments under the Company’s lease liabilities at September 30, 2021 are as follows:

​

​	​	​	​	​	​	​
​		Discounted lease			Payments due under
​	​	liability payments		​	lease agreements
2021 (remaining 3 months)		$	48,000		$	57,000
2022		​	207,000		​	233,000
2023	​	​	122,000	​	​	136,000
2024	​	​	54,000	​	​	65,000
2025	​	​	59,000	​	​	66,000
Thereafter	​	​	115,000	​	​	118,000
Total	​	$	605,000	​	$	675,000

X

- Definition

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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
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- Definition

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.

+ References

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-SubTopic 10
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