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Operating Lease Liabilities | 12 Months Ended
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Dec. 31, 2021
Disclosure Text Block [Abstract] |
OPERATING LEASE LIABILITIES | Note 10. OPERATING LEASE LIABILITIES The Company has operating and finance leases for leased office and manufacturing facilities and equipment leases. The Company leases certain machinery and equipment under finance leases and leases its offices and manufacturing facilities under operating leases. The leases have remaining lease terms of one to six years, some of which include options to extend or terminate the leases.
|  | December 31, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Weighted Average Remaining Lease Term - in years |  |  | 4.53 |  |  |  | 5.53 |
Weighted Average discount rate - % |  |  | 8.89 | % |  |  | 8.89 | %
The aggregate undiscounted cash flows of operating lease payments, with remaining terms greater than one year are as follows:
|  | Amount |
December 31, 2022 |  | $ | 1,007,000 |
December 31, 2023 |  |  | 1,038,000 |
December 31, 2024 |  |  | 1,070,000 |
December 31, 2025 |  |  | 992,000 |
December 31, 2026 |  |  | 730,000 |
Total future minimum lease payments |  |  | 4,837,000 |
Less: discount |  |  | (910,000 | )
Total operating lease maturities |  |  | 3,927,000 |
Less: current portion of operating lease liabilities |  |  | (686,000 | )
Total long term portion of operating lease maturities |  | $ | 3,241,000 |
On April 29, 2021 the Company entered into an agreement to surrender possession of the premises of the former corporate office, located in Hauppauge, NY. The Company made a one-time payment of 40% of the remaining balance due to the landlord as of May 1, 2021, approximately $37,000. The Company had previously recognized a lease impairment of $275,000 to its Operating Lease Right-of-Use-Asset for the year-ended December 31, 2019. NTW’s warehouse lease was terminated in May 2020 by its landlord under the terms of its lease agreement. Additionally, the Company entered into a new lease agreement for warehouse space in Bohemia, NY. The new lease term commenced on April 1, 2020 and expires on May 31, 2025. During the first year of the lease, the monthly rent is $10,964 and increases 3% each year thereafter. The final two months are equal installments of $1,746. Rent expense for the years ended December 31, 2021 and 2020 was $1,069,000 and $1,173,000, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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