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Lease Liability

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Lease Liability

8. Lease Liability

The Company has operating leases predominantly for operating facilities. As of June 30, 2021, the remaining lease terms on our operating leases range from less than one to five years. Renewal options to extend our leases have not been exercised due to uncertainty. Termination options are not reasonably certain of exercise by the Company. There is no transfer of title or option to purchase the leased assets upon expiration. There are no residual value guarantees or material restrictive covenants. There are no significant finance leases as of June 30, 2021.

Future minimum lease payments as of June 30, 2021 are as follows:

 Schedule of Future Minimum Lease Payments

Maturity of Lease Liability

		Totals
2021			91,000
2022			19,000
2023			4,000
2024			4,000
2025			4,000
2026			2,000
Total lease payments			124,000
Less: Imputed Interest			(6,000	)
Present value of remaining lease payments		$	118,000
Current		$	101,000
Noncurrent		$	17,000
Weighted-average remaining lease term (years)			1.0
Weighted-average discount rate			5.4	%

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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