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Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Operating Lease Right-of-use Assets and Liabilities

The tables below show the initial measurement of the operating lease right-of-use assets and liabilities as of January 1, 2019 and the balances as of December 31, 2019, including the changes during the year.

 

    Operating lease right-of-use assets  
Initial measurement at January 1, 2019   $ 3,458,000  
Less tenant improvement allowance     (1,122,000 )
Net right-of-use assets at January 1, 2019     2,336,000  
Initial measurement of new operating lease right-of-use-assets     57,000  
Less amortization of operating lease right-of-use assets     (292,000 )
Operating lease right-of-use assets at December 31, 2019   $ 2,101,000  

  

    Operating lease liabilities  
Initial measurement at January 1, 2019   $ 3,458,000  
Initial measurement of new operating lease liabilities     57,000  
Less principal payments on operating lease liabilities     (215,000 )
Operating lease liabilities at December 31, 2019     3,300,000  
Less non-current portion     (2,891,000 )
Current portion at December 31, 2019   $ 409,000  
Schedule of Maturities of Operating Leases

As of December 31, 2019, the Company’s operating leases have a weighted-average remaining lease term of 6.3 years and a weighted-average discount rate of 7.25%. The maturities of the operating lease liabilities are as follows:

 

     

As of

December 31, 2019

  
2020     $ 635,000  
2021       620,000  
2022       634,000  
2023       655,000  
2024       670,000  
Thereafter       932,000  
Total operating lease payments       4,146,000  
Less imputed interest       (846,000 )
Present value of operating lease liabilities     $ 3,300,000  
Schedule of Financing Lease Right-of-use Assets and Liabilities

The tables below show the initial measurement of the finance lease right-of-use assets and liabilities as of January 1, 2019 and the balances as of December 31, 2019, including the changes during the year. The Company’s finance lease right-of-use assets are included in “Fixed assets, net” on the accompanying consolidated balance sheet.

 

   

Finance lease

right-of-use assets

  
Initial measurement at January 1, 2019   $ 80,000  
Less depreciation of Finace lease right-of-use assets     (39,000 )
Finace lease right-of-use assets at December 31, 2019   $ 41,000  

 

     

Finace lease

liabilities

  
Initial measurement at January 1, 2019   $ 86,000  
Less principal payments on Finace lease liabilities     (45,000 )
Finace lease liabilities as of December 31, 2019     41,000  
Less non-current portion     (20,000 )
Current portion at December 31, 2019   $ 21,000  
Schedule of Maturities of Financing Leases

The maturities of the finance lease liabilities are as follows:

 

   

As of

December 31, 2019

  
2020     23,000  
2021     21,000  
Total Finace lease payments     44,000  
Less imputed interest     (3,000 )
Present value of Finace lease liabilities   $ 41,000