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Leases

6 Months Ended

Jun. 30, 2021

Note 10. Leases

The Company has one lease, which is the lease for its corporate facility that expires in July 2022, that it accounts for under Accounting Standards Update No. 2016-02. The right-of-use asset and corresponding liability for the facility lease have been measured at the present value of the future minimum lease payments. The discount rate used to measure the lease asset and liability represents the interest rate on the Notes (8%). Lease expense is recognized on a straight-line basis over the lease term, and operating lease expense was approximately $0.1 million and $0.1 million for the six months ended June 30, 2021 and 2020, respectively. The Company does not have an option to extend the lease term beyond the current extension.

Future minimum payments under the facility operating lease at June 30, 2021 were as follows (in thousands):

	Operating
Year ending December 31,	lease
2021	$	104
2022		113
Total future lease payments		217
Less: imputed interest		(6	)
Present value of lease liabilities	$	211

Supplemental cash flow information related to the operating lease was as follows (in thousands):

		Six Months Ended
		June 30,
		2021		2020

Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows for lease	$	101	$	112