Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]  
Summary of Quantitative Information Associated with Amounts Recognized in Unaudited Condensed Consolidated Financial Statements for Lease The following table summarizes certain quantitative information associated with the amounts recognized in the unaudited condensed consolidated financial statements for the Lease (dollars in thousands):

 

 

 

Three Months Ended March 31, 2020

 

Operating lease cost

 

$

166

 

Variable lease cost

 

 

21

 

Total operating lease expense

 

$

187

 

 

 

 

 

 

Cash paid for amounts included in the measurement of operating lease liability

 

$

167

 

 

 

 

 

 

 

 

 

 

 

Remaining Lease term (years)

 

9.34

 

Discount rate

 

 

15

%

 

Future Minimum Lease Payments   Future minimum lease payments for the Lease as of March 31, 2020 are as follows (in thousands):

 

 

 

March 31, 2020

 

2020

 

$

340

 

2021

 

 

517

 

2022

 

 

527

 

2023

 

 

715

 

2024

 

 

730

 

Thereafter

 

 

3,533

 

Total

 

$

6,362

 

 

Presentation of Operating Lease Liability and Right-of-Use Asset

The presentation of the operating lease liability and right-of-use asset as of March 31, 2020 are as follows (in thousands):

 

 

March 31, 2020

 

Present value of future minimum lease payments

 

$

3,312

 

 

 

 

 

 

Operating lease liability, current portion

 

$

40

 

Operating lease liability, long-term portion

 

 

3,272

 

Total operating lease liability

 

$

3,312

 

 

 

 

 

 

Difference between future minimum lease payments and discounted cash flows

 

$

3,050

 

 

 

 

 

 

Operating lease right-of-use asset

 

$

3,143