LEASE LIABILITIES AND RIGHT OF USE ASSETS (Tables)

3 Months Ended

Mar. 31, 2021

LEASE LIABILITIES AND RIGHT OF USE ASSETS

Schedule of finance leased assets included in property plant and equipment

The following summarizes the assets acquired under finance leases, included in property and equipment:

	March 31,		December 31,
(in thousands)	2021		2020
Computer equipment	$	159	$	177
Less: accumulated depreciation		(118)		(116)
Assets acquired under finance leases, net	$	41	$	61

Schedule of total remaining future minimum lease payments for finance leases

The following summarizes the total lease liabilities and remaining future minimum lease payments at March 31, 2021 (in thousands):

Year ending, December 31,	Finance Leases		Operating Leases		Total
2021 (9 months remaining)	$	35	$	197	$	232
2022		16		257		273
2023		1		118		119
2024		—		81		81
Total minimum lease payments		52		653		705
Less: present value discount		(2)		(53)		(55)
Total lease liabilities		50	$	600	$	650
Current portion of lease liabilities		40	$	234	$	274
Long term portion of lease liabilities	$	10	$	366	$	376

Schedule of lease expense

The following summarizes expenses associated with our finance and operating leases for the three months ended March 31, 2021 (in thousands):

Finance lease expenses:
Depreciation expense	$	13
Interest on lease liabilities		1
Total Finance lease expense		14
Operating lease expense		64
Short-term lease and related expenses		53
Total lease expenses	$	131

Schedule of lease terms and discount rates

The following table provides information about the remaining lease terms and discount rates applied as of March 31, 2021:

Weighted average remaining lease term (years)
Operating Leases	2.73
Finance Leases	1.28
Weighted average discount rate (%)
Operating Leases	6.00
Finance Leases	6.00