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Operating Leases - Right-of-Use Assets and Lease Liability Obligations (Tables)
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of Right-of-use Assets and Lease Liabilities

 

The Company has only one operating lease which is for office space that expires in January 2022. Below is a summary of the Company’s right-of-use assets and lease liabilities as of September 30, 2019 (in thousands, except for years and %):

 

Right-of-use assets

 

$

664

 

 

 

 

 

 

Lease liability obligations, current

 

$

295

 

Lease liability obligations, less current portion

 

 

438

 

Total lease liability obligations

 

$

733

 

 

 

 

 

 

Weighted-average remaining lease term

 

2.33 years

 

 

 

 

 

 

Weighted-average discount rate

 

 

6.00

%

 

Schedule of Future Minimum Lease Payments

 

Approximate future minimum lease payments for the Company’s right-of-use assets over the remaining lease period as of September 30, 2019 are as follows (in thousands):

 

Remainder of 2019

 

$

82

 

2020

 

 

333

 

2021

 

 

343

 

2022

 

 

29

 

Total minimum lease payments

 

$

787

 

Less: amount representing interest

 

$

(54

)

Total lease liability obligations

 

$

733