XML 40 R12.htm IDEA: XBRL DOCUMENT v3.20.1
5. Liabilities for Leased Facilities
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Liabilities for Leased Facilities

The Company has future obligations of $7.0 million under current operating leases as follows: due in less than one year $771,000, due in one to three years $2.4 million, due in three to five years $1.7 million and due in more than five years $2.2 million.

 

For implementing the new accounting policies for leases, the Company used a weighted average discount rate of 7% and the weighted average lease term of 7.3 years. The Company recorded $134,545 in lease expense more than cash actually paid in 2019 for the leases.