Note 11 - Leases

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

(11) LEASES

We have operating leases for office space and processing facilities with remaining lease terms ranging from less than one year to approximately five years. As most of the leases do not provide an implicit rate, we calculated the right-of-use assets and lease liabilities using our secured incremental borrowing rate at the lease commencement date. We currently do not have any finance leases outstanding.

Information related to leases was as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Operating lease information:
Operating cash outflows from operating leases	$	47		$	78		$	134		$	157
Weighted average remaining lease term in years		3.67			4.19			3.67			4.19
Weighted average discount rate		6.0	%		6.0	%		6.0	%		6.0	%

Future minimum lease payments under non-cancellable leases as of June 30, 2020 were as follows:

Year	Amount
	(In thousands)
2020	$	99
2021		201
2022		206
2023		174
2024		59
Total minimum lease payments	$	739
Less imputed interest		(56	)
Total operating lease liability	$	683
As reflected on balance sheet:
Other long-term liabilities	$	683

At June 30, 2020, and December 31, 2019, respectively, we had approximately $683,000 and $800,000, right-of-use operating lease assets recorded within “buildings and equipment” on the condensed consolidated balance sheets.