Note 9 - Operating Leases

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note

9.

Operating

Leases

We lease office and manufacturing space and certain office equipment under noncancelable operating leases. We determine whether an arrangement is or contains a lease at its inception. We recognize lease liabilities based on the present value of the minimum lease payments

not

yet paid, by using the lease term and discount rate determined at lease commencement. As our leases do

not

provide an implicit rate, we use our incremental borrowing rate of

9.5%

commensurate with the underlying lease terms to determine the present value of our lease payments. Rental payments are recognized as rent expense on a straight-line basis over the term of the lease and for the

three

months ended

March 31, 2019

we recognized rent expense in the amount of

$0.5

million. Our leases have remaining lease terms of

1

year to

11.5

years,

one

of which includes an option to extend the lease for

5

years. For the

three

months ended

March 31, 2019

cash payments against operating lease liabilities totaled

$0.5

million.

The information related to our leases is as follows (in thousands):

	March 31,
Operating leases	2019
Operating ROU lease assets, noncurrent	$	13,293
Operating lease liabilities, current		414
Operating lease liabilities, noncurrent		14,787

At

March 31, 2019,

future lease payments for noncancelable operating leases are as follows (in thousands):

2019 (excluding the three months ending March 31, 2019)	$	1,364
2020		1,852
2021		1,886
2022		2,133
2023		2,173
Thereafter		16,375
Total future minimum lease payments		25,783
Less imputed interest		(10,582	)
Total lease liabilities	$	15,201