Note 13 - Leases

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

13 . Leases

We have operating leases for our corporate office and manufacturing facilities, which expire at various dates through 

2024.

Our primary operating lease commitments at 

March 

31,

2019

 are related to our manufacturing facilities in Valdosta, Georgia; Nogales, Arizona and Salt Lake City, Utah; as well as corporate headquarters in Markham, Canada.

As of 

March 

31,

2019,

we had operating lease ROU assets of 

$3,251,000

 and operating lease liabilities of 

$3,295,000.

As of 

March 

31,

2019,

we did

not

have any finance leases recorded on our condensed consolidated balance sheet. Operating lease expense was approximately 

$201,000

 during the 

three

months ended

March 31, 2019.

The aggregate future minimum lease payments and reconciliation to lease liabilities as of 

March 

31,

2019,

are as follows:

	March 31,
	2019
Remaining nine months of 2019	$	594,000
2020		797,000
2021		776,000
2022		670,000
2023		676,000
Thereafter		135,000
Total future minimum lease payments		3,648,000
Less imputed interest		(353,000	)
Total Lease liabilities	$	3,295,000

As of

March 31, 2019,

our weighted average remaining lease term was 

4.7

 years. During the

three

months ended

March 31, 2019,

our weighted average discount rate was 

4.32%.