Note 13 - Leases

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

1 3 . Leases

The Company had operating leases for the Company’s corporate office and manufacturing facilities, which expire at various dates through 

2024.

The Company’s primary operating lease commitments at 

June 30, 2019 

related to the Company’s manufacturing facilities in Valdosta, Georgia, Nogales, Arizona and Salt Lake City, Utah, as well as the Company’s corporate headquarters in Markham, Canada.

As of 

June 30, 2019,

the Company had operating lease right-of-use assets of 

$3,089,000

 and operating lease liabilities of 

$3,128,000.

As of 

June 30, 2019,

we did

not

have any finance leases recorded on the Company’s condensed consolidated balance sheet. Operating lease expense was approximately 

$201,000

and

$402,000

 during the 

three

and

six

months ended

June 30, 2019,

respectively.

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

June 30, 2019

are as follows:

	June 30,
	2019
Remaining six months of 2019	$	360,000
2020		797,000
2021		776,000
2022		670,000
2023		676,000
Thereafter		135,000
Total future minimum lease payments		3,414,000
Less imputed interest		(286,000	)
Total Lease liabilities	$	3,128,000

As of

June 30, 2019,

the weighted average remaining lease term of the Company’s operating leases was 

4.76

years. During the

six

months ended

June 30, 2019,

the weighted average discount rate with respect to these leases was 

4.32%.