Note 13 - Leases

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

1 3 . Leases

The Company has 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 

September 30, 2020 

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, Ontario, Canada.

As of

September 30, 2020,

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

$2,501,000

 and operating lease liabilities of 

$2,550,000.

As of

September 30, 2020,

we did

not

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

$201,000

and

$603,000

 during the 

three

and

nine

months ended

September 30, 2020,

respectively.

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

September 30, 2020

were as follows:

	September 30,
	2020
Remaining three months of 2020	$	273,000
2021		1,000,000
2022		670,000
2023		676,000
Thereafter		126,000
Total future minimum lease payments		2,745,000
Less imputed interest		(195,000	)
Total Lease liabilities	$	2,550,000

As of

September 30, 2020,

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

3.97

years. During the

nine

months ended

September 30, 2020,

the weighted average discount rate with respect to these leases was 

4.28%.