Note 13 - Leases

3 Months Ended

Mar. 31, 2021

13.

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

March 31, 2021

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

March 31, 2021,

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

$3,315,000

and operating lease liabilities of

$3,367,000.

As of

March 31, 2021,

we did

not

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

$204,000

during the

three

months ended

March 31, 2021.

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

March 31, 2021

were as follows:

	March 31,
	2021
Remaining nine months of 2021	$	747,000
2022		1,010,000
2023		1,017,000
2024		484,000
2025		365,000
Total future minimum lease payments		3,623,000
Less imputed interest		(256,000	)
Total Lease liabilities	$	3,367,000

As of

March 31, 2021,

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

3.97

years. During the

three

months ended

March 31, 2021,

the weighted average discount rate with respect to these leases was

4.07%.