Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Note 10. Leases

The Company has one lease, which is the lease for its corporate facility that expires in July 2022, that it accounts for under Accounting Standards Update 2016-02. The right-of-use asset and corresponding liability for the facility lease have been measured at the present value of the future minimum lease payments. The discount rate used to measure the lease asset and liability represents the interest rate on the Notes (8%). Lease expense is recognized on a straight-line basis over the lease term, and operating lease expense was approximately $53,000 for the three months ended March 31, 2021. The Company does not have an option to extend the lease term beyond the current extension.

Future minimum payments under the facility operating lease at March 31, 2021 are as follows (in thousands):

	Operating
Year ending December 31,	lease
2021	$	155
2022		112
Total future lease payments		267
Less: imputed interest		(9	)
Present value of lease liabilities	$	258

Supplemental cash flow information related to the operating lease was as follows (in thousands):

		Three Months Ended
		March 31,
		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows for lease	$	51	$	56