Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Note 7 – Leases

The Company recognizes right-of-use ("ROU") assets and lease liabilities when it obtains the right to control an asset under a leasing arrangement with an initial term greater than twelve months. The Company leases its real estate and certain office equipment under non-cancellable operating leases, and certain office and factory equipment under non-cancellable financing leases.

The Company evaluates the nature of each lease at the inception of an arrangement to determine whether it is an operating or financing lease and recognizes the ROU asset and lease liabilities based on the present value of future minimum lease payments over the expected lease term. The Company's leases do not generally contain an implicit interest rate and therefore the Company uses the incremental borrowing rate it would expect to pay to borrow on a similar collateralized basis over a similar term in order to determine the present value of its lease payments.

The following table summarizes the Company's operating and financing lease expense as of December 31, 2019:

Operating lease cost	$	1,155
Financing lease cost		20
Total	$	1,175
Weighted average remaining lease term		4.0
Weighted average discount rate-operating leases		6.5	%

Maturities of the Company's operating leases, excluding short term leases are as follows:

2020	$	944
2021		939
2022		901
2023		922
2024		77
Thereafter		-
Total		3,783
Less:  present value discount		(464	)
Total operating lease liabilities	$	3,319