Leases

6 Months Ended

Jun. 30, 2021

Leases, Operating [Abstract]

LEASES

Note 4. LEASES

The Company has operating and finance leases for leased office and manufacturing facilities and equipment leases. The Company leases certain machinery and equipment under finance leases and leases its offices and manufacturing facilities under operating leases. The leases have remaining lease terms of one to five years, some of which include options to extend or terminate the leases.

	June 30,			December 31,
	2021			2020
	(unaudited)
Weighted Average Remaining Lease Term - in years		5.12			5.53
Weighted Average discount rate - %		8.89	%		8.90	%

The aggregate undiscounted cash flows of operating lease payments for leases with remaining terms greater than one year are as follows:

	Amount
December 31, 2021 (remainder of the year)	$	492,000
December 31, 2022		1,007,000
December 31, 2023		1,038,000
December 31, 2024		1,070,000
December 31, 2025		992,000
Thereafter		730,000
Total future minimum lease payments		5,329,000
Less: discount		(1,091,000	)
Total operating lease maturities		4,238,000
Less: current portion of operating lease liabilities		(643,000	)
Total long term portion of operating lease maturities	$	3,595,000

On April 29, 2021 the Company entered into an agreement to surrender the possession of the premises of the former corporate office, located in Hauppauge, NY. The Company made a one-time payment of 40% of the remaining balance due to the landlord as of May 1, 2021, of approximately $37,000. The Company had previously recognized a lease impairment of $275,000 to its Operating Lease Right-of-Use-Asset for the year-ended December 31, 2019.