On March 6, 2018, the Company entered into a lease agreement (the “Newton Lease”) commencing on October 1, 2018 for certain premises which consist of 2,760 square feet of office space located in Newton, Massachusetts (the “Newton Premises”) to serve as its corporate headquarters. On March 5, 2019, the Company entered into a lease agreement to amend the Newton Lease and to lease an additional 1,600 square feet of office space, commencing on June 1, 2019, located in Newton, Massachusetts (the “Additional Newton Premises”) to serve as additional space for its corporate headquarters. The term of the lease for the Newton Premises and the Additional Newton Premises expires on May 31, 2022. In addition, the Company is required to share in certain taxes and operating expenses of the Newton Premises and the Additional Newton Premises.

The Company entered into a Triple Net Lease (the “Bend Lease”) effective April 1, 2018 for certain premises consisting of 2,288 square feet of office space located in Bend, Oregon (the “Bend Premises”) to serve as a satellite facility. The term of the Bend Lease commenced on April 1, 2018 and expires on March 31, 2021 (the “Bend Term”). The Company has an option to extend the Bend Term for up to two additional periods of three years and a right of first refusal to lease an additional suite in the same building.

The leases for the Newton Premises, the Additional Newton Premises, and the Bend Premises are classified as operating leases. In the first quarter of 2019, the Company adopted ASU 2016-02 and recorded a non-cash transaction to recognize a right-of-use asset of $0.4 million in other non-current assets, as well as a lease liability of $0.2 million in other current liabilities and $0.2 million in other non-current liabilities. In the second quarter of 2019, the Company recognized an additional right-of-use asset of $0.2 million as well as an additional lease liability of $0.1 million in other current liabilities and $0.1 million in other non-current liabilities in conjunction with the commencement of the lease for the Additional Newton Premises. The Company’s lease liability represents the net present value of future lease payments utilizing a discount rate of 8%, which corresponds to the Company’s incremental borrowing rate. As of June 30, 2019, the weighted average remaining lease term was 2.7 years. For the three and six months ended June 30, 2019, the Company recorded expense of $46 thousand and $86 thousand, respectively, related to the leases. For the three and six months ended June 30, 2018, the Company recorded lease expense of $23 thousand and $60 thousand, respectively. During the three and six months ended June 30, 2019, the Company made cash payments of $50 thousand and $78 thousand, respectively, for amounts included in the measurement of lease liabilities.

The following table reconciles the undiscounted lease liabilities to the total lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2019:

Undiscounted lease liabilities for years ending December 31,:
2019 (remaining)	$	112,615
2020		229,323
2021		186,784
2022		72,400
Total undiscounted lease liabilities	$	601,122
Less effects of discounting		(63,157	)
Total lease liabilities	$	537,965

Reported as of June 30, 2019:
Other current liabilities	$	226,421
Other non-current liabilities		311,544
Total lease liabilities	$	537,965

Years Ending December 31:	Minimum Lease Payments
2019	$	151,579
2020		155,813
2021		93,204
Total	$	400,596