The Company has operating leases for its corporate headquarters and office equipment, including copiers. The Company leases approximately 32,000 square foot facility in Malvern, Pennsylvania for our corporate headquarters, which includes office and warehouse space. In Q1 2019, the Company signed a lease modification for its Malvern facility that extended the lease through February 2028 and included approximately 10,000 square foot additional premises. The Company has an option to extend the lease on its combined 42,000 square foot facility for an additional five-year term; however, the Company has determined it is not reasonably certain to exercise the option at this time due to on-going personnel expansion efforts. The Company also maintains operating leases on office equipment, including copiers, which end in March 2023. The Company does not currently have any finance leases or executed leases that have not yet commenced.

For the three months ended March 31, 2019 there was $0.1 million of operating lease rent expense. As of March 31, 2019 the weighted-average remaining lease term of operating leases was 9 years and the weighted-average discount rate was 6.5%.

The following table presents the supplemental cash flow information as a lessee related to leases (in thousands):

	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	117
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	4,164

The following table sets forth by year the required future payments of operating lease liabilities (in thousands):

	March 31, 2019
Remainder of 2019	$	388
2020		584
2021		613
2022		637
2023		634
Thereafter		2,792
Total lease payments		5,648
Less imputed interest		(1,399	)
Present value of operating lease liabilities	$	4,249

The following table sets forth by year the minimum expected lease payments under non-cancelable operating leases (in thousands) as of December 31, 2018:

	December 31, 2018
2019	$	547
2020		560
2021		88
Total lease payments	$	1,195

Certain costumers have purchased NeuroStar Advanced Therapy Systems on a rent-to-own basis. The lease term is three years with a customer option to purchase the NeuroStar Advanced Therapy System at the end of the lease.

The following table sets forth the profit recognized on sales-type leases (in thousands):

	Three Months ended March 31,
	2019		2018
Profit recognized at commencement, net	$	144	$	-
Interest Income		-		-
Total sales-type lease income	$	144	$	-

The following table sets forth a maturity analysis of the undiscounted lease receivables related to sales-type leases (in thousands):

	March 31, 2019
Remainder of 2019	$	-
2020		135
2021		135
2022		90
Total sales-type lease receivables	$	360

As of March 31, 2019, the carrying amount of the lease receivables is $0.4 million. The Company does not have any unguaranteed residual assets.

NeuroStar Advanced Therapy Systems sold on a rent-to-own basis prior to January 1, 2019 are accounted for as operating leases. For the three months ended March 31, 2019 and 2018, the Company recognized operating lease income of $0.2 million and $0.3, respectively.

The following table sets forth a maturity analysis of its undiscounted lease receivables related to operating leases:

	March 31, 2019
Remainder of 2019	$	410
2020		365
2021		150
Total lease receivables	$	925

The Company maintained Rental Equipment, net of $0.8 million and $0.9 million, as of March 31, 2019 and December 31, 2018, respectively, which are included in “Property and equipment, net” on the balance sheet. Rental equipment depreciation expense was $0.05 million and $0.06 million for the three months ended March 31, 2019 and 2018, respectively.