Leases Leases (Notes)

3 Months Ended

Mar. 31, 2020

Operating Leases

The Company's lease on its Woburn, Massachusetts facilities (the “Woburn Lease”) extends through September 2025 with a monthly base rent of $13,846 and a 5-year extension option. The Company's lease on its Waltham, Massachusetts facilities, now inactive and offered for sublet, extends through February 2022 with an average monthly base rent of $41,074 and a 5-year extension option. At March 31, 2020, the Company recorded an impairment reserve of $487,000 that reduced the right of use asset for Waltham idle facility costs.

Future minimum lease payments under non-cancellable operating leases as of March 31, 2020 are as follows:



2020	482,391
2021	653,164
2022	247,347
2023	165,785
2024	165,785
2025	117,431
Total minimum lease payments	$	1,831,903

Weighted-average discount rate, 14.7%	$	430,298
Lease obligation, current portion	591,370
Lease obligation, net of current portion	810,235
	$	1,831,903

Total recorded rent expense was $166,904 and $166,024, for the quarters ended March 31, 2020 and 2019, respectively. The Company records rent expense on its facility leases on a straight-line basis over the lease term. Weighted average remaining operating lease term was 3.4 years as of March 31, 2020.