Leases

6 Months Ended

Jun. 30, 2019

In June 2017, the Company entered into an operating lease agreement to lease the office space in Vancouver, Canada commencing March 1, 2018. The lease expires on February 28, 2023 and can be extended for an additional term of 5 years.

In January 2016, the Company entered into an operating lease agreement to lease office space near San Francisco, California. In September 2017, the Company entered into a sublease agreement to sublet the premises to a third party. Both the operating lease and sublease agreements expired on April 30, 2019.

On January 1, 2019, with the adoption of ASU 2016-02, the Company recognized operating lease right-of-use asset of $0.8 million and operating lease liabilities of $0.7 million for these leases.

The components of lease expense and related cash flows for the three and six months ended June 30, 2019 were as follows:

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
	(in thousands)
Operating lease cost	$	51	$	102
Short-term lease cost		29		58
		80		160
Operating cash flows used for operating leases	$	52	$	92

The total rent expense was $0.1 and $0.2 million for the three and six months ended June 30, 2018, respectively.

As of June 30, 2019, the weighted average remaining lease term and discount rate for the operating lease are 3.67 years and 6.5%, respectively.

As of June 30, 2019, maturities of lease liability due under the lease agreement are as follows:

Years Ending December 31:	Operating Leases
	(in thousands)
Remainder of 2019	$	107
2020		216
2021		219
2022		175
Total lease payments		717
Less imputed interest		(74	)
Total	$	643

In addition to base rent, these leases require payment of non-lease and non-component costs. These costs are not included in the table above.