Leases

6 Months Ended

Jun. 30, 2020

Leases

9. Leases

Note 9. Leases

Operating Leases

As of June 30, 2020, the Company had operating lease assets in right of use assets of approximately $0.7 million and corresponding operating lease liabilities of approximately $1.2 million.For the three and the six months ended June 30, 2020 and June 30, 2019, the following were expenses incurred in connection with our operating leases:

	For the Three Months Ended Jun. 30, 2020		For the Three Months Ended Jun. 30, 2019		For the Six Months Ended Jun. 30, 2020		For the Six Months Ended Jun. 30, 2019
(In thousands)
Operating leases
Operating lease expense	$	120	$	180	$	240	$	360
Variable lease expense		65		66		134		121
Operating lease expense		185		246		374		481
Short-term lease rent expense		64		1		127		3
Total expense	$	249	$	247	$	501	$	484

Weighted-average remaining lease term (years) – operating leases	1.6
Weighted-average discount rate – operating leases	8.0	%

Minimum future lease payments under operating leases as of June 30, 2020 are as follows:

Six months ending December 31, 2020	$	347
Year Ending December 31, 2021		614
Year Ending December 31, 2022		138
Year Ending December 31, 2023		143
Year Ending December 31, 2024		25
Total		1,267
Less present value discount		113
Operating lease liabilities		1,154
Long-term obligations under operating leases	$	522

Finance Leases

As of June 30, 2020, the Company had finance lease assets in equipment assets of approximately $0.4 million and corresponding finance lease liabilities of approximately $0.2 million.For the three and the six months ended June 30, 2020 and June 30, 2019, the following were expenses incurred in connection with our finance leases:

	For the Three Months Ended Jun. 30, 2020		For the Three Months Ended Jun. 30, 2019		For the Six Months Ended Jun. 30, 2020		For the Six Months Ended Jun. 30, 2019
(In thousands)
Finance leases
Amortization of equipment assets	$	29	$	15	$	57	$	37
Interest on lease liabilities		3		10		9		17
Total expenses	$	32	$	25	$	66	$	54

	At Jun. 30, 2020
Weighted-average remaining lease term (years) finance leases		1.1
Weighted-average discount rate finance leases		7.9	%

Minimum future lease payments under finance leases as of June 30, 2020 are as follows: 

(In thousands)
Six Months Ending December 31, 2020	$	115
Year Ending December 31, 2021		32
Year Ending December 31, 2022		21
Total		168
Less present value discount		7
Finance lease liabilities		161
Less current portion		134
Long-term obligations under finance leases	$	27