Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Note 10 — Leases:

The Company entered into an operating lease for office space in Germany that began in July 2017. The rental agreement has a three-month term which automatically renews and includes a monthly cost of 400 Euros. The Company elected to apply the short-term practical expedient to the office lease. The Company also has an operating lease for office equipment.

Prior to the adoption of ASC 842, operating lease expense of approximately $6,000 was recognized in the Company's consolidated statements of operations and comprehensive loss for the year ended December 31, 2019.

Operating lease expense in the Company's consolidated statements of operations and comprehensive loss for the year ended December 31, 2019 was approximately $6,000, which includes costs associated with leases for which ROU assets have been recognized as well as short-term leases.

At December 31, 2019, the Company has a total operating lease liability of $4,000. Approximately $2,000 each are included in accrued expenses and operating lease liabilities, net of current portion on the consolidated balance sheet. Operating ROU assets as of December 31, 2019 is $5,000 and is included in property and equipment, net on the consolidated balance sheet.

For the year ended December 31, 2019, cash paid for amounts included in the measurement of lease liabilities in operating cash flows from operating leases was $6,000.

The weighted average remaining lease term and weighted average discount rate for operating leases were 2.8 years and 10%, respectively, as of December 31, 2019.

As of December 31, 2019, maturities of lease liabilities were as follows:

2020	$	2,000
2021		2,000
2022		1,000
Total future minimum lease payments		5,000
Less imputed interest		(1,000	)
Total	$	4,000