LEASES

6 Months Ended

Jun. 30, 2021

LEASES

8. LEASES

8.  LEASES

The Company adopted ASU 2016-02, Leases (Topic 842) on January 1, 2019 using the modified retrospective approach. The Company has elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less.

Amortization of Right of Use operating lease assets was $20 and $46 for the three and six months ended June 30, 2020 and was $30 and $60 for the three and six months ended June 30, 2020, respectively.

Operating lease expense for capitalized operating leases included in operating activities was $23 and $50 for the three and six months ended June 30, 2021 and was $34 and $69 for the three and six months ended June 30, 2020, respectively. 

Operating lease obligations recorded on the balance sheet at June 30, 2021 are:

Operating lease liability- short term	$	94
Operating lease liability - long term		8
Total Operating Lease Liability	$	102

Future lease payments included in the measurement of lease liabilities on the balance sheet at June 30, 2021 for future periods are as follows:

2021 (6 months)	$	48
2022		58
Total future minimum lease payments		106
Less imputed interest		(4	)
Total	$	102

The weighted average remaining lease term is 1.08 years and the weighted average discount rate is 7.0%.

The Company does not have any finance leases.