Lease Liability

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lease Liability

7. Lease Liability

The Company has operating leases predominantly for operating facilities. As of September 30, 2020, the remaining lease terms on our operating leases range from less than one to two years. DSS Plastics Group which finalized the sale of its assets on August 14, 2020 is not included in the lease liability calculation (see Note 10). Renewal options to extend our leases have not been exercised due to uncertainty. Termination options are not reasonably certain of exercise by the Company. There is no transfer of title or option to purchase the leased assets upon expiration. There are no residual value guarantees or material restrictive covenants. There are no significant finance leases as of September 30, 2020.

Future minimum lease payments as of September 30, 2020 are as follows:

Maturity of Lease Liability
	Totals
2020	$	11,000
2021		6,000
2022		1,000
2023		-
2024		-
Total lease payments		18,000
Less: Imputed Interest		(1,000	)
Total lease liability	$	17,000
Current	$	13,000
Noncurrent	$	4,000
Weighted-average remaining lease term (years)		0.8
Weighted-average discount rate		5.4	%