Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.1
LEASES (Tables)
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Lessee, Operating Lease, Lease Terms
The Company's weighted average remaining lease term and weighted average discount rate for operating leases as of March 31, 2020 is shown below:
 
 
March 31, 2020
Weighted average remaining lease term (years)
 
4.02
Weighted average discount rate (%)
 
4.75
Lessee, Operating Lease, Liability, Maturity
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the total operating lease liabilities recognized on the condensed consolidated balance sheets as of March 31, 2020:
 
 
March 31, 2020

April 1, 2020 through December 31, 2020
 
$
562,000

2021
 
748,000

2022
 
557,000

2023
 
555,000

2024
 
376,000

Total minimum lease payments
 
2,798,000

Less: imputed interest
 
(275,000
)
Total operating lease liabilities
 
$
2,523,000