Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.19.1
COMMITMENTS AND CONTINGENCIES (Tables)
3 Months Ended
Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Summary of Balance Sheet Information
The balance sheet classification of the Company’s right-of-use asset and lease liabilities was as follows (in thousands):
 
March 31, 2019
Operating lease right of use assets
$
2,603

 
 
Operating lease liabilities
 
Current portion included in current liabilities
482

Long Term portion included in non-current liabilities
2,201

Total Operating lease liabilities
$
2,683

Components of Lease Expense
The components of lease expenses, net which were included in Total expenses in the Company’s consolidated statement of operations, were as follows (in thousands):
 
For Three Months ended March 31, 2019
Operating lease cost
$
198

Variable lease cost

Short term lease income
(60
)
 
$
138

Schedule of Future Minimum Rental Payments
As required, the following disclosure is provided for periods prior to adoption. Minimum lease commitments as of December 31, 2018 that have initial or remaining lease terms in excess of one year are as follows (in thousands):
2019
$
747

2020
773

2021
801

2022
829

2023
425

Total lease payments
$
3,575

As of March 31, 2019, the maturities of the Company’s operating lease liabilities were as follows (in thousands):
For the year ending December 31,
 
2019, remainder
$
562

2020
773

2021
801

2022
829

2023
425

Total lease payments
$
3,390

Less: Present value adjustment
(707
)
Operating lease liabilities
$
2,683