Quarterly report pursuant to Section 13 or 15(d)

Leases

Leases

6 Months Ended

Jun. 30, 2019

The Company currently maintains one finance lease for equipment and two operating leases for real estate. Our finance lease is immaterial to our condensed consolidated financial statements. Our operating leases have terms of 76 and 42 months and include one or more options to extend the duration of the agreements. These operating leases are included in "Other assets" on the Company's June 30, 2019 condensed consolidated balance sheet and represent the Company's right to use the underlying assets for the term of the leases. The Company's obligation to make lease payments are included in "Lease liability, current portion" and "Lease liability, non-current portion" on the Company's June 30, 2019 condensed consolidated balance sheet. The Company recognized sublease income of $105,000 and $149,000 for the three and six months ended June 30, 2019, respectively.

Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, as of June 30, 2019, total right-of-use assets were approximately $1.42 million and operating lease liabilities were approximately $1.63 million.

Information related to the Company's right-of-use assets and related lease liabilities were as follows (in thousands):



	Three months ended June 30, 2019		Six months ended June 30, 2019
Cash paid for operating lease liabilities	$	155	$	309
Operating Lease Cost	$	144	$	289



	June 30, 2019
Weighted-average remaining lease term	2.7 Years
Weighted-average discount rate	9.66	%

Maturities of lease liabilities as of June 30, 2019 were as follows (in thousands):




Due in 12-month period ended June 30,
2020	$	633
2021	$	652
2022	$	560
	$	1,845
Less imputed interest	$	(213	)
Total lease liabilities	$	1,632

Current operating lease liabilities	$	514
Non-current operating lease liabilities	$	1,118
	$	1,632

Note: Excludes a finance lease with current liability of $6 and a non-current liability of $28.