|6 Months Ended|
Jun. 30, 2020
|Operating leases [Abstract]|
Note 8 – Operating leases
The table below presents certain information related to the lease costs for operating leases for the three and six months ended June 30, 2020 and 2019:
As of June 30, 2020, the weighted-average remaining operating lease term was 2.1 years and the incremental borrowing rate was 12.5% for operating leases recognized on the Company’s condensed consolidated balance sheets. Short term lease costs, excluding expenses relating to leases with a lease term of one month or less, were less than $0.1 million for both the three and six months ended June 30, 2020, respectively. During the three and six months ended June 30, 2019, the Company recorded no short term lease costs.
Rent expense was $0.1 and $0.2 million for the three and six months ended June 30, 2020, respectively, and $0.1 million for both the three and six months ended June 30, 2019.
Undiscounted cash flows
The table below reconciles the undiscounted cash flows for the remaining term of the operating lease liabilities recorded on the condensed consolidated balance sheets.
The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.
Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef