Annual report pursuant to Section 13 and 15(d)

Operating Leases

v3.10.0.1
Operating Leases
12 Months Ended
Dec. 31, 2018
Leases, Operating [Abstract]  
Leases of Lessee Disclosure [Text Block]
11.
Operating Leases
 
The Company leases one commercial manufacturing facility through an operating lease agreement. The Company has an obligation for its commercial manufacturing facility located in Langhorne, Pennsylvania, through 2026. The Company leases one corporate office through an operating lease agreement, located in Yardley, Pennsylvania which,
effective February 1, 2019
, this property has been subleased to The Pinnacle Health Group, Inc. through April 20, 2023 and the Company receives monthly lease payments.
 
Future minimum lease payments, excluding expense reimbursements, under noncancelable operating leases at December 31, 2018 are as follows (in thousands):
 
 
 
 
Gross Lease
Payments
 
 
 
Sublet Lease
Payments
 
 
 
Net Lease
Payments
 
2019
 
$
430
 
 
$
223
 
 
$
207
 
2020
 
 
434
 
 
 
227
 
 
 
207
 
2021
 
 
439
 
 
 
232
 
 
 
207
 
2022
 
 
443
 
 
 
236
 
 
 
207
 
2023
 
 
287
 
 
 
80
 
 
 
207
 
Thereafter
 
 
434
 
 
 
-
 
 
 
434
 
Total
 
$
2,467
 
 
$
998
 
 
$
1,469
 
 
Total rent expense for the Langhorne facility was $0.207 million and $0.207 million for the years ended December 31, 2018 and 2017, respectively. 
The Company received $0.154 million in sublet lease income in 2018
.
 
Total rent payments for the Yardley facility was $0.230 million and $0.218 million for the years ended December 31, 2018 and 2017, respectively.
 
The Company leased an additional corporate office through May 7, 2018, located in Eden Prairie, Minnesota, through the completion of the AST to Celularity, this lease has been fully reassigned to Celularity and is no longer an obligation to the Company.