We currently lease approximately square feet of office space at Bradenton Avenue, Dublin, Ohio, as our principal offices, at a monthly base rent of approximately The current lease term expires in with an option to extend for an additional years. In we executed an amendment to extend the lease term through at a monthly base rent of approximately

 

We also leased approximately square feet of office space at Sylvan Avenue, Englewood Cliffs, New Jersey, at a monthly base rent of approximately The lease for the New Jersey office space expired on and we did renew.

 

In addition, we currently lease approximately square feet of office space at Blazer Parkway, Dublin, Ohio, formerly our principal offices, at a monthly base rent of approximately during The current lease term expires in with an option to extend for an additional years. The Company does intend to renew this lease. In the Company executed a sublease arrangement for the Blazer space, providing for monthly sublease payments to Navidea of approximately through

 

We also currently lease a vehicle at a monthly payment of approximately expiring in and office equipment at a monthly payment of approximately expiring in

 

We adopted ASU - effective The following table summarizes the impact of the adoption of ASU - on our balance sheet at

 

		Operating Lease Right- of-Use Assets				Operating Lease Liabilities				Terminated Lease Liability				Deferred Rent
Pre-adoption balance		$	—			$	—			$	589,173			$	2,587
Change			406,842				998,602				(589,173	)			(2,587	)
Post-adoption balance		$	406,842			$	998,602			$	—			$	—

 

Total operating lease expense was for the year ended Sublease income was for the year ended and was recorded in selling, general and administrative expenses. Prior to the implementation of ASU - total rental expense related to our operating leases was for the year ended

 

The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating leases as of

 

Maturity of Lease Liabilities		Operating Lease Payments
2020		$	320,662
2021			308,407
2022			254,966
2023			1,626
2024			1,355
Total undiscounted operating lease payments			887,016
Less imputed interest			124,119
Present value of operating lease liabilities		$	762,897

 

Balance Sheet Classification
Current lease liabilities		$	250,553
Noncurrent lease liabilities			512,344
Total operating lease liabilities		$	762,897

 

Other Information
Weighted-average remaining lease term for operating leases (in years)			2.7
Weighted-average discount rate for operating leases			10.9	%

 

An initial right-of-use lease asset of was recognized as a non-cash asset addition with the adoption of ASU - The discount rates used for each lease were based principally on the Platinum debt, which was secured and outstanding for most of A “build-up” method was utilized where the approach was to estimate the risk/credit spread priced into the debt rate and then adjust that for the remaining term of each lease. Additionally, some market research was completed on the Company’s peer group as identified for purposes of compensation analysis. Cash paid for amounts included in the present value of operating lease liabilities was during the year ended and is included in operating cash flows.