Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments

v3.19.1
Fair Value of Financial Instruments
3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

Note 7 – Fair Value of Financial Instruments

 

Cash and cash equivalents, accounts receivable, inventory, accounts payable and accrued expenses are carried at cost, which approximates fair value due to their short maturities. Long-lived assets are measured and disclosed at fair value on a nonrecurring basis if an impairment is identified. There were no long-lived assets measured at fair value as of March 31, 2019.

 

The Company’s long-term debt, including the current portion, is carried at cost on the consolidated balance sheets. Fair value of long-term debt, including the current portion, is estimated based on Level 2 inputs. Fair value is determined by discounting future cash flows using interest rates available for issues with similar terms and maturities.

 

The estimated fair values of long-term debt, for which carrying values do not approximate fair value, are as follows:

 

    March 31,     December 31,  
    2019     2018  
Carrying amount of long-term debt, including current portion (1)   $ 10,032     $ 10,830  
Fair value of long-term debt, including current portion   $ 6,616     $ 7,648  

 

(1) Excludes the discounts on warrants, net and debt issuance costs