Commitments and Contingencies Operating lease commitments The Company leases its Corvallis, Oregon, facilities and office space under an operating lease which was signed on November 3, 2017 and commenced on January 1, 2018. This lease expires December 31, 2021. The Company had a lease for the same location prior to this lease. On May 26, 2017 the Company and M&amp;F Incorporated entered into a ten -year office lease agreement (the New HQ Lease), pursuant to which the Company agreed to lease 3,200 square feet at 31 East 62 nd Street, New York, New York. The Company is utilizing premises leased under the New HQ Lease as its corporate headquarters. The Company has no leases that qualify as finance leases. Operating lease costs totaled $0.6 million and $0.7 million for the year ended December 31, 2019 and 2018, respectively. Cash paid for amounts included in the measurement of lease liabilities from operating cash flows was $0.6 million and $0.6 million for the years ended December 31, 2019 and 2018, respectively. As of December 31, 2019, the weighted-average remaining lease term of the Companys operating leases was 6.3 years while the weighted-average discount rate was 4.53% . The following is a maturity analysis of the Company's lease liabilities as of December 31, 2019 : 2020 $ 542,340 2021 600,362 2022 368,467 2023 402,078 2024 404,258 Thereafter 982,881 Total undiscounted cash flows under operating leases 3,300,386 Less: Imputed interest (482,097 ) Present value of lease liabilities $ 2,818,289 As of December 31, 2019, approximately $2.4 million of the lease liability is included in Other liabilities on the consolidated balance sheet with the current portion included in accrued expenses. As previously disclosed in the Company's 2018 Annual Report on Form 10-K and pursuant to ASC 840, Leases , the predecessor to ASC 842, future minimum lease payments for operating leases having initial or remaining noncancellable lease terms in excess of one year as of December 31, 2018 were as follows: 2019 $ 541,376 2020 304,000 2021 304,000 2022 320,774 2023 352,000 Thereafter 1,197,778 Total $ 3,019,928 Legal Proceedings From time to time, we may be involved in a variety of claims, suits, investigations and proceedings arising from the ordinary course of our business, collections claims, breach of contract claims, labor and employment claims, tax and other matters. Although such claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty, we believe that the resolution of such current pending matters, if any, will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flow. Regardless of the outcome, litigation can have an adverse impact on us because of legal costs, diversion of management resources and other factors. Purchase Commitments In the course of our business, the Company regularly enters into agreements with third party organizations to provide contract manufacturing services and research and development services. Under these agreements, the Company issues purchase orders which obligate the Company to pay a specified price when agreed-upon services are performed. Commitments under the purchase orders do not exceed our planned commercial and research and development needs. As of December 31, 2019 the Company has approximately $26.8 million of purchase commitments.