Polar Power, Inc. Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2019

The components of rent expense and supplemental cash flow information related to leases for the period are as follows:

	Three Months Ended March 31, 2019
Lease Cost
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	195,560

Other Information
Cash paid for amounts included in the measurement of lease liabilities for the first quarter 2019	$	—
Weighted average remaining lease term – operating leases (in years)		4.2
Average discount rate – operating leases		3.75	%

The supplemental balance sheet information related to leases for the period is as follows:

	At March 31, 2019
Operating leases
Long-term right-of-use assets	$	2,640,911

Short-term operating lease liabilities	$	542,672
Long-term operating lease liabilities		2,133,645
Total operating lease liabilities	$	2,676,317

Maturities of the Company’s lease liabilities are as follows (in thousands):

Year Ending	Operating Leases
2019 (remaining 9 months)	$	469,632
2020		692,977
2021		720,922
2022		746,752
2023		272,057
Total lease payments
Less: Imputed interest/present value discount		(226,023	)
Present value of lease liabilities	$	2,676,317