Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2023
Leases  
Schedule of Components of Lease Cost

The components of lease cost for the Company’s leases for the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands):

 

                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2023     2022     2023     2022  
                         
Operating Leases:                                
Lease cost   $ 157     $ 157     $ 470     $ 471  
                                 
Finance Leases:                                
Amortization of ROU assets     39       42       115       133  
Interest on lease liability     9       9       22       30  
Finance lease     48       51       137       163  
                                 
Short-term lease rent expense     -       -       1       7  
                                 
Total lease cost   $ 205     $ 208     $ 608     $ 641  
Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at September 30, 2023 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     5.7       3.2  
                 
Weighted average discount rate     7.5 %     7.0 %
Schedule of Operating And Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2023 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2023 (remaining)   $ 147     $ 65  
2024     519       260  
2025     433       239  
2026     415       85  
2027     406       50  
2028 and thereafter     749       28  
Total undiscounted lease payments     2,669       727  
Less: Imputed interest     (513 )     (81 )
Present value of lease payments   $ 2,156     $ 646  
                 
Current portion of operating lease obligations   $ 412     $ -  
Long-term operating lease obligations, less current portion   $ 1,744     $ -  
Current portion of finance lease obligations   $ -     $ 223  
Long-term finance lease obligations, less current portion   $ -     $ 423  
Schedule of Supplemental Cash Flow And Other Information Related To Leases

Supplemental cash flow and other information related to our leases were as follows for the three and nine months ended September 30, 2023 and 2022 (in thousands):

 

                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2023     2022     2023     2022  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flow used in operating leases   $ 145     $ 144     $ 435     $ 430  
Operating cash flow used in finance leases   $ 9     $ 9     $ 22     $ 30  
Financing cash flow used in finance leases   $ 54     $ 103     $ 135     $ 821  
                                 
ROU assets obtained in exchange for lease obligations for:                                
Finance liabilities   $ 154     $ -     $ 311     $ 147  
Operating liabilities   $ 484       -     $ 484     $ -