Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

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Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases  
Schedule of Components of Lease Cost

The components of lease cost for the Company’s leases were as follows (in thousands):

 

    2024     2023  
    Three Months Ended  
    March 31,  
    2024     2023  
Operating Lease:                
Lease cost   $ 143     $ 156  
                 
Finance Leases:                
Amortization of ROU assets     65       38  
Interst on lease liablity     22       6  
Finance lease     87       44  
                 
Total lease cost   $ 230     $ 200  
Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at March 31, 2024 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     5.4       4.3  
                 
Weighted average discount rate     7.6 %     8.8 %

 

 

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at March 31, 2023 were:

 

    Operating Leases     Finance Leases  
Weighted average remaining lease terms (years)     6.1       3.0  
                 
Weighted average discount rate     7.8 %     5.5 %
Schedule of Operating and Finance Lease Liability Maturity

The following table reconciles the undiscounted cash flows for the operating and finance leases at March 31, 2024, to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 

    Operating Leases     Finance Leases  
2024   $ 372     $ 275  
2025     433       345  
2026     416       192  
2027     406       157  
2028     383       134  
2029 and thereafter     366       102  
Total undiscounted lease payments     2,376       1,205  
Less: Imputed interest     (436 )     (212 )
Present value of lease payments   $ 1,940     $ 993  
                 
Current portion of operating lease obligations   $ 346     $  
Long-term operating lease obligations, less current portion   $ 1,594     $  
Current portion of finance lease obligations   $     $ 287  
Long-term finance lease obligations, less current portion   $     $ 706  

Schedule of Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to our leases were as follows (in thousands):

 

    2024     2023  
    Three Months Ended  
    March 31,  
    2024     2023  
Cash paid for amounts included in the measurement of lease liabilities:            
Operating cash flow from operating leases   $ 147     $ 144  
Operating cash flow from finance leases   $ 22     $ 6  
Financing cash flow from finance leases   $ 75     $ 41  
                 
ROU assets obtained in exchange for lease obligations for:                
Finance liabilities   $       $ 50