Assure Holdings Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

6 Months Ended

Jun. 30, 2023

The condensed consolidated balance sheets include the following amounts for right of use (“ROU”) assets as of June 30, 2023 and December 31, 2022 (in thousands):


	June 30,			December 31,
	2023		2022
Operating	$	561	$	672
Finance		230		382
Total	$	791	$	1,054

Schedule of components of lease cost

The following are the components of lease cost for operating and finance leases (in thousands):


	Six Months Ended June 30,
	2023		2022
Lease cost:
Operating leases:
Amortization of ROU assets	$	151	$	154
Interest on lease liabilities		37		46
Total operating lease cost		188		200
Finance leases:
Amortization of ROU assets		152		291
Interest on lease liabilities		25		46
Total finance lease cost		177		337
Total lease cost	$	365	$	537

Schedule of weighted average lease terms and discount rates for operating and finance leases


	As of	As of
	June 30, 2023	June 30, 2022
Weighted average remaining lease term (years):
Operating leases	2.3	3.3
Finance leases	2.2	2.7
Weighted average discount rate (%):
Operating leases	10.0	10.0
Finance leases	7.9	7.8

Schedule of future minimum lease payments and related lease liabilities of financing leases

Future minimum lease payments and related lease liabilities as of June 30, 2023 were as follows (in thousands):


					Total
	Operating		Finance		Lease
	Leases		Leases		Liabilities
Remainder of 2023	$	162	$	162	$	324
2024		328		268		596
2025		279		153		432
2026		—		23		23
Total lease payments		769		606		1,375
Less: imputed interest		(88)		(51)		(139)
Present value of lease liabilities		681		555		1,236
Less: current portion of lease liabilities		261		281		542
Noncurrent lease liabilities	$	420	$	274	$	694