Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.22.0.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2021
LEASES  
Schedule of right of use assets

The consolidated balance sheets include the following amounts for ROU assets as of December 31, 2021 and 2020 (stated in thousands):

    

December 31, 

2021

    

2020

Operating

 

$

956

 

$

124

Finance

 

743

 

608

Total

 

$

1,699

 

$

732

Schedule of components of lease cost

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

Year Ended December 31, 

2021

    

2020

Lease cost:

Operating leases:

Amortization of ROU assets

$

124

$

212

Interest on lease liabilities

15

Total operating lease cost

124

227

Finance leases:

Amortization of ROU assets

381

371

Interest on lease liabilities

67

64

Total finance lease cost

448

435

Total lease cost

$

572

$

662

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

As of

As of

    

December 31, 2021

December 31, 2020

Weighted average remaining lease term (years):

Operating leases

 

3.8

0.5

Finance leases

 

2.9

3.3

Weighted average discount rate:

Operating leases

 

10.0

6.9

Finance leases

 

8.0

7.9

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

Future minimum lease payments and related lease liabilities as of December 31, 2021 were as follows (stated in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

2022

$

295

$

623

$

918

2023

 

303

 

306

 

609

2024

 

328

 

239

 

567

2025

278

148

426

2026

23

23

Thereafter

 

 

 

Total lease payments

 

1,204

 

1,339

 

2,543

Less: imputed interest

 

(212)

 

(147)

 

(359)

Present value of lease liabilities

992

1,192

2,184

Less: current portion of lease liabilities

 

153

 

549

 

702

Noncurrent lease liabilities

$

839

$

643

$

1,482

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

Future minimum lease payments and related lease liabilities as of December 31, 2021 were as follows (stated in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

2022

$

295

$

623

$

918

2023

 

303

 

306

 

609

2024

 

328

 

239

 

567

2025

278

148

426

2026

23

23

Thereafter

 

 

 

Total lease payments

 

1,204

 

1,339

 

2,543

Less: imputed interest

 

(212)

 

(147)

 

(359)

Present value of lease liabilities

992

1,192

2,184

Less: current portion of lease liabilities

 

153

 

549

 

702

Noncurrent lease liabilities

$

839

$

643

$

1,482