Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2022
LEASES  
Schedule of right of use assets

The condensed consolidated balance sheets include the following amounts for right of use (“ROU”) assets as of June 30, 2022 and December 31, 2021 (in thousands):

    

June 30, 

December 31, 

2022

    

2021

Operating

 

$

779

 

$

956

Finance

 

579

 

743

Total

 

$

1,358

 

$

1,699

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, 

2022

    

2021

Lease cost:

Operating leases:

Amortization of ROU assets

$

154

$

127

Interest on lease liabilities

46

Total operating lease cost

200

127

Finance leases:

Amortization of ROU assets

291

249

Interest on lease liabilities

46

42

Total finance lease cost

337

291

Total lease cost

$

537

$

418

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

As of

As of

    

June 30, 2022

June 30, 2021

Weighted average remaining lease term (years):

Operating leases

 

3.3

Finance leases

 

2.7

3.3

Weighted average discount rate (%):

Operating leases

 

10.0

Finance leases

 

7.8

8.0

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

Future minimum lease payments and related lease liabilities as of June 30, 2022 were as follows (in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

Remainder of 2022

$

144

$

336

$

480

2023

 

303

 

360

 

663

2024

 

327

 

268

 

595

2025

279

152

431

2026

23

23

Total lease payments

 

1,053

 

1,139

 

2,192

Less: imputed interest

 

(166)

 

(111)

 

(277)

Present value of lease liabilities

887

1,028

1,915

Less: current portion of lease liabilities

 

206

 

473

 

679

Noncurrent lease liabilities

$

681

$

555

$

1,236

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, 2022 were as follows (in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

Remainder of 2022

$

144

$

336

$

480

2023

 

303

 

360

 

663

2024

 

327

 

268

 

595

2025

279

152

431

2026

23

23

Total lease payments

 

1,053

 

1,139

 

2,192

Less: imputed interest

 

(166)

 

(111)

 

(277)

Present value of lease liabilities

887

1,028

1,915

Less: current portion of lease liabilities

 

206

 

473

 

679

Noncurrent lease liabilities

$

681

$

555

$

1,236