LEASE LIABILITIES AND RIGHT OF USE ASSETS (Tables)

3 Months Ended

Mar. 31, 2022

LEASE LIABILITIES AND RIGHT OF USE ASSETS

Schedule of finance leased assets included in property plant and equipment

The following summarizes the assets acquired under finance leases, included in property and equipment, net of disposals:

	March 31,		December 31,
(in thousands)	2022		2021
Computer equipment	$	256	$	256
Less: accumulated depreciation		(171)		(156)
Assets acquired under finance leases, net	$	85	$	100

Schedule of total remaining future minimum lease payments for finance leases

The following summarizes the total lease liabilities and remaining future minimum lease payments at March 31, 2022 (in thousands):

Year ending March 31,	Finance Leases		Operating Leases		Total
2022 (9 months remaining)	$	43	$	482	$	525
2023		40		528		568
2024		7		362		369
2025		—		219		219
2026		—		225		225
Total minimum lease payments		90		1,816		1,906
Less: present value discount		(5)		(186)		(191)
Total lease liabilities		85		1,630		1,715
Current portion of lease liabilities		52		530		582
Long term portion of lease liabilities	$	33	$	1,100	$	1,133

Schedule of lease expense

The following summarizes expenses associated with our finance and operating leases for the three months ended March 31, 2022 and 2021:

	Three months ended March 31,
(in thousands)	2022			2021
Finance lease expenses:
Depreciation expense	$	15	$	13
Interest on lease liabilities		1		1
Total Finance lease expense		16		14
Operating lease expense		157		64
Short-term lease and related expenses		40		53
Total lease expenses	$	213	$	131

Schedule of lease terms and discount rates

	Three months ended March 31,
(in thousands)	2022			2021
Finance lease expenses:
Depreciation expense	$	15	$	13
Interest on lease liabilities		1		1
Total Finance lease expense		16		14
Operating lease expense		157		64
Short-term lease and related expenses		40		53
Total lease expenses	$	213	$	131