Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Leases

We lease three facilities in Los Angeles, California, one facility in Dallas, Texas, and one facility in Austin, Texas, all providing office space. We also lease a facility in City of Industry, California, providing warehouse space. These leases expire between 2022 and 2024. During the three months ended March 31, 2022, we exited a lease in Boston, Massachusetts. We currently occupy two of the facilities in Los Angeles, the warehouse space in City of Industry, and the office facility in Austin, Texas; we have subleases in place for the third Los Angeles property and the Dallas property. With the exception of these spaces described above, we currently operate out of remote employment sites with a remote office located at 25587 Conifer Road, Suite 105-231, Conifer, Colorado 80433.

Lease expenses, net of common charges and sublet proceeds, for the three months ended March 31, 2022 and 2021 were $139,000 and $267,000, respectively.

The following provides balance sheet information related to leases as of March 31, 2022 and December 31, 2021 (in thousands):

		March 31, 2022		December 31, 2021
Assets
	Operating lease, right-of-use asset, net	$	532	$	659
Liabilities
	Current portion of operating lease liabilities	$	395	$	492
	Operating lease liabilities, net of current portion	170		236
	Total operating lease liabilities	$	565	$	728

The following table summarizes the future undiscounted cash payments reconciled to the lease liability (in thousands):

Remaining Lease Payments
2022	$	346
2023	225
2024	17
Total lease payments	588
Effect of discounting	(23)
Total lease liability	$	565

During the three months ended March 31, 2022, we did not enter into any new leases and we terminated our Boston, MA lease upon expiration. During the year ended December 31, 2021, we entered into one new operating lease, modified one operating lease, and terminated two operating leases. The following table provides a reconciliation of activity for our right-of-use (“ROU”) assets and lease liabilities (in thousands):

	Right-of-Use Asset		Operating Lease Liability
Balance at December 31, 2020	$	903	$	1,432
Additions	60		60
Terminations and Modifications	192		156
Amortization and Payments	(496)		(920)
Balance at December 31, 2021	659		728
Amortization and Payments	(127)		(163)
Balance at March 31, 2022	$	532	$	565

The ROU assets and lease liabilities are recorded on the Company’s condensed consolidated Balance Sheets as of March 31, 2022 and December 31, 2021.