Note 10 - Leases

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

(10) LEASES

We have operating leases for office space with remaining lease terms ranging from 17 months to 28 months. As most of the leases do not provide an implicit rate, we calculated the right-of-use assets and lease liabilities using our secured incremental borrowing rate at the lease commencement date. We currently do not have any finance leases outstanding.

Information related to leases was as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Operating lease information:
Operating cash outflows from operating leases		53		$	50		$	111		$	97
Weighted average remaining lease term in years		1.74			2.69			1.74			2.69
Weighted average discount rate		6.0	%		6.0	%		6.0	%		6.0	%

Future minimum lease payments under non-cancellable leases as of June 30, 2022, were as follows:

Year	Amount
	(In thousands)
2022	$	104
2023		174
2024		59
Total minimum lease payments	$	337
Less imputed interest		(8	)
Total operating lease liability	$	329
As reflected on balance sheet:
Accounts payable and accrued liabilities	$	208
Other long-term liabilities		121
Total operating lease liability	$	329

At June 30, 2022, and December 31, 2021, we had approximately $329,000 and $424,000, respectively, of right-of-use operating lease assets recorded within “buildings and equipment” on the condensed consolidated balance sheets.