Note 10 - Leases

9 Months Ended

Sep. 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 11 months to 22 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 September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Operating lease information:
Operating cash outflows from operating leases	$	54		$	51		$	164		$	148
Weighted average remaining lease term in years		1.51			2.45			1.51			2.45
Weighted average discount rate		6.0	%		6.0	%		6.0	%		6.0	%

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

Year	Amount
	(In thousands)
2022	$	52
2023		174
2024		60
Total minimum lease payments	$	286
Less imputed interest		(6	)
Total operating lease liability	$	280
As reflected within the following balance sheet line items:
Accounts payable and accrued liabilities	$	200
Other long-term liabilities		80
Total operating lease liability	$	280

At September 30, 2022, and December 31, 2021, we had approximately $280,000 and $424,000, respectively, of right-of-use operating lease assets recorded within “buildings and equipment” on the condensed consolidated balance sheets.