Leases

6 Months Ended

Jun. 30, 2023

Note 9. Leases

We have entered into a lease for our corporate headquarters with a remaining lease term of 7 years. This lease includes both lease and nonlease components, which are accounted for as a single lease component as we have elected the practical expedient to combine these components for all leases. As this lease does 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:


	Three Months Ended June 30, 2023			Six Months Ended June 30, 2023
Operating lease information:
Operating lease cost	$	101		$	203
Operating cash flows from operating leases		101			203
Net assets obtained in exchange for new operating lease liabilities		-			-

Weighted average remaining lease term in years		7.42			7.42
Weighted average discount rate		5.1	%		5.1	%


	Three Months Ended June 30, 2022			Six Months Ended June 30, 2022
Operating lease information:
Operating lease cost	$	100		$	200
Operating cash flows from operating leases		100			200
Net assets obtained in exchange for new operating lease liabilities		-			-

Weighted average remaining lease term in years		8.42			8.42
Weighted average discount rate		5.1	%		5.1	%

Future minimum annual lease payments are as follows:


Remainder of 2023	$	203
2024		413
2025		420
2026		427
2027		434
Thereafter		1,305
Total minimum lease payments	$	3,202
Less imputed interest		(553	)

Total operating lease liability	$	2,649