Quarterly report [Sections 13 or 15(d)]

OPERATING LEASE OBLIGATIONS (Tables)

v3.25.1
OPERATING LEASE OBLIGATIONS (Tables)
3 Months Ended
Mar. 31, 2025
OPERATING LEASE OBLIGATIONS  
Schedule of rent expense and quantitative information

The Company recorded lease expense as follows:

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Three-Month Periods Ended

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​

March 31,

($’s in thousands)

​

2025

    

2024

Operating lease cost

​

$

25

​

$

24

Variable lease cost

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1

​

​

1

Total lease cost

​

$

26

​

$

25

​

The following table summarizes quantitative information about the Company’s operating leases:

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Three-Month Periods Ended

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​

​

March 31,

​

($’s in thousands)

    

2025

    

2024

    

Cash paid for amounts included in the measurement of lease liabilities

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$

17

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$

25

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Weighted-average remaining lease term - operating leases

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1.9

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0.8

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Weighted-average discount rate - operating leases

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7.35

%

 

6.25

%

Schedule of operating lease liability

As of March 31, 2025, future minimum lease payments under lease agreements associated with the Company’s operations were as follows:

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$’s in thousands

    

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Remainder of 2025

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$

77

2026

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105

2027

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18

Total lease payments

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200

Less: present value discount

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(13)

Total operating lease liabilities

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$

187

​