Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASE OBLIGATIONS (Tables)

v3.23.1
OPERATING LEASE OBLIGATIONS (Tables)
3 Months Ended
Mar. 31, 2023
OPERATING LEASE OBLIGATIONS  
Schedule of rent expense and quantitative information

The Company recorded rent expense as follows:

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​

​

​

​

​

​

​

​

    

Three Month Period Ended March 31,

($’s in thousands)

​

2023

    

2022

Operating lease cost

​

$

24

​

$

26

Variable lease cost

​

 

1

​

​

1

Total lease cost

​

$

25

​

$

27

​

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

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​

​

​

​

​

​

​

​

    

​

​

​

​

Three-Month Period Ended March 31,

​

($’s in thousands)

    

2023

    

2022

​

Cash paid for amounts included in the measurement of lease liabilities

​

$

17

​

$

25

​

Weighted-average remaining lease term - operating leases

​

 

1.8

​

 

0.8

​

Weighted-average discount rate - operating leases

​

 

6.25

%  

 

4.0

%

​

Summary of operating lease liability

As of March 31, 2023, future minimum lease payments under lease agreements associated with the Company’s operations were as follows:

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​

​

​

$’s in thousands

    

    

​

Remainder of 2023

​

$

76

2024

​

 

102

2025

​

 

9

Total lease payments

​

 

187

Less: present value discount

​

 

(10)

Total operating lease liabilities

​

$

177