Annual report [Section 13 and 15(d), not S-K Item 405]

OPERATING LEASE OBLIGATIONS (Tables)

v3.25.1
OPERATING LEASE OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2024
OPERATING LEASE OBLIGATIONS  
Schedule of rent expense and quantitative information

The Company recorded rent expense as follows (dollars in thousands):

    

For the Years Ended December 31, 

    

2024

    

2023

Operating lease cost

$

98

$

97

Variable lease cost

5

5

Total lease cost

$

103

$

102

The following table summarizes quantitative information about the Company’s operating leases (dollars in thousands):

    

For the Years Ended December 31, 

 

    

2024

    

2023

 

Cash paid for amounts included in the measurement of lease liabilities

$

102

$

92

Weighted-average remaining lease term - operating leases

 

2.2

 

1.1

Weighted-average discount rate - operating leases

 

7.35

%  

 

6.25

%

Schedule of operating lease liability

    

For the year ended December 31,

    

($’s in thousands)

2025

$

94

2026

105

2027

 

18

Total lease payments

217

Less: present value discount

(16)

Total operating lease liabilities

$

201