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:

    

Three-Month Periods Ended

March 31,

($’s in thousands)

2025

    

2024

Operating lease cost

$

25

$

24

Variable lease cost

 

1

1

Total lease cost

$

26

$

25

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

    

Three-Month Periods Ended

March 31,

($’s in thousands)

    

2025

    

2024

    

Cash paid for amounts included in the measurement of lease liabilities

$

17

$

25

Weighted-average remaining lease term - operating leases

 

1.9

 

0.8

Weighted-average discount rate - operating leases

 

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:

$’s in thousands

    

Remainder of 2025

$

77

2026

 

105

2027

 

18

Total lease payments

 

200

Less: present value discount

 

(13)

Total operating lease liabilities

$

187