Quarterly report [Sections 13 or 15(d)]

OPERATING LEASE OBLIGATIONS (Tables)

v3.25.2
OPERATING LEASE OBLIGATIONS (Tables)
6 Months Ended
Jun. 30, 2025
OPERATING LEASE OBLIGATIONS  
Schedule of rent expense and quantitative information

The Company recorded lease expense as follows:

    

Three-Month Periods Ended

Six-Month Periods Ended

June 30, 

June 30, 

($’s in thousands)

2025

    

2024

    

2025

    

2024

Operating lease cost

$

25

$

24

$

50

$

48

Variable lease cost

 

2

2

3

3

Total lease cost

$

27

$

26

$

53

$

51

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

    

Three-Month Periods Ended

Six-Month Periods Ended

June 30, 

June 30, 

($’s in thousands)

    

2025

    

2024

    

2025

    

2024

Cash paid for amounts included in the measurement of lease liabilities

$

26

$

26

$

43

$

51

Weighted-average remaining lease term - operating leases

 

1.7

 

0.6

 

1.7

 

0.6

Weighted-average discount rate - operating leases

 

7.35

%

 

6.25

%

 

7.35

%

 

6.25

%

Schedule of operating lease liability

As of June 30, 2025, future minimum lease payments under lease agreements associated with the Company’s operations were as follows:

$’s in thousands

    

Remainder of 2025

$

51

2026

 

105

2027

 

18

Total lease payments

 

174

Less: present value discount

 

(9)

Total operating lease liabilities

$

165