Annual report pursuant to Section 13 and 15(d)

OPERATING LEASE OBLIGATIONS (Tables)

v3.23.1
OPERATING LEASE OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2022
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, 

    

2022

    

2021

Operating lease cost

$

93

$

89

Variable lease cost

4

4

Total lease cost

$

97

$

93

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

    

For the Years Ended December 31, 

 

    

2022

    

2021

 

Cash paid for amounts included in the measurement of lease liabilities

$

100

$

91

Right-of-use assets exchanged for new operating lease liabilities

$

188

$

Weighted-average remaining lease term - operating leases

 

2.1

 

1.0

Weighted-average discount rate - operating leases

 

6.25

%  

 

4.0

%

Summary of operating lease liability

    

For the year ended December 31,

    

($’s in thousands)

2023

$

92

2024

 

102

2025

 

9

Total lease payments

203

Less: present value discount

(12)

Total operating lease liabilities

$

191