Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASE OBLIGATIONS (Tables)

v3.23.3
OPERATING LEASE OBLIGATIONS (Tables)
9 Months Ended
Sep. 30, 2023
OPERATING LEASE OBLIGATIONS  
Schedule of rent expense and quantitative information

The Company recorded lease expense as follows:

    

Three-Month Periods Ended

Nine-Month Periods Ended

September 30,

September 30,

($’s in thousands)

2023

    

2022

    

2023

    

2022

Operating lease cost

$

24

$

27

$

72

$

76

Variable lease cost

 

1

1

3

3

Total lease cost

$

25

$

28

$

75

$

79

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

    

Three-Month Periods Ended

Nine-Month Periods Ended

September 30,

September 30,

($’s in thousands)

    

2023

2022

2023

2022

Cash paid for amounts included in the measurement of lease liabilities

$

25

$

25

$

67

$

79

Weighted-average remaining lease term - operating leases

 

1.4

 

0.3

 

1.4

 

0.3

Weighted-average discount rate - operating leases

 

6.25

%

 

4.0

%

 

6.25

%

 

4.0

%

Schedule of operating lease liability

As of September 30, 2023, future minimum lease payments under lease agreements associated with the Company’s operations were as follows:

$’s in thousands

    

    

Remainder of 2023

$

33

2024

 

102

2025

 

9

Total lease payments

 

144

Less: present value discount

 

(13)

Total operating lease liabilities

$

131