Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASE OBLIGATIONS (Tables)

v3.24.1.1.u2
OPERATING LEASE OBLIGATIONS (Tables)
3 Months Ended
Mar. 31, 2024
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)

2024

    

2023

Operating lease cost

$

24

$

24

Variable lease cost

 

1

1

Total lease cost

$

25

$

25

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

    

Three-Month Periods Ended

March 31,

($’s in thousands)

    

2024

2023

Cash paid for amounts included in the measurement of lease liabilities

$

25

$

17

Weighted-average remaining lease term - operating leases

 

0.8

 

1.8

Weighted-average discount rate - operating leases

 

6.25

%

 

6.25

%

Schedule of operating lease liability

As of March 31, 2024, future minimum lease payments under lease agreements associated with the Company’s operations were as follows:

$’s in thousands

    

    

Remainder of 2024

$

77

2025

 

9

Total lease payments

 

86

Less: present value discount

 

(2)

Total operating lease liabilities

$

84