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:

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Three-Month Periods Ended

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​

March 31,

($’s in thousands)

​

2024

    

2023

Operating lease cost

​

$

24

​

$

24

Variable lease cost

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1

​

​

1

Total lease cost

​

$

25

​

$

25

​

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

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Three-Month Periods Ended

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March 31,

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($’s in thousands)

    

2024

​

​

2023

​

Cash paid for amounts included in the measurement of lease liabilities

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$

25

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​

$

17

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Weighted-average remaining lease term - operating leases

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0.8

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1.8

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Weighted-average discount rate - operating leases

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6.25

%

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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:

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$’s in thousands

    

    

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Remainder of 2024

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$

77

2025

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9

Total lease payments

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86

Less: present value discount

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(2)

Total operating lease liabilities

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$

84

​