Quarterly report pursuant to Section 13 or 15(d)

Lease Agreements (Tables)

v3.21.2
Lease Agreements (Tables)
6 Months Ended
Jun. 30, 2021
Lease Agreements  
Schedule of maturity of operating lease liabilities

The following table summarizes maturity of the Company’s operating lease liabilities as of June 30, 2021 (in thousands):

Operating

Undiscounted lease payments

    

Leases

2021 (excluding six months ended June 30, 2021)

$

98

2022

 

202

2023

 

34

Thereafter

 

Total undiscounted lease payments

 

334

Present value adjustment

 

(14)

Total net lease liabilities

 

$

320

Schedule of cost components of operating leases

The following table summarizes the cost components of the Company’s operating leases for the three and six months ended June 30, 2021 and 2020 (in thousands):

    

Three Months Ended June 30, 

    

Six Months Ended June 30, 

    

2021

2020

    

2021

    

2020

Lease costs:

Operating lease cost

$

44

$

44

 

$

88

 

$

88

Variable lease cost (1)

 

2

 

1

 

5

 

2

Total lease costs

$

46

$

45

 

$

93

$

90

(1) Under the terms of the lease agreements, the Company is also responsible for certain variable lease payments that are not included in the measurement of the lease liability. Variable lease payments include non-lease components such as common area maintenance fees.
Summary of supplemental cash flow information related to operating leases

The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands):

    

Six Months Ended June 30, 

    

2021

2020

Cash paid for amounts included in the measurement of lease liabilities

 

 

Operating cash flows under operating leases

$

98

$

94

Schedule of present value assumptions used in calculating the present value of lease payments

    

June 30, 

December 31, 

    

2021

2020

Weighted-average remaining lease term

Operating leases

1.67 years

2.17 years

Weighted-average discount rate

Operating leases

5.51

%

5.51

%