Quarterly report pursuant to Section 13 or 15(d)

Lease Agreements (Tables)

v3.23.1
Lease Agreements (Tables)
3 Months Ended
Mar. 31, 2023
Lease Agreements  
Schedule of cost components of operating leases

The following table summarizes the cost components of the Company’s operating lease for the three months ended March 31, 2023 and 2022 (in thousands):

    

Three Months Ended March 31, 

    

2023

    

2022

Lease costs:

Operating lease cost

$

48

 

$

44

Variable lease cost (1)

5

 

3

Total lease costs

$

53

$

47

(1)Under the terms of the lease agreement, 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):

    

Three Months Ended March 31, 

    

2023

2022

Cash paid for amounts included in the measurement of lease liabilities

 

 

Operating cash flows under operating leases

$

52

$

50

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

    

March 31, 

December 31, 

    

2023

2022

Weighted-average remaining lease term

0.33 years

0.17 years

(1)

Weighted-average discount rate

5.51

%

5.51

%

(1)Prior to the extension of the end of the lease term from February 28, 2023 to July 31, 2023