LEASES

6 Months Ended

Jun. 30, 2022

The Company’s leases are primarily for office space, the largest being an office building lease for the Company’s Lakewood, Colorado corporate offices. As of June 30, 2022, this lease has a remaining term of approximately 11 months and includes an option to extend the lease for one five-year term. Certain of our other leases include variable payments for lessor operating expenses that are not included within right-of-use (“ROU”) assets and lease liabilities in the Condensed Consolidated Balance Sheets. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants.

The Company’s operating lease expense is recognized on a straight-line basis over the lease term and is recorded in General and Administration expenses. Short-term leases, which have an initial term of 12 months or less, are not recorded in the Condensed Consolidated Balance Sheets.

Total lease cost includes the following components:


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Operating leases	$	77	$	77	$	154	$	154
Short-term leases	79		81		159		162

Total lease expense	$	156	$	158	$	313	$	316

The weighted average remaining lease term and weighted average discount rate were as follows:


	Six months ended June 30,
	2022		2021
Weighted average remaining lease term of operating leases	0.9 years		1.9 years
Weighted average discount rate of operating leases	9.0	%	9.0	%

Supplemental cash flow information related to leases was as follows:


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Operating cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$	87	$	85	$	174	$	170