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Note 14 - Leases | 6 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | 14. Leases The Company leases its Corvallis, Oregon, facilities and office space under an operating lease, which was signed on November 3, 2017 and commenced on January 1, 2018. The initial term of this lease was to expire on December 31, 2019 after which the Company had two successive renewal options; one for two years and the other for three years. In the second quarter of 2019, the Company exercised the first renewal option, which extended the lease expiration date to December 31, 2021. In the second quarter of 2021, the Company exercised the second renewal option, which extended the lease expiration date to December 31, 2024. In the second quarter of 2024, the Company entered into an additional addendum, which extended the lease expiration date to December 31, 2026. In connection with this additional addendum, the Company recorded an increase to operating lease right-of-use assets and operating lease liabilities of approximately $0.5 million in the second quarter of 2024. On May 26, 2017, the Company and M&F entered into the New HQ Lease, a ten-year office lease agreement, pursuant to which the Company agreed to lease 3,200 square feet in New York, New York. The Company is utilizing premises leased under the New HQ Lease as its corporate headquarters. The Company has no leases that qualify as finance leases. Operating lease costs totaled $0.2 million and $0.1 million for the three months ended June 30, 2024 and 2023, respectively. Operating lease costs totaled $0.3 million for each of the six months ended June 30, 2024 and 2023. Cash paid for amounts included in the measurement of lease liabilities from operating cash flows was $0.2 million for each of the three months ended June 30, 2024 and 2023. Cash paid for amounts included in the measurement of lease liabilities from operating cash flows was $0.3 million for each of the six months ended June 30, 2024 and 2023. As of June 30, 2024, the weighted-average remaining lease term of the Company’s operating leases was 2.72 years while the weighted-average discount rate was 9.95%. Future cash flows under operating leases as of June 30, 2024 are expected to be as follows:
2024 |  | $ | 283,868 |
2025 |  |  | 683,213 |
2026 |  |  | 686,190 |
2027 |  |  | 165,916 |
Total undiscounted cash flows under leases |  |  | 1,819,187 |
Less: Imputed interest |  |  | (171,156 | )
Present value of lease liabilities |  | $ | 1,648,031 |
As of June 30, 2024, approximately $1.1 million of the lease liability is included in Other liabilities on the condensed consolidated balance sheet with the current portion included in accrued expenses.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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