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Note 10 - Leases | 6 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | Note 10 — Leases The Company recognizes a right-of-use (“ROU”) asset and a lease liability on the balance sheet for substantially all leases, including operating leases, and separates lease components from non-lease components related to its office space lease. In June 2024, the Company renewed its office lease for a two-year period through March 2027 and recorded $219 in ROU assets and $219 in operating lease liabilities in association with the lease extension. The Company’s operating lease cost as presented as G&A in the condensed statements of operations was $39 for the six months ended June 30, 2024, and $46 for the six months ended June 30, 2023. Cash paid for amounts included in the measurement of operating lease liabilities was $13 for the six months ended June 30, 2024, and $37 for the six months ended June 30, 2023. The ROU asset non-cash lease expense was $36 and $39 for the six-month periods ended June 30, 2024 and 2023, respectively, and is reflected within non-cash lease expense on the Company’s condensed statements of cash flows. As of June 30, 2024, the weighted-average remaining lease term was 2.75 years, and the weighted-average incremental borrowing rate was 8.6%. The table below presents the lease-related assets and liabilities recorded on the balance sheet as of June 30, 2024 (in thousands).
Assets | Classification |  |  |  |
Operating lease right-of-use assets | Operating lease right-of-use assets, net |  | $ | 210 |
Total leased assets |  |  | $ | 210 |
Liabilities |  |  |  |  |
Operating lease liabilities, current | Accrued liabilities |  | $ | 74 |
Operating lease liabilities, noncurrent | Operating lease liabilities, net of current portion |  | $ | 145 |
Total operating lease liabilities |  |  | $ | 219 |
The Company’s future lease commitments as of June 30, 2024, are as indicated below:
|  | Operating Lease Liabilities |
2024 (remainder of 2024) |  |  | 45 |
2025 |  |  | 89 |
2026 |  |  | 90 |
2027 |  |  | 23 |
Undiscounted lease payments |  |  | 247 |
Less: Imputed interest |  |  | (28 | )
Total operating lease liabilities |  | $ | 219 |

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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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