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Note 12 - Leases

6 Months Ended

Jun. 30, 2023

Leases of Lessee and Lessor Disclosure [Text Block]

NOTE 12 LEASES

The Company has operating leases for office space that include fixed base rent payments, as well as variable rent payments to reimburse the landlord for operating expenses and taxes. The Company’s variable lease payments do not depend on a published index or rate, and therefore, are expensed as incurred. The Company includes only fixed payments for lease components in the measurement of the right-of-use asset and lease liability. There are no residual value guarantees.

Operating lease costs and variable lease costs included in general and administrative expenses for the three months ended June 30, 2023 were $0.1 million and less than $0.1 million, respectively ($0.2 million and $0.1 million, respectively, for the six months ended June 30, 2023). Operating lease costs and variable lease costs included in general and administrative expenses for the three months ended June 30, 2022 were $0.2 million and less than $0.1 million, respectively ($0.5 million and $0.1 million, respectively, for the six months ended June 30, 2022). Short-term lease costs included in general and administrative expenses for the three months ended June 30, 2023 and June 30, 2022 were less than $0.1 million and zero, respectively ($0.1 million and zero million for the six months ended June 30, 2023 and June 30, 2022, respectively).

The annual maturities of lease liabilities as of June 30, 2023 were as follows:

(in thousands)	Lease Commitments
2023	$	233
2024		442
2025		283
2026		220
2027		162
2028 and thereafter		79
Total undiscounted lease payments		1,419
Imputed interest		159
Total lease liabilities	$	1,260

The weighted-average remaining lease term for our operating leases was 3.81 years as of June 30, 2023. The weighted average discount rate of our operating leases was 5.94% as of June 30, 2023. Cash paid for amounts included in the measurement of lease liabilities was $0.2 million and $0.5 million for the six months ended June 30, 2023 and June 30, 2022, respectively.