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Leases | 9 Months Ended
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Sep. 30, 2022
Leases |
Leases |
4. | Leases
The Company’s real estate lease for the use of office space was subleased during the year ended December 31, 2021 (as further described below). The Company’s current lease is a long-term operating lease with a remaining fixed payment term of 2.01 years. The table below presents supplemental information related to operating leases: Schedule of Supplemental Information Related to Operating Leases
|  | Nine Months Ended |  |  | Year Ended |
|  | September 30, 2022 |  |  | December 31, 2021 |
Operating lease costs during the period (1) |  | $ | 727 |  |  | $ | 2,718 |
Cash payments included in the measurement of operating lease liabilities during the period |  | $ | 351 |  |  | $ | 2,787 |
Weighted-average remaining lease term (in years) as of period-end |  |  | 2.01 |  |  |  | 2.75 |
Weighted-average discount rate during the period |  |  | 9.90 | % |  |  | 9.90 | %
(1) |  | Operating lease costs is presented net of sublease income that is not material.
The Company generally utilizes its incremental borrowing rate based on information available at the commencement of the lease in determining the present value of future payments since the implicit rate for the Company’s leases is not readily determinable. Variable lease expense includes rental increases that are not fixed, such as those based on amounts paid to the lessor based on cost or consumption, including maintenance and utilities. The components of operating lease costs were as follows: Schedule of Operating Lease Costs
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Operating lease costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | - |  |  | $ | 630 |  |  | $ | - |  |  | $ | 1,261 |
Selling and marketing |  |  | - |  |  |  | 181 |  |  |  | - |  |  |  | 362 |
General and administrative |  |  | 328 |  |  |  | 148 |  |  |  | 891 |  |  |  | 297 |
Total operating lease costs (1) |  |  | 328 |  |  |  | 959 |  |  |  | 891 |  |  |  | 1,920 |
Sublease income |  |  | (55 | ) |  |  | - |  |  |  | (164 | ) |  |  | - |
Total |  | $ | 273 |  |  | $ | 959 |  |  | $ | 727 |  |  | $ | 1,920 |
(1) |  | Includes certain costs associated with a business membership agreement (see below) that permits access to certain office space for the three and nine months ended September 30, 2022 of $170 and $510, respectively, and month-to-month lease arrangements for the three and nine months ended September 30, 2022 of $95 and $191, respectively.
Maturities of the operating lease liability as of September 30, 2022 are summarized as follows: Summary of Maturity of Lease Liabilities
Years Ending December 31, |  |  |  |
2022 (remaining three months of the year) |  | $ | 120 |
2023 |  |  | 486 |
2024 |  |  | 373 |
Minimum lease payments |  |  | 979 |
Less imputed interest |  |  | (95 | )
Present value of operating lease liability |  | $ | 884 |
Current portion of operating lease liability |  | $ | 413 |
Long-term portion of operating lease liability |  |  | 471 |
Total operating lease liability |  | $ | 884 |
Sublease Agreement – In November 2021, the Company entered into an agreement to sublease its leased office space for the duration of its operating lease through September 2024. As of September 30, 2022, the Company is entitled to receive total sublease income of $537. Business Membership – Effective October 1, 2021, the Company entered into a business membership agreement with York Factory LLC, doing business as SaksWorks, that permits access to certain office space with furnishings, referred to as SaksWorks Memberships (each membership provides a certain number of accounts that equate to the use of the space granted). The term of the agreement was for 27 months, with 15 months remaining at $57 per month for 110 accounts.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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