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Leases | 9 Months Ended
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Sep. 30, 2023
Leases |
Leases | 4. Leases At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease based on facts and circumstances present in that arrangement. Lease classifications, recognition, and measurement are then determined at the lease commencement date. The Company’s operating lease right-of-use (“ROU”) assets and operating lease liabilities include primarily leases for office and warehouse spaces used to conduct our business. The Company’s operating leases also include the lease of a building with land utilized for our waste treatment operations which includes a purchase option. Finance leases consist primarily of processing and transport equipment used by our facilities’ operations. The components of lease cost for the Company’s leases for the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Schedule of Components of Lease Cost
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease cost |  | $ | 157 |  |  | $ | 157 |  |  | $ | 470 |  |  | $ | 471 |
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of ROU assets |  |  | 39 |  |  |  | 42 |  |  |  | 115 |  |  |  | 133 |
Interest on lease liability |  |  | 9 |  |  |  | 9 |  |  |  | 22 |  |  |  | 30 |
Finance lease |  |  | 48 |  |  |  | 51 |  |  |  | 137 |  |  |  | 163 |
Short-term lease rent expense |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 7 |
Total lease cost |  | $ | 205 |  |  | $ | 208 |  |  | $ | 608 |  |  | $ | 641 |
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at September 30, 2023 were: Schedule of Weighted Average Lease
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 5.7 |  |  |  | 3.2 |
Weighted average discount rate |  |  | 7.5 | % |  |  | 7.0 | %
The following table reconciles the undiscounted cash flows for the operating and finance leases at September 30, 2023 to the operating and finance lease liabilities recorded on the balance sheet (in thousands): Schedule of Operating And Finance Lease Liability Maturity
|  | Operating Leases |  |  | Finance Leases |
2023 (remaining) |  | $ | 147 |  |  | $ | 65 |
2024 |  |  | 519 |  |  |  | 260 |
2025 |  |  | 433 |  |  |  | 239 |
2026 |  |  | 415 |  |  |  | 85 |
2027 |  |  | 406 |  |  |  | 50 |
2028 and thereafter |  |  | 749 |  |  |  | 28 |
Total undiscounted lease payments |  |  | 2,669 |  |  |  | 727 |
Less: Imputed interest |  |  | (513 | ) |  |  | (81 | )
Present value of lease payments |  | $ | 2,156 |  |  | $ | 646 |
Current portion of operating lease obligations |  | $ | 412 |  |  | $ | - |
Long-term operating lease obligations, less current portion |  | $ | 1,744 |  |  | $ | - |
Current portion of finance lease obligations |  | $ | - |  |  | $ | 223 |
Long-term finance lease obligations, less current portion |  | $ | - |  |  | $ | 423 |
Supplemental cash flow and other information related to our leases were as follows for the three and nine months ended September 30, 2023 and 2022 (in thousands): Schedule of Supplemental Cash Flow And Other Information Related To Leases
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flow used in operating leases |  | $ | 145 |  |  | $ | 144 |  |  | $ | 435 |  |  | $ | 430 |
Operating cash flow used in finance leases |  | $ | 9 |  |  | $ | 9 |  |  | $ | 22 |  |  | $ | 30 |
Financing cash flow used in finance leases |  | $ | 54 |  |  | $ | 103 |  |  | $ | 135 |  |  | $ | 821 |
ROU assets obtained in exchange for lease obligations for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance liabilities |  | $ | 154 |  |  | $ | - |  |  | $ | 311 |  |  | $ | 147 |
Operating liabilities |  | $ | 484 |  |  |  | - |  |  | $ | 484 |  |  | $ | - |

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