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Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies.

Commitments and Contingencies

6. Commitments and Contingencies

Operating Leases

Amounts reported in the consolidated balance sheets for leases where the Company is the lessee as of June 30, 2023 were as follows, in thousands:

​

​	​	​	​
​		As of
​	​	June 30, 2023
Assets	​		​
Operating lease assets	​	$	736
Total operating lease assets	​	$	736
Liabilities	​	​	​
Current	​	​	​
Operating lease liabilities	​	$	166
Noncurrent	​	​	​
Operating lease liabilities, net of current	​	​	608
Total operating lease liabilities	​	$	774

​

Operating lease costs for the three and six months ended June 30, 2023 was $54 and $108, respectively, as compared to operating lease costs for the three and six months ended June 30, 2022 of $49 and $99, respectively.

The maturities of the operating lease liabilities and minimum lease payments as of June 30, 2023 were as follows:

​

​	​	​	​
For the Years Ended December 31,		Operating Leases
2023 (remaining)	​	$	110
2024	​		221
2025	​		222
2026	​	​	154
2027	​	​	87
Thereafter	​	​	126
Total undiscounted lease payments	​	$	920
Less: Imputed interest	​	​	(146)
Present value of operating lease liabilities	​	$	774

​

The following table summarizes the lease term and discount rate as of June 30, 2023:

​	​
​	As of
​	June 30, 2023
Weighted-average remaining lease term (years)	​
Operating leases	4.5
Weighted-average discount rate	​
Operating leases	8.1%

​

The following table summarizes the supplemental cash flow information related to the Company’s operating leases:

​	​	​	​	​	​	​
​	​	Six Months Ended June 30,
(In Thousands)	​	2023		​	2022
Operating cash flows used for operating leases	​	$	99	​	$	73

​

Litigation and Contingencies

From time to time, the Company may be involved in disputes or regulatory inquiries that arise in the ordinary course of business. When the Company determines that a loss is both probable and reasonably estimable, a liability is recorded and disclosed if the amount is material to the financial statements taken as a whole. When a material loss contingency is only reasonably possible, the Company does not record a liability but instead discloses the nature and the amount of the claim and an estimate of the loss or range of loss, if such an estimate can reasonably be made.

As of June 30, 2023 and December 31, 2022, there was no litigation or contingency with at least a reasonable possibility of a material loss.

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- References

No definition available.

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- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-URI https://asc.fasb.org/topic&trid=2144648

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 954
-SubTopic 440
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6491277&loc=d3e6429-115629

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-URI https://asc.fasb.org/topic&trid=2127136

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308

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