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Leases | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Leases | NOTE 8. LEASES The Company has been subleasing space in Indiana since March 1, 2020. The Company executed a new sublease for this space that was effective on February 1, 2021 and expires on August 30, 2023. The sublease does not provide the Company with any renewal options. The Company allows others to sublease a portion of the space from the Company for less than a one-year period. On September 28, 2022, the Company entered into a lease for office space in Charlottesville, Virginia with a lease term of fifteen months beginning October 1, 2022. There is no automatic renewal, but any holdover tenancy shall be on a month-to-month basis thereafter. The following table summarizes quantitative information about the Company’s operating leases for the period indicated (in thousands):
|  | Three Months Ended September 30, 2022 |  |  | Nine Months Ended September 30, 2022 |
Operating leases |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 38 |  |  | $ | 114 |
Less: sublease income |  |  | (12 | ) |  |  | (44 | )
Operating lease expense |  |  | 26 |  |  |  | 70 |
Short-term lease rent expense |  |  | 1 |  |  |  | 11 |
Total rent expense |  | $ | 27 |  |  | $ | 81 |
Supplemental information related to the Indiana lease was as follows (dollar amounts in thousands):
|  | Nine Months Ended September 30, 2022 |
Operating cash flows from operating leases |  | $ | 114 |
Right-of-use assets obtained in exchange for operating lease liabilities |  | $ | 233 |
Weighted-average remaining lease term – operating leases (in years) |  |  | 0.9 |
Weighted-average discount rate – operating leases |  |  | 10.0 | %
As of September 30, 2022, the present value of maturities of the Company’s operating lease liabilities were as follows (in thousands):
Remaining period ended December 31, 2022 |  | $ | 39 |
Year ended December 31, 2023 |  |  | 102 |
Total |  |  | 141 |
Less: present value discount |  |  | (8 | )
Operating lease liabilities |  | $ | 133 |
The Company recognizes sublease income in other income (expense) on its condensed statements of operations and comprehensive loss. The Company expects to recognize approximately $3,000 in sublease income for the remainder of 2022. Prior to the adoption of ASC 842, and for the three and nine months ended September 30, 2021, the Company recognized rent expense on a straight-line basis over the lease period and recorded deferred rent expense for rent expense incurred but not yet paid. During the three and nine months ended September 30, 2021, the Company recognized total rent expense of approximately $40,000 and $107,000, respectively, and recognized sublease income of approximately $19,000 and $47,000, respectively. Disclosures related to periods prior to adoption of ASC 842 included approximate future minimum rental payments due under the Company’s leases as of December 31, 2021 as follows (in thousands):
Year ended December 31, 2022 |  | $ | 153 |
Year ended December 31, 2023 |  |  | 102 |
Total |  | $ | 255 |

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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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