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RIGHT-OF USE ASSETS AND LEASE LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2022
Lessee Disclosure [Abstract]  
Schedule of Lease Costs Operating and finance lease cost for the three and six months ended June 30, 2022 were as follows:
(in 000’ USD)Classification in
Statement of operations
For the three months ended June 30, 2022For the six months ended June 30, 2022
Operating lease costSelling, general and administrative$874 $1,718 
Finance lease cost
Amortization of leased assetsDepreciation and amortization98 98 
Interest on lease liabilitiesInterest expense
Total net lease cost$977 $1,821 
Schedule of Finance Lease Supplemental Balance Sheet Disclosures
Supplemental disclosure for the balance sheet related to finance leases were as follows:
(in 000’ USD)At June 30, 2022
Assets
Finance lease right-of-use assets included in property and equipment, net$305 
Liabilities
Current portion of finance lease liabilities included in accrued liabilities$123 
Non-current portion of finance lease liabilities included in other long-term liabilities 182
Total finance lease liabilities$305 
The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows:
At June 30, 2022
Weighted average remaining lease term (in years)
Operating leases6.5
Finance leases0.63
Weighted average discount rate:
Operating leases7.2 %
Finance leases1.2 %
Schedule of Future Minimum Payments Under Operating Leases
The future minimum lease payments under operating and finance leases at June 30, 2022 for the next five years are as follows:
Operating
Leases
Finance
Leases
(in ‘000 USD)Amount Amount
From July 1, 2022 to December 31, 2022$1,002 $67 
20232,107 132 
20241,466 110 
20251,307 24 
20261,038 — 
Thereafter4,236  
Total minimum lease payments11,156 333 
Interest expense(2,540)(28)
Total$8,616 $305 
Schedule of Future Minimum Payments Under Finance Leases
The future minimum lease payments under operating and finance leases at June 30, 2022 for the next five years are as follows:
Operating
Leases
Finance
Leases
(in ‘000 USD)Amount Amount
From July 1, 2022 to December 31, 2022$1,002 $67 
20232,107 132 
20241,466 110 
20251,307 24 
20261,038 — 
Thereafter4,236  
Total minimum lease payments11,156 333 
Interest expense(2,540)(28)
Total$8,616 $305