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Leases (Tables)
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Consolidated Balance Sheet

The Company’s right-of-use assets and lease liabilities are recognized at their discounted present value under the following captions in the consolidated balance sheets at March 31, 2021 and December 31, 2020:

 

    March 31, 2021     December 31, 2020  
    (in thousands)  
Right of use asset balance                
Operating lease   $ 190     $ 127  
Lease liability balance                
Short-term operating lease   $ 101     $ 65  
Long-term operating lease     110       78  
    $ 211     $ 143  
Schedule of Lease Costs

Following are the amounts recognized as components of rental expense for the three months ended March 31, 2021 and 2020:

 

    Three months ended March 31,  
    2020     2020  
    (in thousands)  
Operating lease cost   $ 24       17  
Short-term lease cost     4       4  
                 
Sublease income     (16 )     (5 )
Total lease costs   $ 12     $ 16  
Schedule of Weighted Average Lease

The Company’s Denver and Houston office operating leases do not contain implicit interest rates that can be readily determined; therefore, the Company used the incremental borrowing rates in effect at the time the Company entered into the leases.

 

    As of March 31,  
    2021     2020  
    (in thousands)  
Weighted average lease term (years)     1.9       2.8  
Weighted average discount rate     9.26 %     8.75 %
Schedule of Future Minimum Lease Commitments

The future minimum lease commitments as of March 31, 2021 are presented in the table below in thousands. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value on the consolidated balance sheet as follows:

 

    Amount  
Remainder of 2021   $ 90  
2022     122  
2023     17  
Total lease payments     229  
Less: imputed interest     (18 )
Total lease liability   $ 211  
Schedule of Operating Leases

The net capitalized cost of the building and the land subject to operating leases at March 31, 2021 and December 31, 2020 are as follows:

 

    March 31, 2021     December 31, 2020  
    (in thousands)  
Building subject to operating leases   $ 4,654     $ 4,654  
Land     380       380  
Less: accumulated depreciation     (3,599 )     (3,599 )
Loss on leased real estate held for sale     (651 )     (651 )
Building subject to operating leases, net   $ 725     $ 725  
Schedule of Future Lease Maturities

The future lease maturities of the Company’s operating leases as of March 31, 2021 are presented in the table below. Such maturities are reflected at undiscounted values to be received on an annual basis.

 

    Amount  
    (in thousands)  
Remainer of 2021   $ 122  
2022     165  
2023     169  
2024     163  
Remaining through June 2029     695  
Total lease maturities   $ 1,314  
Schedule of Loss on Rental Property

The Company recognized, as a component of rental and other loss in the unaudited condensed consolidated statements of operations, the following operating lease income and expense related to its Riverton, Wyoming office building for the three months ended March 31, 2021 and 2020:

 

    Three months ended March 31,  
    2021     2020  
    (in thousands)  
Operating lease income   $ 51     $ 56  
Operating lease expense     (34 )     (44 )
Depreciation     -       (29 )
Rental property gain (loss), net   $ 17     $ (17 )