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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases |
SCHEDULE OF CONSOLIDATED BALANCE SHEET | SCHEDULE OF CONSOLIDATED BALANCE SHEET
|  | September 30, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
Right of use asset balance |  |  |  |  |  |  |  |
Operating lease |  | $ | 143 |  |  | $ | 127 |
Lease liability balance |  |  |  |  |  |  |  |
Short-term operating lease |  | $ | 110 |  |  | $ | 65 |
Long-term operating lease |  |  | 49 |  |  |  | 78 |
Total operating leases |  | $ | 159 |  |  | $ | 143 |
SCHEDULE OF LEASE COSTS | SCHEDULE OF LEASE COSTS
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Operating lease cost |  | $ | 31 |  |  | $ | 17 |  |  | $ | 95 |  |  | $ | 51 |
Short-term lease cost |  |  | 2 |  |  |  | 6 |  |  |  | 7 |  |  |  | 16 |
Sublease income |  |  | (16 | ) |  |  | (10 | ) |  |  | (48 | ) |  |  | (25 | )
Total lease costs |  | $ | 17 |  |  | $ | 13 |  |  | $ | 54 |  |  | $ | 42 |
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. SCHEDULE OF WEIGHTED AVERAGE LEASE
|  | As of September 30, |
|  | 2021 |  |  | 2020 |
Weighted average lease term (years) |  |  | 1.4 |  |  |  | 2.3 |
Weighted average discount rate |  |  | 9.26 | % |  |  | 8.75 | %
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS | The future minimum lease commitments as of September 30, 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: SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS
|  | Amount |
Remainder of 2021 |  | $ | 30 |
2022 |  |  | 122 |
2023 |  |  | 18 |
Total lease payments |  |  | 170 |
Less: imputed interest |  |  | (11 | )
Total lease liability |  | $ | 159 |
SCHEDULE OF PROPERTY SUBJECT TO OPERATING LEASES | SCHEDULE OF PROPERTY SUBJECT TO OPERATING LEASES
Building subject to operating leases |  | $ | 4,654 |
Land |  |  | 380 |
Less: accumulated depreciation |  |  | (3,658 | )
Loss on leased real estate held for sale |  |  | (651 | )
Building subject to operating leases, net |  | $ | 725 |
SCHEDULE OF LOSS ON RENTAL PROPERTY | The Company recognized, as a component of rental property (loss) gain, net 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 and nine months ended September 30, 2021 and 2020: SCHEDULE OF LOSS ON RENTAL PROPERTY
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Operating lease income |  | $ | 29 |  |  | $ | 51 |  |  | $ | 131 |  |  | $ | 161 |
Operating lease expense |  |  | (44 | ) |  |  | (56 | ) |  |  | (123 | ) |  |  | (143 | )
Depreciation |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (58 | )
Rental property (loss) gain, net |  | $ | (15 | ) |  | $ | (5 | ) |  | $ | 8 |  |  | $ | (40 | )

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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