XML 37 R27.htm IDEA: XBRL DOCUMENT v3.21.2
LEASES (Tables)
 9 Months Ended
Sep. 30, 2021
Leases  
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

                             
   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.

 

   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:

 

   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

 

      
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:

 

                             
   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)