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LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Leases  
SCHEDULE OF CONSOLIDATED BALANCE SHEET

 

   2021   2020 
   December 31, 
   2021   2020 
   (in thousands) 
Right of use asset balance        
Operating lease  $120   $127 
Lease liability          
Short-term operating lease   114    65 
Long-term operating lease   19    78 
Total operating leases   $133   $143 
SCHEDULE OF LEASE COSTS

 

   2021   2020 
   December 31, 
   2021   2020 
   (in thousands) 
Operating lease cost  $125    74 
Short-term lease cost   9    22 
Sublease income   (64)   (41)
Total lease costs  $70   $55 
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 December 31, 
   2021   2020 
     
Weighted average lease term (years)   1.1    2.1 
Weighted average discount rate   9.26%   8.75%
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS

 

   December 31, 2021 
   (in thousands) 
2022   122 
2023   18 
Total lease payments  $140 
Less: imputed interest   (7)
Total lease liability  $133 
SCHEDULE OF LOSS ON RENTAL PROPERTY

The Company recognized, as a component of rental property income (loss), the following operating lease income and expenses related to its Riverton, Wyoming office building for the years ended December 31, 2021 and 2020:

 

   2021   2020 
   Year Ended
December 31,		 
   2021   2020 
   (in thousands) 
Operating lease income  $131   $213 
Operating lease expense   (123)   (181)
Depreciation   -    (59)
Rental property income (loss), net  $8   $(27)