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LEASES (Tables)
 3 Months Ended
Mar. 31, 2022
Leases  
SCHEDULE OF CONSOLIDATED BALANCE SHEET

 

  

March 31,

2022

   December 31,
2021		 
   (in thousands) 
Right of use asset balance          
Operating lease  $95   $120 
Lease liability balance          
Short-term operating lease  $104   $114 
Long-term operating lease   2    19 
Total operating leases   $106   $133 
SCHEDULE OF LEASE COSTS

 

   2022   2021 
   Three Months ended March 31, 
   2022   2021 
   (in thousands) 
Operating lease cost  $31    24 
Short-term lease cost   2    4 
           
Sublease income   (16)   (16)
Total lease costs  $17   $12 
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, 
   2022   2021 
   (in thousands) 
Weighted average lease term (years)   0.9    1.9 
Weighted average discount rate   9.26%   9.26%
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS

 

   Amount 
Remainder of 2022  $92 
2023   18 
Total lease payments   110 
Less: imputed interest   (4)
Total lease liability  $106