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LEASES (Tables)
 9 Months Ended
Sep. 30, 2022
Leases  
SCHEDULE OF CONSOLIDATED BALANCE SHEET

 

  

September 30,

2022

   December 31,
2021		 
   (in thousands) 
Right of use asset balance          
Operating lease  $933   $120 
Lease liability balance          
Short-term operating lease  $182   $114 
Long-term operating lease   837    19 
 Total operating leases  $1,019   $133 
SCHEDULE OF LEASE COSTS

 

   2022   2021   2022   2021 
   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
   2022   2021   2022   2021 
   (in thousands) 
Operating lease cost  $77   $31   $177   $95 
Short-term lease cost   2    2    6    7 
Sublease income   (21)   (16)   (54)   (48)
Total lease costs  $58   $17   $129   $54 
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, 
   2022   2021 
   (in thousands) 
Weighted average lease term (years)   5.0    1.4 
Weighted average discount rate   4.47%   9.26%
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS

 

   Amount 
Remainder of 2022  $47 
2023   225 
2024   213 
2025   218 
2026   224 
2027   210 
Total lease payments   1,137 
Less: imputed interest   (118)
Total lease liability  $1,019