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Leases

6 Months Ended

Jun. 30, 2022

NOTE 15: LEASES

We have entered into various non-cancelable operating lease agreements for certain of our offices and office equipment. Our leases have original lease periods expiring between 2021 and 2027. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease costs, lease term and discount rate are as follows:

(in thousands)	Six Months Ended June 30, 2022			Six Months Ended June 30, 2021
Finance lease cost
Amortization of right-of-use assets	$	-		$	4
Interest		-			-
Operating lease cost		256			179
Total lease cost	$	256		$	183

Weighted Average Remaining Lease Term
Operating leases		3.45 years			3.3 years

Weighted Average Discount Rate
Operating leases		10.0	%		10.0	%

The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2022:

(in thousands)	Operating Leases
The remainder of 2022	$	342
2023		756
2024		459
2025		456
Thereafter		198
Total undiscounted cash flows		2,211
Less imputed interest	$	(346	)
Present value of lease liabilities	$	1,865

Supplemental cash flow information related to leases are as follows:

(in thousands)	Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	256	$	176
Operating cash flows from finance leases		-		4
Financing cash flows from finance leases		-		(4	)