v3.23.1
Note 6 - Leases
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

6. Leases

 

Office Lease

 

On March 26, 2021, the Company entered into a Sublease Agreement to sublet space for its new corporate headquarters, located at 25821 Industrial Boulevard, Hayward, California. The Sublease Agreement commencement date was April 1, 2021. The Sublease Agreement is for a period of two years and three months, ending on June 30, 2023, with monthly rental payments of approximately $17,000, including one month of abated rent. On the lease commencement date, the Company recognized an operating lease right-of-use asset in the amount of $0.4 million. Lease expense was approximately $50,000 for the three months ended March 31, 2023 and the remaining lease commitment of approximately $50,000 will be incurred in the second quarter of 2023.