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Note 10 - Leases

9 Months Ended

Sep. 30, 2021

Lessee, Operating and Finance Leases [Text Block]

10. Leases

The Company currently maintains one finance lease for equipment and three operating leases for real estate. The finance lease is immaterial to the Company's condensed consolidated financial statements. The operating leases have original terms of 76, 42 and 37 months and include one or more options to extend the duration of the agreements. These operating leases are included in "Other assets" on the Company's condensed consolidated balance sheets and represent the Company's right to use the underlying assets for the term of the leases. The Company's obligation to make lease payments are included in "Lease liability, current portion" and "Lease liability, non-current portion" on the Company's condensed consolidated balance sheets. The Company recognized sublease income of approximately $127,000 and $382,000 for the three and nine months ended September 30, 2021. The Company recognized sublease income of approximately $108,000 and $324,000 for the three and nine months ended September 30, 2020.

Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, as of September 30, 2021, total right-of-use assets were approximately $0.68 million and operating lease liabilities were approximately $0.75 million. As of September 30, 2020, the Company's total right-of-use assets were approximately $0.84 million and operating lease liabilities were approximately $0.98 million.

Information related to the Company's right-of-use assets and related lease liabilities were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Cash paid for operating lease liabilities	$	167	$	162	$	494	$	480
Operating lease cost	$	155	$	144	$	444	$	433

	September 30, 2021
Weighted-average remaining lease term (in years)		2.0
Weighted-average discount rate		7.83	%

Future maturities of lease liabilities as of September 30, 2021 are as follows (in thousands):

Due in 12-month period ended September 30,
2022	$	524
2023	$	133
2024	$	135
Less imputed interest	$	(44	)
Total lease liabilities	$	748

Current operating lease liabilities	$	495
Non-current operating lease liabilities	$	253
	$	748

Note: Excludes a finance lease with a current liability of $6 and a non-current liability of $16.