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Leases | 6 Months Ended
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Jun. 30, 2022
Leases [Abstract] |
Leases | Note 1 7 Leases In November 2018, the Company entered into a sublease agreement with PCJW Properties LLC (“PCJW”), controlled by Company’s founders (including the Company’s current CEO), for general office space next to the aforementioned leased property in Los Angeles, California. The lease term is five years subject to early termination by either party. Under the terms of the sublease, monthly rent is approximately $0.006 million, subject to an annual escalation of 4%. In January 2019, the Company entered into a lease agreement with PCJW for office space located in Los Angeles, California. The lease term is seven years, beginning January 1, 2019 and ending December 31, 2025. Monthly rent is approximately $0.02 million, subject to an annual escalation of 5%. In May 2020, the Company entered into a sublease with Whalerock for general office space in West Hollywood, California. Under the terms of the sublease, the lease term is approximately 18 months and the monthly rent is approximately $0.14 million. The Company began utilizing the office space in June 2021. All leases were classified as operating and operating lease expenses are presented within other general and administrative expenses in the condensed consolidated statements of operations. The Company does not have any finance leases or sublease arrangements where the Company is the sublessor. The Company’s leasing activities are as follows (dollars in thousands) :
|  | For the Six Months Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
Operating lease cost |  | $ | 1,006 |  |  | $ | 343 |
Short-term lease cost |  |  | 8 |  |  |  | — |
Variable lease cost |  |  | — |  |  |  | — |
Total lease cost |  | $ | 1,014 |  |  | $ | 343 |
|  | For the Six Months Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
Other information: |  |  |  |  |  |  |  |
Cash paid for operating leases |  | $ | 1,061 |  |  | $ | 281 |
Right-of-use assets obtained in exchange for new operating lease liability |  | $ | — |  |  | $ | — |
Weighted-average remaining lease term - operating lease |  |  | 1.91 |  |  |  | 2.38 |
Weighted-average discount rate - operating lease |  |  | 10 | % |  |  | 10 | %
The future minimum lease payments as of June 30, 2022, were as follows (in thousands):
Year |  | Third-Party Commitment |  |  | Related-Party Commitment |  |  | Total |
2022 (remaining) |  | $ | 885 |  |  | $ | 168 |  |  | $ | 1,053 |
2023 |  |  | 148 |  |  |  | 339 |  |  |  | 487 |
2024 |  |  | — |  |  |  | 295 |  |  |  | 295 |
2025 |  |  | — |  |  |  | 309 |  |  |  | 309 |
Thereafter |  |  | — |  |  |  | — |  |  |  | — |
Total minimum lease payments |  | $ | 1,033 |  |  | $ | 1,111 |  |  | $ | 2,144 |
Less: imputed interest |  |  | (25 | ) |  |  | (165 | ) |  |  | (190 | )
Total lease liabilities |  | $ | 1,008 |  |  | $ | 946 |  |  | $ | 1,954 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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