Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases  
Schedule of Lease Related Assets and Liabilities

The table below presents the lease related assets and liabilities recorded on the Consolidated Balance Sheets as of December 31, 2021 and 2020:

Schedule of Lease Related Assets and Liabilities 

    Classification on the   December 31,     December 31,  
Balance Sheet Line   Balance Sheet   2021     2020  
        (in thousands)  
Assets                    
Operating lease assets   Operating lease right of use assets   $ 20     $ 45  
    Total lease assets   $ 20     $ 45  
                     
Liabilities                    
Current liabilities:                    
Operating lease liabilities   Current operating lease liabilities   $ 20     $ 25  
Noncurrent liabilities:                    
Operating lease liabilities   Long-term operating lease liabilities   $     $ 20  
    Total lease liabilities   $ 20     $ 45  
Schedule of Operating Lease Cost

The table below presents the lease related costs recorded on the Consolidated Statement of Operation and Comprehensive Income for the years ended December 31, 2021 and 2020:

 Schedule of Operating Lease Cost

        Years Ended December 31,  
Lease cost   Classification   2021     2020  
    (in thousands)  
Operating lease cost   General and administrative expenses   $ 27     $ 23  
    Total lease cost   $ 27     $ 23  
Schedule of Cash Flow Information Related to Leases

The table below presents supplemental cash flow information related to leases for the years ended December 31, 2021 and 2020:

Schedule of Cash Flow Information Related to Leases 

             
    Years Ended December 31,  
    2021     2020  
    (in thousands)  
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows for operating leases   $ 27     $ 20  
Supplemental non-cash amounts of lease liabilities arising from obtaining right-of-use assets/(decrease) of lease liability due to cancellation of leases   $ 1     $ 13  
Schedule of Weighted Average Remaining Lease Terms and Weighted Average Discount Rates

The table below presents certain information related to the weighted average remaining lease terms and weighted average discount rates for our operating leases as of December 31, 2021:

 Schedule of Weighted Average Remaining Lease Terms and Weighted Average Discount Rates

    December 31,     December 31,  
    2021     2020  
Weighted average remaining lease term - operating leases     0.75 years       1.75 years  
Weighted average discount rate - operating leases     12.00 %     12.00 %
Schedule of Operating Lease Liabilities

The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded on the Consolidated Balance Sheet as of December 31, 2021:

Schedule of Operating Lease Liabilities 

       
Amounts due in   Operating Leases  
      (in thousands)  
2022   $ 20  
2023      
2024      
Total minimum lease payments     20  
Less: effect of discounting     0  
Present value of future minimum lease payments     20  
Less: current obligations under leases     (20 )
Long-term lease obligations   $