Annual report pursuant to Section 13 and 15(d)

Operating Lease (Tables)

v3.22.1
Operating Lease (Tables)
12 Months Ended
Dec. 31, 2021
Operating Lease  
Schedule of components of lease expense
       
    December 31,  
    2021  
       
Lease costs:        
Operating lease (included in general and administrative in the Company’s consolidated statement of operations)   $ 30,000  
         
Other information:        
Cash paid for amounts included in the measurement of lease liabilities   $ 21,000  
         
Weighted average remaining lease term – operating leases (in years)     3.4  
Average discount rate – operating leases     4%  
         
The supplemental balance sheet information related to leases for the period is as follows:        
Long-term right-of-use assets   $ 143,000  
         
Short-term operating lease liabilities   $ 38,000  
Long-term operating lease liabilities     106,000  
Total operating lease liabilities   $ 144,000  
Schedule of lease maturities
       
    Operating  
Year Ending December 31:   Lease  
2022   $ 43,000  
2023     45,000  
2024     46,000  
2025     19,000  
2026 and thereafter      
Total lease payments     153,000  
Less: Imputed interest/present value     (9,000 )
Present value of lease liabilities   $ 144,000