Quarterly report pursuant to Section 13 or 15(d)

Operating Lease (Tables)

v3.22.2.2
Operating Lease (Tables)
9 Months Ended
Sep. 30, 2022
Operating Lease  
Schedule of components of lease expense
       
    September 30,  
    2022  
       
Lease costs:        
Operating lease (included in general and administrative in the Company’s consolidated statement of operations)   $  
         
Other information:        
Cash paid for amounts included in the measurement of lease liabilities   $ 26,000  
         
Weighted average remaining lease term – operating leases (in years)     2.6  
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   $ 116,000  
         
Short-term operating lease liabilities     41,000  
Long-term operating lease liabilities     77,000  
Total operating lease liabilities   $ 118,000  
Schedule of lease maturities
       
Year ending December 31,   Amount  
2022 (remainder of year)   $ 11,000  
2023     45,000  
2024     46,000  
2025     19,000  
Total minimum lease payments     121,000  
Less: interest     (3,000 )
Present value of lease liabilities   $ 118,000