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Note 7 - Leases

6 Months Ended

Jun. 30, 2022

Lessee, Operating and Finance Leases [Text Block]

NOTE 7. LEASES

The components of lease expense and cash flows from leases (in thousands) follow.

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Finance lease cost:
Amortization of right-of use assets, included in cost of goods sold	$	19	$	22	$	39	$	43
Interest on lease liabilities		3		3		5		6
Operating lease cost, included in selling, general and administrative expenses:
Fixed leases cost		129		128		258		257
Variable lease cost		40		37		86		75
Short-term lease cost		14		-		21		-
Total lease cost	$	205	$	190	$	409	$	381

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	3	$	3	$	5	$	6
Operating cash flows from operating leases	$	129	$	128	$	258	$	257
Financing cash flows from finance leases	$	22	$	24	$	46	$	50

As of June 30, 2022, variable lease payments do not depend on a rate or index. As of June 30, 2022, and December 31, 2021, property and equipment, net, includes $0.3 million and $0.2 million of finance lease right-of-use-assets, with an original cost of $0.5 million. During the three months and six months ended June 30, 2022, we financed the purchase of $0.1 million of property and equipment in noncash finance lease transactions. During the three months and six months ended June 30, 2021, we financed the purchase of less than $0.1 million of property and equipment in noncash finance lease transactions.

As of June 30, 2022, we do not believe it is certain that we will exercise any renewal options. The remaining terms of our leases and the discount rates used in the calculation of our lease liabilities as of June 30, 2022, follows.

	Operating Leases			Finance Leases
Remaining leases terms (in years)	1.3	-	10.7	0.3	-	4.9
Weighted average remaining lease terms (in years)			5.8			3.0
Discount rates	6.3%	-	9.0%	2.8%	-	9.0%
Weighted average discount rate			7.8%			5.9%

Maturities of lease liabilities as of June 30, 2022, follows (in thousands).

	Operating			Finance
	Leases			Leases
2022 (six months ended December 31, 2022)	$	244		$	74
2023		528			79
2024		429			38
2025		439			23
2026		451			20
Thereafter		578			5
Total lease payments		2,669			239
Amounts representing interest		(557	)		(44	)
Present value of lease obligations	$	2,112		$	195