Note 8 - Leases

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Lessee, Operating and Finance Leases [Text Block]

NOTE 8. LEASES

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

	2023		2022
Finance lease cost:
Amortization of right-of use assets, included in cost of goods sold	$	145	$	97
Interest on lease liabilities		52		21
Operating lease cost, included in selling, general and administrative expenses:
Fixed lease cost		80		515
Variable lease cost		61		168
Short-term lease cost		188		85
Total lease cost	$	526	$	886
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	52	$	21
Operating cash flows from operating leases	$	80	$	515
Financing cash flows from finance leases	$	150	$	104

As of December 31, 2023, we do not believe it is certain that we will exercise any lease renewal options. The remaining terms of our leases and the discount rates used in the calculation of the fair value of our leases as of December 31, 2023, follows.

	Finance Leases
Remaining leases terms (in years)		0.2	-	4.1
Weighted average remaining lease terms (in years)			3.7
Discount rates		2.8%	-	11.6%
Weighted average discount rate			9.6%

Maturities of lease liabilities as of December 31, 2023, follows (in thousands).

	Finance
	Leases
2024	$	178
2025		167
2026		165
2027		126
2028		4
Total lease payments		640
Amounts representing interest		(106	)
Present value of lease obligations	$	534