LEASE AGREEMENTS

12 Months Ended

Dec. 31, 2021

Lease Agreements

LEASE AGREEMENTS

NOTE 5 – LEASE AGREEMENTS

1) The Company’s Israeli subsidiary has a lease agreement for a facility in Israel, which expires on December 31, 2022 with an option to extend the agreement for two additional years until December 31, 2024 under the terms stipulated in the agreement. The Option Period was taken in consideration when calculating the operating lease right of use assets and liabilities. In addition, the Company entered in June 2021 into another amendment to the lease agreement for a lease of additional space in the facility. This amendment was added to the ROU and the Lease liability.

2) The Company leases its motor vehicles under operating lease agreements.

3) Operating lease cost for the years ended December 31, 2021 and 2020 was $476,000 and $370,000 respectively.

Supplemental information related to leases are as follows:

	December 31			December 31
	2021			2020
	($ in thousands)			($ in thousands)
Operating lease right-of-use assets		1,081			1,265
Current Operating lease liabilities		(420	)		(400	)
Non-current operating lease liabilities		(781	)		(999	)

Other information:

Operating cash flows from operating leases (cash paid in thousands)	(437	)	(387	)
Weighted Average Remaining Lease Term	3		3.9
Weighted Average Discount Rate	8.38	%	8.38	%

Maturities of lease liabilities are as follows:

	Amount
	($ in thousands)
2022		433
2023		444
2024		465
Total lease payments		1,342
Less imputed interest		(141	)
Total		1,201

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)