LEASE AGREEMENTS

12 Months Ended

Dec. 31, 2022

Lease Agreements

LEASE AGREEMENTS

NOTE 5 – LEASE AGREEMENTS

1)

The Company’s Israeli subsidiary had a lease agreement for a facility in Israel, which expired on December 31, 2022 with an option to extend the agreement for two additional years until December 31, 2024. On May 25, 2022 the Company amended the agreement mentioned above and extended it until December 31, 2026 as well as leasing of additional space in the facility, the additional space amendment was taken in consideration when calculating the operating lease right of use assets and liabilities.

2)

Operating lease cost for the years ended December 31, 2022 and 2021 was $442,000 and $476,000 respectively.

Supplemental information related to leases are as follows:

	December 31			December 31
	2022			2021
	($ in thousands)			($ in thousands)
Operating lease right-of-use assets		1,554			1,081
Current Operating lease liabilities		(419	)		(420	)
Non-current operating lease liabilities		(1,195	)		(781	)

Other information:

Operating cash flows from operating leases (cash paid in thousands)	(436	)	(437	)
Weighted Average Remaining Lease Term	4		3
Weighted Average Discount Rate	8.69	%	8.38	%

Maturities of lease liabilities are as follows:

	Amount
	($ in thousands)
2023		432
2024		472
2025		472
2026		513
Total lease payments		1,889
Less imputed interest		(275	)
Total		1,614

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)