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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases

(9) Leases

The Company accounts for leases in accordance with ASC 842, “Leases.The Company leases its corporate office in Beaverton, Oregon. The term of the lease runs through March 2024 with remaining rent payments as of December 31, 2021 totaling $1,899 plus operating expenses, payable in monthly installments.

All of the Company’s leases are operating leases.  The following table provides additional details of leases presented in the Consolidated Balance Sheets:

 

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Right of use assets

 

$

1,300

 

 

$

1,793

 

Lease liabilities, current

 

$

745

 

 

$

663

 

Lease liabilities, long-term

 

$

1,028

 

 

$

1,772

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining life

 

2.2 years

 

 

3.2 years

 

Weighted-average discount rate

 

 

8

%

 

 

8

%

The carrying value of the right of use assets is included in “Other assets” and the current and long-term lease liabilities are included in “Accounts payable and other accrued liabilities” and “Lease liability and other long-term liabilities,” respectively, in the Consolidated Balance Sheets.

Operating lease expense is included in operating expenses in the Consolidated Statements of Operations and in cash flows from operating activities in the Consolidated Statements of Cash Flows. The operating leases include variable lease costs which are included in operating lease expense as incurred. Additional details of the Company’s operating leases are presented in the following table:

 

 

 

Year-Ended

 

 

Year-Ended

 

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Operating lease expense

 

$

1,020

 

 

$

1,030

 

Cash paid for operating leases

 

$

1,170

 

 

$

1,218

 

 

The table below reconciles the cash payment obligations for the first five years and total of the remaining years for the operating lease liability recorded in the Consolidated Balance Sheet as of December 31, 2021:

 

 

 

Cash

 

 

 

Payment

 

Year ending December 31:

 

Obligations

 

2022

 

$

862

 

2023

 

 

867

 

2024

 

 

218

 

2025

 

 

 

2026

 

 

 

Thereafter

 

 

 

Total lease payments

 

 

1,947

 

Imputed interest

 

 

(174

)

Total minimum lease payments

 

$

1,773