Note 8 - Leases

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

8.  LEASES

The Company adopted ASU 2016-02, Leases (Topic 842) on January 1, 2019 using the modified retrospective approach. The Company has elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less.

Amortization of Right of Use operating lease assets was $21 and $67 for the three and nine months ended September 30, 2021 and was $31 and $91 for the three and nine months ended September 30, 2020, respectively.

Operating lease expense for capitalized operating leases included in operating activities was $23 and $73 for the three and nine months ended September 30, 2021 and was $34 and $103 for the three and nine months ended September 30, 2020, respectively. 

Operating lease obligations recorded on the balance sheet at September 30, 2021 are:

Operating lease liability- short term	$	79
Operating lease liability - long term		-
Total Operating Lease Liability	$	79

Future lease payments included in the measurement of lease liabilities on the balance sheet at September 30, 2021 for future periods are as follows:

2021 (3 months)	$	24
2022		58
Total future minimum lease payments		82
Less imputed interest		(3	)
Total	$	79

The weighted average remaining lease term is 0.8 years and the weighted average discount rate is 7.0%.

The Company does not have any finance leases.