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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Operating Lease Costs Recognized under ASC 842 and Supplemental Cash Flow Information for Leases The following table contains a summary of the operating lease costs recognized under ASC 842 and supplemental cash flow information for leases for the years ended December 31, 2022 and 2021:

 

 

Year Ended
December 31,

 

 

 

2022

 

 

2021

 

Fixed lease expense

 

$

278

 

 

$

244

 

Total lease cost

 

$

278

 

 

$

244

 

 

 

 

 

 

 

 

Other information:

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

257

 

 

$

257

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

1,936

 

 

$

-

 

 

Summary Balance Sheet Classification of Operating Leases and Weighted Average Remaining Lease Term and Discount Rate

The following table summarizes the balance sheet classification of the Company’s operating leases, amounts of ROU assets and lease liabilities, the weighted average remaining lease term, and the weighted average discount rate for the Company’s operating leases:

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Lease assets

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

2,052

 

 

$

356

 

Total lease assets

 

$

2,052

 

 

$

356

 

 

 

 

 

 

 

 

Lease liabilities

 

 

 

 

 

 

Current:

 

 

 

 

 

 

Operating lease liabilities

 

$

165

 

 

$

248

 

Non-current:

 

 

 

 

 

 

Operating lease liabilities

 

 

1,927

 

 

 

127

 

Total lease liabilities

 

$

2,092

 

 

$

375

 

 

 

 

 

 

 

 

Weighted-average remaining lease term — operating leases (years)

 

 

5.92

 

 

 

1.50

 

Weighted-average discount rate — operating leases

 

 

8.48

%

 

 

3.75

%

Summary of Payments by Date for Operating Lease

The following table summarizes the payments by date for the Company’s operating lease, which is then reconciled to our total lease obligation, as of December 31, 2022:

2023

 

 

337

 

2024

 

 

448

 

2025

 

 

464

 

2026

 

 

480

 

2027

 

 

497

 

Thereafter

 

 

470

 

Total lease payments

 

 

2,696

 

Less: Interest

 

 

(604

)

Present value of lease liabilities

 

$

2,092