LEASES

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

LEASES

LEASES

Operating Leases

The Company leases its facility in Sofia, Bulgaria and computers under non-cancelable operating lease agreements. During the three months ended September 30, 2022, the Company’s leases on the vehicles in Clearwater, Florida expired and the Company purchased the vehicles at fair value. During the three months ended September 30, 2022, the Company entered into a one year extension on one of its leases on computer equipment. This extension resulted in reclassification of the lease from finance to operating. During the nine months ended September 30, 2022, the Company entered into a five year extension of its Sofia, Bulgaria facility. These operating leases have terms expiring through December 2027.

Finance Leases

The Company has entered into non-cancelable finance leases for certain computer equipment and a vehicle in Clearwater, Florida. During the nine months ended September 30, 2022, the Company entered into a 63 month lease for computer equipment. These finance leases have terms expiring through July 2027.

Information about the Company’s weighted average remaining lease terms and discount rate assumptions are as follows:

	September 30, 2022		December 31, 2021
	Operating	Finance	Operating	Finance
Weighted average remaining lease term (in years)	4.4	4.1	1.0	0.8
Weighted average discount rate	2.75%	2.64%	3.98%	4.00%

Maturities of lease liabilities as of September 30, 2022 are as follows:

(In thousands)	Operating		Finance
2022	$	75	$	10
2023	218		40
2024	111		21
2025	111		21
2026	111		21
Thereafter	111		12
Total lease payments	737		125
Less imputed interest	(43)		(5)
Present value of lease liabilities	694		120
Less current portion of lease liabilities	(240)		(42)
Long-term portion of lease liabilities	$	454	$	78

LEASES

LEASES

Operating Leases

The Company leases its facility in Sofia, Bulgaria and computers under non-cancelable operating lease agreements. During the three months ended September 30, 2022, the Company’s leases on the vehicles in Clearwater, Florida expired and the Company purchased the vehicles at fair value. During the three months ended September 30, 2022, the Company entered into a one year extension on one of its leases on computer equipment. This extension resulted in reclassification of the lease from finance to operating. During the nine months ended September 30, 2022, the Company entered into a five year extension of its Sofia, Bulgaria facility. These operating leases have terms expiring through December 2027.

Finance Leases

The Company has entered into non-cancelable finance leases for certain computer equipment and a vehicle in Clearwater, Florida. During the nine months ended September 30, 2022, the Company entered into a 63 month lease for computer equipment. These finance leases have terms expiring through July 2027.

Information about the Company’s weighted average remaining lease terms and discount rate assumptions are as follows:

	September 30, 2022		December 31, 2021
	Operating	Finance	Operating	Finance
Weighted average remaining lease term (in years)	4.4	4.1	1.0	0.8
Weighted average discount rate	2.75%	2.64%	3.98%	4.00%

Maturities of lease liabilities as of September 30, 2022 are as follows:

(In thousands)	Operating		Finance
2022	$	75	$	10
2023	218		40
2024	111		21
2025	111		21
2026	111		21
Thereafter	111		12
Total lease payments	737		125
Less imputed interest	(43)		(5)
Present value of lease liabilities	694		120
Less current portion of lease liabilities	(240)		(42)
Long-term portion of lease liabilities	$	454	$	78