Leases	9 Months Ended
Sep. 30, 2024
Leases
Leases	7) Leases On September 1, 2024 the Company extended the term of its Romeoville lease for an additional 37 months beginning on January 1, 2025. The total monthly payments for 2025 will be $34, escalating to $36 and $37 for the year 2026 and 2027, respectively, with one payment of $39 for the final month of the extension on January 1, 2028. All other terms remain unchanged. Nanophase Technologies subleases portions of its leased facilities that are used to support operations for the lessees. Total lease payment received for the three and nine months ended September 30, 2024 was $125 and $399, respectively. Total lease payment received for the three and nine months ended September 30, 2023 was $196 and $599, respectively. The arrangement is not with a related party. Payments received by the Company for these subleases are comprised of two components, which include base rent and Common Area Maintenance (CAM) charges. While the base rent is fixed, the CAM charges are indexed directly to the Master Lease and are expected to be adjusted periodically as actual costs are incurred. However, the executed sublease agreements specifically itemize these costs with a provision that informs the sublessee that the CAM charges will be adjusted (up or down) based on actual amounts once this information becomes known. As such, the nature of the charges is more closely representative of a fixed payment (an “in-substance fixed” charge) with the adjustments occurring simply to “true up” the listed CAM charges once actual charges from the head lessor become known. As sublessor, Nanophase Technologies has elected the practical expedient to not separate lease and nonlease components in disclosing future undiscounted cashflows and treats the combined components as a single lease component. Both subleases are now month to month. There are no future undiscounted lease payments that are guaranteed.

Leases

9 Months Ended

Sep. 30, 2024

7) Leases

On September 1, 2024 the Company extended the term of its Romeoville lease for an additional 37 months beginning on January 1, 2025. The total monthly payments for 2025 will be $34, escalating to $36 and $37 for the year 2026 and 2027, respectively, with one payment of $39 for the final month of the extension on January 1, 2028. All other terms remain unchanged.

Nanophase Technologies subleases portions of its leased facilities that are used to support operations for the lessees. Total lease payment received for the three and nine months ended September 30, 2024 was $125 and $399, respectively. Total lease payment received for the three and nine months ended September 30, 2023 was $196 and $599, respectively. The arrangement is not with a related party.

Payments received by the Company for these subleases are comprised of two components, which include base rent and Common Area Maintenance (CAM) charges. While the base rent is fixed, the CAM charges are indexed directly to the Master Lease and are expected to be adjusted periodically as actual costs are incurred. However, the executed sublease agreements specifically itemize these costs with a provision that informs the sublessee that the CAM charges will be adjusted (up or down) based on actual amounts once this information becomes known. As such, the nature of the charges is more closely representative of a fixed payment (an “in-substance fixed” charge) with the adjustments occurring simply to “true up” the listed CAM charges once actual charges from the head lessor become known. As sublessor, Nanophase Technologies has elected the practical expedient to not separate lease and nonlease components in disclosing future undiscounted cashflows and treats the combined components as a single lease component.

Both subleases are now month to month. There are no future undiscounted lease payments that are guaranteed.