Leases (Tables)

6 Months Ended

Jun. 30, 2024

The components of lease expense are as follows:

	Three months ended				Six months ended
(in thousands)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Operating lease expense	$	173	$	183	$	346	$	345

Finance lease cost
Amortization of right-to-use assets	$	3	$	1	$	5	$	2
Interest on lease liabilities	$	-	$	-	$	1	$	1
Total finance lease cost	$	3	$	1	$	6	$	3

Supplemental cash flow information related to leases are as follows:

	Six months ended
(in thousands)	June 30, 2024		June 30, 2023

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow use from operating leases	$	306	$	300
Operating cash flow use from finance leases	$	5	$	2
Financing cash flow use from finance leases	$	5	$	2

Non-cash activity:

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	-	$	-
Finance Leases	$	-	$	-

Weighted average remaining lease terms are as follows at June 30, 2024:

Weighted average remaining lease term:
Operating leases		3.1 years
Finance Leases		2.5 years

Below is information on the weighted average discount rates used at the time that the leases were evaluated:

Weighted average discount rates:
Operating leases	4.8	%
Finance Leases	6.2	%

Maturities of lease liabilities are as follows:

(in thousands) Year ending December 31,	Operating Leases			Finance Leases
2024 (excluding six months ended June 30, 2024)		312			5
2025		630			11
2026		643			11
2027		380			-
Total lease payments	$	1,965		$	27
Less imputed interest		(141	)		(2	)
Present value of lease liabilities	$	1,824		$	25