Leases (Tables)

9 Months Ended

Sep. 30, 2024

The components of lease expense are as follows:

	Three months ended				Nine months ended
(in thousands)	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Operating lease expense	$	173	$	173	$	519	$	518

Finance lease cost
Amortization of right-to-use assets	$	3	$	1	$	8	$	3
Interest on lease liabilities	$	-	$	-	$	1	$	-
Total finance lease cost	$	3	$	1	$	9	$	3

Supplemental cash flow information related to leases are as follows:

	Nine months ended
(in thousands)	September 30, 2024		September 30, 2023

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow use from operating leases	$	462	$	453
Operating cash flow use from finance leases	$	8	$	3
Financing cash flow use from finance leases	$	7	$	3

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 September 30, 2024:

Weighted average remaining lease term:
Operating leases			2.8 years
Finance Leases			2.3 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 nine months ended September 30, 2024)		156			3
2025		630			11
2026		643			11
2027		380			-
Total lease payments	$	1,809		$	25
Less imputed interest		(121	)		(2	)
Present value of lease liabilities	$	1,688		$	23