The Company leased office space in Newark, California under a cancelable operating lease agreement, which was terminated in December 2021.

The Company executed a noncancelable operating lease for approximately 9,091 square feet of office space in Hayward, California in November 2021 as its headquarters. There lease expires in October 2025 and there is no option to renew for an additional term. The Company is obligated to pay, on a

pro-rata

basis, real estate taxes and operating costs related to the premises.

The lease cost for the year ended December 31, 2021 is as follows:


Operating lease cost	$	21

Short term lease cost		28

Total lease cost	$	49

Amounts reported in the balance sheet for leases where the Company is the lessee as of December 31, 2021 are as follows:


Right-of-use assets, operating lease	$	503

Operating lease liabilities, current	$	163
Operating lease liabilities, non-current		545

Total operating lease liabilities	$	708

Remaining lease term (in years)		3.83
Discount rate		6.0	%

Other information related to leases for the year ended December 31, 2021 is as follows:


Cash paid for amounts included in the measurement of lease liabilities		$	—

Future minimum lease payments remaining as of December 31, 2021 under the operating lease by fiscal year are as follows:


Fiscal Year
2022	$	202
2023		206
2024		210
2025		178

Total minimum lease payments		796
Less imputed interest		(88	)

Present value of lease payments	$	708

Rent expense recorded during the year ended December 31, 2020 was $55.

At December 31, 2021, there were no purchase commitments with third-party suppliers.

Contingencies

From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities. The Company accrues a liability for such matters when future expenditures are probable and such expenditures can be reasonably estimated. The Company recorded no liabilities for contingent matters as of December 31, 2021.