LEASES

6 Months Ended

Jun. 30, 2025

NOTE 15 – LEASES

The Company has various operating lease agreements, which are primarily for office space. These agreements frequently include one or more renewal options and require the Company to pay for utilities, taxes, insurance and maintenance expense. No lease agreement imposes a restriction on the Company’s ability to engage in financing transactions or enter into further lease agreements. At June 30, 2025, the Company has right-of-use assets of $0.5 million and a total lease liability for operating leases of $0.5 million of which $0.3 million is included in long-term lease liabilities and $0.2 million is included in current lease liabilities.

At June 30, 2025, future minimum lease payments for operating leases with non-cancelable terms of more than one year were as follows (in thousands):

Year Ending December 31,
Remainder of 2025	$	146
2026		142
2027		139
2028		100
2029		7
		534
Included interest		(42	)
	$	492

No new leases or amendments were entered into during the six months ended June 30, 2025 and 2024.

Operating lease expense was $0.1 million for both the three-months ended June 30, 2025, and 2024.

Operating lease expense was $0.2 million for both the six-months ended June 30, 2025 and 2024.

Other information related to leases is as follows:

Cash paid for amounts included in the measurement of lease liabilities:	Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Operating cash flow from operating leases (in thousands)	$	141	$	148

Weighted Average Remaining Lease Term
Operating leases		2.87 years		3.43 years

Weighted Average Discount Rate
Operating leases		5.27%		4.71%