Note 11 - Leases |
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| Lessee, Operating Leases [Text Block] |
(11) Leases
The Company accounts for leases in accordance with ASC 842, “Leases.”
In
February 2022, the Company entered into a sublease agreement and lease extension agreement for office space in Beaverton, Oregon to move the Company’s corporate headquarters. The term of the sublease and lease extension runs through
September 2030. The remaining rent payments as of
December 31, 2025 were
$6,487 plus operating expenses, payable in monthly installments. The
first
26 months of rent payments and operating expenses were abated to cover the remaining lease term on the Company’s former corporate headquarters.
All of the Company’s leases are operating leases. The following table provides additional details of leases presented in the Consolidated Balance Sheets:
The current lease liabilities are included in “accounts payable and other accrued liabilities” in the Consolidated Balance Sheets.
The carrying value of the lease right of use assets is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. No impairment was recorded for the years ended December 31, 2025 and December 31, 2024.
Operating lease expense is included in “operating expenses” in the Consolidated Statements of Operations and in “cash flows from operating activities” in the Consolidated Statements of Cash Flows. The operating leases include variable lease payments, which are included in operating lease expense. Additional details of the Company’s operating leases are presented in the following table:
The table below reconciles the aggregate cash payment obligations for the next five years and total of the remaining years for the operating lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2025:
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