Note 7 - Leases

Rent expense is recognized on a straight-line basis over the period of the lease considering future rent escalation and holiday periods.

Rent expense for the years ended December 31, 2025 and 2024 was as follows:

	Year ended December 31,
	2025		2024
Rent expense	$	300	$	460

We occupy approximately 9,402 square feet of office space in Salt Lake City, Utah under an operating lease expiring in February 2028. This facility supports the Company’s remaining administrative functions, public company compliance activities, and limited operational support functions.

The Company previously occupied a 1,350 square-foot facility in Gainesville, Florida under an operating lease that had been extended to February 29, 2029. On March 2, 2026, the Company entered into a Settlement, Release and Agreement to Terminate Lease with the landlord. Pursuant to the settlement, the Company paid $30 and forfeited its security deposit in exchange for full termination of the lease and a mutual release of all obligations. The Company has no further liability under this lease.

The Company previously occupied a 2,590 square-foot warehouse facility in Salt Lake City, Utah (363 West 2720 South, Suite B) under an operating lease scheduled to expire in February 2028. On February 24, 2026, the Company entered into an Early Termination Agreement with the landlord that terminated the lease effective midnight February 28, 2026. In connection with the early termination, the Company paid a buyout of $43 and forfeited its security deposit. The Company has no further liability under this lease after February 28, 2026. This facility previously supported warranty servicing and repair activities related to products sold prior to the October 2025 asset disposition.

The Company previously occupied a 6,175 square-foot facility in Chennai, India under the terms of an operating lease which expired September 2025. This facility supported our administrative, marketing, customer support, and research and product development activities. We did not renew the lease and vacated these premises on November 15, 2025 and the deposit was refunded in January 2026.

Supplemental cash flow information related to leases was as follows:

	Year ended December 31,
	2025			2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	300	$	462
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	256	$	175

Supplemental balance sheet information related to leases was as follows:

	December 31, 2025			December 31, 2024
Operating lease right-of-use assets	$	494		$	750

Current portion of operating lease liabilities, included in accrued liabilities	$	223		$	257
Operating lease liabilities, net of current portion		290			514
Total operating lease liabilities	$	513		$	771

Weighted average remaining lease term for operating leases (in years)		2.17			2.99
Weighted average discount rate for operating leases		6.76	%		6.59	%

The following represents maturities of operating lease liabilities as of December 31, 2025:

Years ending December 31,
2026	$	223
2027		247
2028		43
2029		—
2030		—
Thereafter		—
Total lease payments		513
Less: Imputed interest		—
Total	$	513

Subsequent to December 31, 2025, the Company terminated two of its operating leases: (i) the Gainesville, Florida facility was terminated on March 2, 2026 via a settlement agreement with a $30 cash payment and forfeiture of the security deposit; and (ii) the Salt Lake City warehouse facility was terminated effective February 28, 2026 via an early termination agreement with a $43 buyout and forfeiture of the security deposit. The Company has no further liability under either lease. See Note 17 – Subsequent Events for additional information.