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Note 8 Leases
As of June 30, 2025, the balance of our right-of-use (“ROU”) assets was $3.2 million, net and lease liabilities were $3.3 million, included in current portion, lease liability and lease liability, net of current portion. The maturity of our lease liabilities as of June 30, 2025 is as follows in (“000’s”):
| Year | | Finance | | | Operating | |
| 2025 | | $ | 168 | | | $ | 812 | |
| 2026 | | | 122 | | | | 830 | |
| 2027 | | | 64 | | | | 519 | |
| 2028 | | | — | | | | 166 | |
| 2029 | | | — | | | | 169 | |
| Thereafter | | | — | | | | 780 | |
| Total undiscounted Lease Payments | | | 354 | | | | 3,276 | |
| Less: Present value discount | | | (12 | ) | | | (330 | ) |
| Total Lease Liability | | $ | 342 | | | $ | 2,946 | |
Lease expense recognized on our leases is as follows in (“000’s”):
| | | Six months
Ended
June 30,
2025 | | | Six months
Ended
June 30,
2024 | | | Three months
Ended
June 30,
2025 | | | Three months
Ended
June 30,
2024 | |
| Finance leases | | | | | | | | | | | | | | | | |
| Amortization expense | | $ | 72 | | | $ | 83 | | | $ | 41 | | | $ | 41 | |
| Interest expense | | | 6 | | | | 8 | | | | 3 | | | | 4 | |
| Operating leases | | | | | | | | | | | | | | | | |
| Straight-line rent expense | | | 395 | | | | 389 | | | | 197 | | | | 194 | |
| Total lease expense | | $ | 473 | | | $ | 480 | | | $ | 241 | | | $ | 239 | |
The following summarizes additional information related to our leases for 2025 and 2024 in (“000’s”):
| | | Six months ended
June 30, 2025 | | | Three months ended
June 30, 2024 | |
| | | Finance | | | Operating | | | Finance | | | Operating | |
| Weighted-average remaining lease terms (years) | | | 2.3 | | | | 5.7 | | | | 2.6 | | | | 3.4 | |
| Weighted-average discount rate | | | 3.51 | % | | | 3.47 | % | | | 4.00 | % | | | 2.95 | % |
| ROU assets obtained in exchange for new lease liabilities | | $ | 180 | | | $ | 1,395 | | | $ | 63 | | | $ | — | |
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