Leases

6 Months Ended

Jun. 30, 2026

8. Leases

Operating Leases

As of June 30, 2026, the Company leases office space in Dallas, TX. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these short-term leases on a straight-line basis.


Lease Cost	Classification	Three Months Ended June 30, 2026		Three Months Ended June 30, 2025		Six Months Ended June 30, 2026		Six Months Ended June 30, 2025
Operating lease cost	SG&A Expenses	$	—	$	10	$	—	$	129
Short term lease cost	SG&A Expenses		—		1		—		4
Sublease income (1)	SG&A Expenses		—		—		—		(143	)
Net lease (income) cost		$	—	$	11	$	—	$	(10	)

(1)

Sublease income is recorded as a reduction to lease expense.