|
NOTE 7 - LEASE
On May 12, 2021, the Company entered into a lease arrangement for office space with Beckman/Lomas LLC, an entity controlled by a close family member of a director.
The following summarizes the right-of use asset and lease information about the Company’s operating lease as of March 31, 2022:
|
|
Three months
ended
|
|
|
|
March 31, |
|
|
|
2022 |
|
Lease cost: |
|
|
|
Operating lease cost |
|
$ |
7 |
|
|
|
|
|
|
Other information: |
|
|
|
|
Cash paid for operating cash flows from operating leases |
|
$ |
8 |
|
Right-of-use assets obtained in exchange for new operating lease liability |
|
$ |
- |
|
|
|
|
|
|
Weighted-average remaining lease term — operating leases (year) |
|
|
2.42 |
|
Weighted-average discount rate — operating leases |
|
|
3.00 |
% |
Future minimum lease payments under the operating lease liability has non-cancelable lease payments at March 31, 2022 as follows:
|
|
Total |
|
Year Ended December 31, |
|
|
|
Remaining 9 months of 2022 |
|
|
25 |
|
2023 |
|
|
34 |
|
2024 |
|
|
24 |
|
Thereafter |
|
|
- |
|
|
|
|
83 |
|
Less: Imputed interest |
|
|
(2 |
) |
Operating lease liabilities |
|
|
81 |
|
|
|
|
|
|
Operating lease liability - current |
|
|
32 |
|
Operating lease liability - non-current |
|
$ |
49 |
|
|