Quarterly report [Sections 13 or 15(d)]

Note 9 - Operating Lease

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Note 9 - Operating Lease
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

9.         Operating Lease

 

Office lease

 

Our operating lease costs were $78,000 for each of the nine-month periods ended September 30, 2025 and 2024. Our variable lease costs were $67,000 and $64,000 for the nine months ended September 30, 2025 and 2024, respectively. Variable lease costs consist primarily of common area maintenance costs, insurance and taxes which are paid based upon actual costs incurred by the lessor.

 

Maturities of our operating lease obligation are as follows as of September 30, 2025 (in thousands):

 

2025

  $ 29  

2026

    116  

2027

    119  

2028

    10  

Total lease payments

    274  

Less interest portion

    (25 )

Present value of operating lease obligation

    249  

Less current portion of operating lease

    (99 )

Operating lease obligation, non-current

  $ 150