Quarterly report [Sections 13 or 15(d)]

Note 9 - Operating Lease

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Note 9 - Operating Lease
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

9.

Operating Lease

 

Office lease

 

Our operating lease costs were $26,000 for each of the three-month periods ended March 31, 2026 and 2025. Our variable lease costs were $23,000 and $19,000 for the three months ended March 31, 2026 and 2025, 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 March 31, 2026 (in thousands):

 

2026

  $ 87  

2027

    119  

2028

    10  

Total lease payments

    216  

Less interest portion

    (16 )

Present value of operating lease obligation

    200  

Less current portion of operating lease

    (104 )

Operating lease obligation, non-current

  $ 96