CareCloud, Inc. Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases was as follows:

	December 31, 2021			December 31, 2020
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	6,940		$	7,743

Current operating lease liabilities	$	3,963		$	4,729
Non-current operating lease liabilities		4,545			6,297
Total operating lease liabilities	$	8,508		$	11,026

Operating leases:
ROU assets	$	10,535		$	10,648
Asset lease expense		(3,574	)		(2,889	)
Foreign exchange loss		(21	)		(16	)
ROU assets, net	$	6,940		$	7,743

Weighted average remaining lease term (in years):
Operating leases		4.26			2.71
Weighted average discount rate:
Operating leases		6.76	%		6.76	%
Operating leases, Weighted average discount rate		6.76	%		6.76	%

Supplemental cash flow and other information related to leases was as follows:

	Year Ended December 31,
	2021		2020
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,351	$	4,458

ROU assets obtained in exchange for lease liabilities:
Operating leases, net of impairment and terminations	$	2,790	$	7,559

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2022	$	4,420
2023		2,296
2024		1,019
2025		481
2026		216
Thereafter		1,756
Total lease payments		10,188
Less: imputed interest		(1,680	)
Total lease obligations		8,508
Less: current obligations		(3,963	)
Long-term lease obligations	$	4,545