Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2022
Leases  
SCHEDULE OF LEASE EXPENSE

The components of lease expense were as follows:

                         
    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2022     2021     2022     2021  
    ($ in thousands)  
Operating lease cost   $ 905     $ 1,058     $ 1,877     $ 2,115  
Short-term lease cost     35       22       75       44  
Variable lease cost     10       8       19       14  
Total- net lease cost   $ 950     $ 1,088     $ 1,971     $ 2,173  
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

Supplemental balance sheet information related to leases is as follows:

 

    June 30, 2022     December 31, 2021  
    ($ in thousands)  
Operating leases:                
Operating lease ROU assets, net   $ 5,447     $ 6,940  
                 
Current operating lease liabilities   $ 3,224     $ 3,963  
Non-current operating lease liabilities     3,319       4,545  
Total operating lease liabilities   $ 6,543     $ 8,508  
                 
Operating leases:                
ROU assets   $ 7,171     $ 10,535  
Asset lease expense     (1,658 )     (3,574 )
Foreign exchange loss     (66 )     (21 )
ROU assets, net   $ 5,447     $ 6,940  
                 
Weighted average remaining lease term (in years):                
Operating leases     4.53       4.26  
Weighted average discount rate:                
Operating leases     6.75 %     6.76 %
SCHEDULE OF SUPPLEMENTAL CASH FLOW AND OTHER INFORMATION RELATED TO LEASES

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

 

                         
    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2022     2021     2022     2021  
    ($ in thousands)  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flows from operating leases   $ 1,158     $ 1,336     $ 2,370     $ 2,732  
                                 
ROU assets obtained in exchange for lease liabilities:                                
Operating leases, excluding impairments and terminations   $ 15     $ 1,537     $ 442     $ 1,748  
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities are as follows:

 

Operating leases - Years ending December 31,   ($ in thousands)  
2022 (six months)   $ 2,205  
2023     2,263  
2024     995  
2025     514  
2026     232  
Thereafter     1,756  
Total lease payments     7,965  
Less: imputed interest     (1,422 )
Total lease obligations     6,543  
Less: current obligations     (3,224 )
Long-term lease obligations   $ 3,319