Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 876

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 876
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 liability of $389,000 is included in Accrued expenses on the Consolidated balance sheets and the long-term portion of $668,000 is included in Lease liabilities on the Consolidated balance sheets. Rent expense consists of both operating lease expense from amortization of our ROU assets as well as variable lease expense which consists of non-lease components of office leases (i.e. common area maintenance) or rent expense associated with short-term leases. The components of lease expense were as follows (in 000’s):   Year ended December 31, 2024  Year ended December 31, 2023 Lease expense      Operating lease expense $304  $304 Variable lease expense  64   56 Rent expense $368  $360 

 F-24Table of Contents

The weighted-average remaining non-cancelable lease term for our operating leases was 3 years as of December 31, 2024. As of December 31, 2024, the weighted-average discount rate used to determine the lease liability was 3.77%. The future minimum lease payments to be made under non-cancelable operating leases on December 31, 2024, are as follows (in 000’s): Year Ended December 31:   2025 $389 2026  401 2027  413 Total lease payments  1,203 Present value adjustment  (146 )Lease liability $1,057  We have performed an evaluation of our other contracts with customers and suppliers in accordance with Topic 842 and have determined that, except for the leases described above, none of our contracts contain a lease.

Note 11: Commitments and Contingencies From time to time, the Company may be involved in litigation that arises through the normal course of business. The Company is neither a party to any litigation nor is aware of any such threatened or pending litigation that might result in a material adverse effect to the Company’s business.

Note 12: Segment Reporting Operating segments are components of an enterprise about which separate financial information is available and is evaluated periodically by management, namely the Chief Operating Decision Maker (“CODM”) of an organization, in order to determine operating and resource allocation decisions. By this definition, the Company has identified its CEO as the CODM. The Company considers itself to be in a single reportable segment under the authoritative guidance for segment reporting, specifically a communications company for publicly traded and