Company: ACCS
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000843006-25-000041
Chunk: 20

Company: ACCESS Newswire Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 to Raleigh, North Carolina. The lease had a lease commencement date of October 2, 2019 and expires December 31, 2027. Minimum lease payments are $2,997,000, not including a tenant improvement allowance of $488,000, which is included in fixed assets as of June 30, 2025 and December 31, 2024. The Company recognized a ROU asset and corresponding lease liability of $2,596,000, which represents the present value of minimum lease payments discounted at 3.77%, the Company’s incremental borrowing rate at lease inception.  Lease liabilities totaled $889,000 as of June 30, 2025. The current portion of this liability of $394,000 is included in Accrued expenses on the Consolidated Balance Sheets and the long-term portion of $495,000 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 thousands):   For the Three Months Ended  For the Six Months Ended   June 30,  June 30,  June 30,  June 30,   2025  2024  2025  2024 Lease expense            Operating lease expense $76  $76  $152  $152 Variable lease expense  16   18   31   32 Total lease expense $92  $94  $183  $184  The weighted-average remaining non-cancelable lease term for our operating leases was 2.50 years as of June 30, 2025. As of June 30, 2025, 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 June 30, 2025, are as follows (in thousands): Year Ended December 31:   2025 $197 2026  401 2027  412 Total lease payments $1,010 Present value adjustment  (121 )Lease liability  889  We have performed an evaluation of our other