Solana Co Leases Disclosure
The Company has operating lease for office space with lease terms that commenced in January 2022 and will expire in March 2025. The lease does not contain any options to extend. Operating lease costs for the years ended December 31, 2024 and 2023 were $41 thousand and $54 thousand, respectively.
On January 16, 2025, the Company entered into an agreement to extend the operating lease for the Newtown, PA office through March 31, 2026, at a rate of $4 thousand per month effective April 1, 2025.
Maturities of operating lease liabilities as of December 31, 2024 were as follows (in thousands):
2025 | $ | 12 | |
Total lease payments |
| 12 | |
Less: imputed interest |
| — | |
Total lease liabilities | $ | 12 |
The following table provides information on the lease term and discount rate for the operating lease as of December 31, 2024:
Remaining lease term (in years) |
| 0.25 | |||
Discount rate |
| 4.55 | % |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 25, 2025 | Showing above |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 9, 2023 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.