Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.24.2
LEASES (Tables)
12 Months Ended
Dec. 31, 2023
Leases  
SCHEDULE OF LESSEE OPERATING LEASE LIABILITY MATURITY

The following table provides details of our future minimum lease payments under operating lease liabilities recorded in our consolidated balance sheet as of December 31, 2023. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

 

 SCHEDULE OF LESSEE OPERATING LEASE LIABILITY MATURITY

(in thousands)   Operating Leases  
2024   $ 914  
2025     942  
2026     81  
2027      
2028 and thereafter      
Total minimum lease payments   $ 1,937  
Less: imputed interest     61  
Present value of minimum lease payments     1,876  
Less: current portion     866  
Long-term portion   $ 1,010  
SCHEDULE OF LEASE COST

The following expenses related to our operating leases were included in “general and administrative expenses” within our consolidated statements of operations and comprehensive loss:

 

SCHEDULE OF LEASE COST

(in thousands)        
    For the year ended December 31,  
(in thousands)   2023     2022  
Operating lease cost   $ 1,613     $ 2,735  
Variable lease cost     461       837  
Total lease cost   $ 2,074     $ 3,572  

 

The table below presents the terms and discount rates of the Company’s operating leases as of December 31:

 

    2023     2022  
Weighted average remaining lease terms     1.9 years       2.5 years  
Weighted average discount rate     2.2 %     2.2 %