Annual report [Section 13 and 15(d), not S-K Item 405]

LEASES (Tables)

v3.25.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
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, 2024. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

 

(in thousands)   Operating Leases  
2025   $ 942  
2026     81  
2027      
2028      
2029 and thereafter      
Total minimum lease payments   $ 1,023  
Less: imputed interest     14  
Present value of minimum lease payments     1,009  
Less: current portion     926  
Long-term portion   $ 83  
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:

 

(in thousands)   2024     2023  
    For the year ended December 31,  
(in thousands)   2024     2023  
Operating lease cost   $ 912     $ 1,613  
Variable lease cost     440       461  
Total lease cost   $ 1,352     $ 2,074  

 

The table below presents the terms and discount rates of the Company’s operating leases as of December 31, 2024:

 

    2024     2023  
Weighted average remaining lease terms     1.0 years       1.9 years  
Weighted average discount rate     2.3 %     2.2 %