Quarterly report [Sections 13 or 15(d)]

LEASES (Tables)

v3.25.1
LEASES (Tables)
3 Months Ended
Mar. 31, 2025
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 condensed consolidated balance sheet as of March 31, 2025. 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  
Remainder of 2025   $ 710  
2026     81  
Total minimum lease payments   $ 791  
Less: imputed interest     (11 )
Present value of minimum lease payments   $ 780  
Less: current portion     780  
Long-term portion   $  
SCHEDULE OF LEASE COST

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

 

(in thousands)   2025     2024  
    For the three months ended
March 31,
 
(in thousands)   2025     2024  
Operating lease cost     502       265  
Variable lease cost            
Total lease cost   $ 502     $ 265  

 

The table below presents lease-related terms and discount rates as of March 31, 2025:

 

    Operating Leases  
Weighted average remaining lease terms     0.75 years  
Weighted average discount rate     2.3 %