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

LEASES (Tables)

v3.26.1
LEASES (Tables)
12 Months Ended
Dec. 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 consolidated balance sheet as of December 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  
2026     170  
Total minimum lease payments   $ 170  
Less: imputed interest     (4 )
Present value of minimum lease payments   $ 166  
Less: current portion     166  
Long-term portion   $ -  
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)   2025     2024  
    For the year ended December 31,  
(in thousands)   2025     2024  
Operating lease cost   $ 912     $ 912  
Variable lease cost     520       440  
Total lease cost   $ 1,432     $ 1,352  

 

 

The table below presents the terms and discount rates of the Company’s operating leases as of December 31, 2025:

 

    2025     2024  
Weighted average remaining lease terms     0.5 years       1.0 years  
Weighted average discount rate     2.3 %     2.3 %