Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

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LEASES (Tables)
9 Months Ended
Sep. 30, 2024
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 September 30, 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  
Remainder of 2024   $ 230  
2025     942  
2026     81  
2027      
2028 and thereafter      
Total minimum lease payments   $ 1,253  
Less: imputed interest     41  
Present value of minimum lease payments   $ 1,212  
Less: current portion     886  
Long-term portion   $ 326  
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)   2024     2023  
    For the nine months ended September 30,  
(in thousands)   2024     2023  
Operating lease cost     685       1,474  
Variable lease cost           461  
Total lease cost   $ 685     $ 1,935  

 

The table below presents lease-related terms and discount rates as of September 30, 2024:

 

    Operating Leases  
Weighted average remaining lease terms     1.3 years  
Weighted average discount rate     2.3 %