Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.22.4
LEASES (Tables)
12 Months Ended
Dec. 31, 2022
Leases  
SCHEDULE OF COMPONENTS OF LEASE COST

Operation lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following:

 

                 
    For the year ended December 31,  
(in thousands)   2022    

2021

(Restated)

 
Operating leases                
Operating lease cost   $ 327     $                   
Operating lease expense     327        
Short-term lease rent expense     29       31  
Total rent expense   $ 356     $ 31  
SUMMARY OF MINIMUM LEASE PAYMENTS

Additional information regarding the Company’s leasing activities as a lessee is as follows:

 

    For the year ended December 31,  
(in thousands, except term and discount rate data)   2022    

2021

(Restated)

 
Operating cash flows from operating leases   $ 67     $  
Weighted-average remaining lease term – operating leases     3.9        
Weighted-average discount rate – operating leases     5 %     %
SCHEDULE OF LEASE LIABILITY MATURITY

 

Year  

Amount

(in thousands)

 
2023     459  
2024     362  
2025     312  
2026     241  
2027     102  
Thereafter      
Total     1,476  
Less: Imputed interest     (133 )
Present value of lease liability     1,343