Annual report pursuant to Section 13 and 15(d)

OPERATING LEASES (Tables)

v3.23.1
OPERATING LEASES (Tables)
 12 Months Ended
Dec. 31, 2022
Operating Leases  
SCHEDULE OF LEASE COST

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

 

             
    Years Ended December 31,  
    2022     2021  
Lease cost                
Operating lease cost (included in general and administrative expenses in the Company’s statement of operations)   $ 496     $ 598  
                 
Other information                
Cash paid for amounts included in the measurement of lease liabilities   $ 608     $ 667  
Weighted average remaining lease term – operating leases (in years)     3.85       4.34  
Weighted average discount rate – operating leases     4.2 %     4.0 %
SCHEDULE OF OPERATING LEASES

 

             
    As of December 31,  
    2022     2021  
Operating leases                
ROU assets   $ 1,473     $ 2,177  
                 
Short-term operating lease liabilities   $ 476     $ 592  
Long-term operating lease liabilities     1,581       2,299  
Total operating lease liabilities   $ 2,057     $ 2,891  
SCHEDULE OF PRESENT VALUE OF LEASE LIABILITIES

 

Year ending   Operating Leases  
2023     583  
2024     472  
2025     484  
2026 and thereafter     705  
Total lease payments     2,244  
Less: Imputed interest/present value discount     (187 )
Present value of lease liabilities   $ 2,057