Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASES (Tables)

v3.23.1
OPERATING LEASES (Tables)
 3 Months Ended
Mar. 31, 2023
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:

 

    2023     2022  
    Three Months Ended March 31,  
    2023     2022  
Lease cost                
Operating lease cost (included in general and administrative expenses in the Company’s statement of operations)   $ 122     $ 107  
                 
Other information                
Cash paid for amounts included in the measurement of lease liabilities   $ 150     $ 171  
Weighted average remaining lease term – operating leases (in years)     3.73       5.17  
Weighted average discount rate – operating leases     4.2 %     4.0 %
SCHEDULE OF OPERATING LEASES
    March 31, 2023     December 31, 2022  
Operating leases                
Right-of-use assets   $ 1,371     $ 1,473  
                 
Short-term operating lease liabilities   $ 447     $ 476  
Long-term operating lease liabilities     1,481       1,581  
Total operating lease liabilities   $ 1,928     $ 2,057  
SCHEDULE OF PRESENT VALUE OF LEASE LIABILITIES
Year ending   Operating Leases  
2023 remaining   $ 432  
2024     472  
2025     484  
2026     496  
2027 and thereafter     209  
Total lease payments     2,093  
Less: Imputed interest/present value discount     (165 )
Present value of lease liabilities   $ 1,928