Quarterly report pursuant to Section 13 or 15(d)

OPERATING LEASES (Tables)

v3.23.2
OPERATING LEASES (Tables)
 6 Months Ended
Jun. 30, 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  
    Six Months Ended June 30,  
    2023     2022  
Lease cost                
Operating lease cost (included in general and administrative expenses in the Company’s statement of operations)   $ 170     $ 192  
                 
Other information                
Cash paid for amounts included in the measurement of lease liabilities   $ 113     $ 221  
Weighted average remaining lease term – operating leases (in years)     3.92       4.92  
Weighted average discount rate – operating leases     4.0 %     4.0 %
SCHEDULE OF OPERATING LEASES

 

    June 30, 2023     December 31, 2022  
Operating leases                
Right-of-use assets   $ 1,220     $ 1,354  
                 
Short-term operating lease liabilities   $ 482     $ 355  
Long-term operating lease liabilities     1,379       1,581  
Total operating lease liabilities   $ 1,861     $ 1,936  
SCHEDULE OF PRESENT VALUE OF LEASE LIABILITIES

 

Year ending   Operating Leases  
2023 remaining   $ 346  
2024     472  
2025     484  
2026     496  
2027 and thereafter     209  
Total lease payments     2,007  
Less: Imputed interest/present value discount     (146 )
Present value of lease liabilities   $ 1,861