|
5.
OPERATING LEASES
The
components of lease expense and supplemental cash flow information related to leases for the period are as follows:
SCHEDULE
OF LEASE COST
| |
|
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 |
|
|