Annual report [Section 13 and 15(d), not S-K Item 405]

COMMITMENTS AND CONTINGENCIES (Tables)

v3.25.0.1
COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
SCHEDULE OF LEASE COSTS

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the year ended December 31, 2024 and 2023 (in thousands):

 

 

2024

 

 

2023

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

1,240

 

 

$

1,240

 

Total lease cost

 

$

1,240

 

 

$

1,240

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

Weighted average remaining lease term

 

1.9 years

 

 

2.8 years

 

Weighted average discount rate

 

 

8.00

%

 

 

8.00

%

SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Pursuant to the terms of the Company’s non-cancelable lease agreements in effect at December 31, 2024, the following table summarizes the Company’s maturities of operating lease liabilities as of December 31, 2024 (in thousands):

 

2025

 

$

1,795

2026

 

 

1,688

Total lease payments

 

$

3,483

 

 

 

Less: imputed interest

 

 

(244)

Total

 

$

3,239