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v3.23.3

LEASES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Leases |
SCHEDULE OF COMPONENTS OF LEASE EXPENSE | The components of lease expense were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE
(in thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Operating lease expense |  | $ | 667 |  |  | $ | 365 |  |  | $ | 1,949 |  |  | $ | 865 |
Finance lease expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets |  |  | 6 |  |  |  | 6 |  |  |  | 19 |  |  |  | 19 |
Interest on lease liabilities |  |  | - |  |  |  | 1 |  |  |  | 1 |  |  |  | 2 |
Total finance lease expense |  |  | 6 |  |  |  | 7 |  |  |  | 20 |  |  |  | 21 |
Total lease expense |  | $ | 673 |  |  | $ | 372 |  |  | $ | 1,969 |  |  | $ | 886 |
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES | Supplemental cash flow information related to leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES
(in thousands) |  | 2023 |  |  | 2022 |
|  | Nine Months Ended |
|  | September 30, |
(in thousands) |  | 2023 |  |  | 2022 |
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 1,813 |  |  |  | 938 |
Operating cash flows from finance leases |  |  | 1 |  |  |  | 2 |
Financing cash flows from finance leases |  |  | 19 |  |  |  | 20 |
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES | Supplemental balance sheet information related to leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES
|  | September 30, |  |  | December 31, |
(in thousands) |  | 2023 |  |  | 2022 |
Operating leases |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | $ | 14,223 |  |  | $ | 14,579 |
Current portion of operating lease liability |  |  | 2,432 |  |  |  | 1,846 |
Operating lease liability, net of current portion |  |  | 13,027 |  |  |  | 13,829 |
Total operating lease liabilities |  | $ | 15,459 |  |  | $ | 15,675 |
Finance leases |  |  |  |  |  |  |  |
Property and equipment, at cost |  | $ | 112 |  |  | $ | 112 |
Accumulated depreciation |  |  | (93 | ) |  |  | (80 | )
Property and equipment, net |  | $ | 19 |  |  | $ | 32 |
Current portion of finance lease obligations |  | $ | 2 |  |  | $ | 21 |
Finance lease obligations, net of current portion |  |  | - |  |  |  | - |
Total finance lease liabilities |  | $ | 2 |  |  | $ | 21 |
Weighted Average Remaining Lease Term |  |  |  |  |  |  |  |
Operating leases |  |  | 8.7 years |  |  |  | 9.6 years |
Finance leases |  |  | 0.1 years |  |  |  | 0.8 years |
Weighted Average Discount Rate |  |  |  |  |  |  |  |
Operating leases |  |  | 4.6 | % |  |  | 4.6 | %
Finance leases |  |  | 5.6 | % |  |  | 6.3 | %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES | As of September 30, 2023, maturities of lease liabilities were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES
(in thousands) |  | Operating |  |  | Finance |
Years Ended December 31, |  | leases |  |  | leases |
2023 |  | $ | 642 |  |  | $ | 2 |
2024 |  |  | 2,340 |  |  |  | - |
2025 |  |  | 2,003 |  |  |  | - |
2026 |  |  | 2,023 |  |  |  | - |
Thereafter |  |  | 11,631 |  |  |  | - |
Total minimum lease payments |  |  | 18,639 |  |  |  | 2 |
Less: amount representing interest |  |  | (3,180 | ) |  |  | - |
Present value of capital lease liabilities |  | $ | 15,459 |  |  | $ | 2 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (S-X 210.12-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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