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LEASES (Tables)
 3 Months Ended
Mar. 31, 2023
Leases  
SCHEDULE OF COMPONENTS OF LEASE COST

Operating lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following:

 

(in thousands)  2023   2022 
   For the Three Months Ended March 31, 
(in thousands)  2023   2022 
Operating leases          
Operating lease cost  $112   $26 
Operating lease expense   112    26 
Short-term lease rent expense   9    7 
Variable lease cost   2,773    — 
Total rent expense  $2,894   $33 
SUMMARY OF MINIMUM LEASE PAYMENTS

Additional information regarding the Company’s leasing activities as a lessee is as follows:

 

   For the Three Months Ended March 31, 
(in thousands, except term and discount rate data)  2023   2022 
Operating cash flows from operating leases  $(2)  $17 
Weighted-average remaining lease term – operating leases   3.5    4.7 
Weighted-average discount rate – operating leases   5%   5%
SCHEDULE OF LEASE LIABILITY MATURITY

      
Year 

Amount

(in thousands)

 
2023 (remaining)  $346 
2024   362 
2025   312 
2026   241 
2027   102 
Thereafter   — 
Total  $1,363