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Operating Leases | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2024 | Dec. 31, 2023
Operating Leases [Abstract] |  |
Operating Leases | Note 7. Operating Leases As of September 30, 2024, the Company has use of space in three different locations, Hoboken, NJ, Tempe, AZ, and Arlington, VA, under lease or membership agreements, which expire at various dates through November 30, 2028. The Company’s leases do not provide an implicit rate, and the rates implicit in our leases are not readily determinable. Therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease assets and liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company’s leases all contain options to extend or renew the lease or membership term. The table below reconciles the undiscounted future minimum lease payments under these operating leases to the total operating lease liabilities recognized on the consolidated balance sheet as of September 30, 2024 (in thousands):
Year |  | Lease Payments Due |
2024 (remaining three months) |  | $ | 88 |
2025 |  |  | 437 |
2026 |  |  | 591 |
2027 |  |  | 515 |
2028 |  |  | 212 |
Total minimum payments |  |  | 1,843 |
Less: imputed interest |  |  | (161 | )
Present value of operating lease liabilities |  |  | 1,682 |
Less: current portion included in other current liabilities |  |  | (385 | )
Long-term operating lease liabilities |  | $ | 1,297 |
Other information related to operating lease liabilities consists of the following (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cash paid for operating lease liabilities (in thousands) |  | $ | 117 |  |  | $ | 92 |  |  | $ | 274 |  |  | $ | 214 |
Weighted average remaining lease term in years |  |  | 3.5 |  |  |  | 3.9 |  |  |  | 3.5 |  |  |  | 3.9 |
Weighted average discount rate |  |  | 10 | % |  |  | 10 | % |  |  | 10 | % |  |  | 10 | %
| Note 14 – Operating Leases: The Company has use of space in five different locations, Hoboken, NJ, Tempe, AZ, Leesburg, VA, Arlington, VA, and Minneapolis, MN, under lease or membership agreements, which expire at various dates through October 31, 2028. The Company’s leases do not provide an implicit rate, and the rates implicit in our leases are not readily determinable. Therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease assets and liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. The Company’s leases all contain options to extend or renew the lease or membership term. The table below reconciles the undiscounted future minimum lease payments under these operating leases to the total operating lease liabilities recognized on the consolidate balance sheet as of December 31, 2023 (in thousands):
Year |  | Lease Payments Due |
2024 |  | $ | 383 |
2025 |  |  | 576 |
2026 |  |  | 592 |
2027 |  |  | 516 |
2028 |  |  | 191 |
Total minimum payments |  |  | 2,258 |
Less: imputed Interest |  |  | (1,298 | )
Present value of operating lease liabilities |  |  | 960 |
Less: current portion included in other current liabilities |  |  | (120 | )
Long-term operating lease liabilities |  |  | 840 |
Other information related to operating lease liabilities consists of the following:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Cash paid for operating lease liabilities (in thousands) |  | $ | 411 |  |  | $ | 125 |
Weighted average remaining lease term in years |  |  | 3.7 |  |  |  | 4.7 |
Weighted average discount rate |  |  | 10 | % |  |  | 10 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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