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Leases | 12 Months Ended
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Dec. 28, 2024
Leases [Abstract] |
Leases | Leases In connection with its acquisition of ALT5 Subsidiary (see Note 3), the Company leases commercial office space. These assets and properties are leased under noncancelable agreements that expire at various future dates. The agreements, which have been classified as operating leases, provide for minimum rent and require the Company to pay all insurance, taxes, and other maintenance costs. As a result, the Company recognizes assets and liabilities for leases with lease terms greater than 12 months. The amounts recognized reflect the present value of remaining lease payments for all leases. The discount rate used is an estimate of the Company’s blended incremental borrowing rate based on information available associated with each subsidiary’s debt outstanding at lease commencement. In considering the lease asset value, the Company considers fixed and variable payment terms, prepayments and options to extend, terminate or purchase. Renewal, termination, or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. The following table details the Company’s right of use assets and lease liabilities as of December 28, 2024 and December 30, 2023 (in $000’s):
| December 28, 2024 |  | December 30, 2023
Right of use asset - operating leases | $ | 121 |  |  | $ | — |
Lease liabilities: |  |  |
Current - operating | 10 |  |  | — |
Long term - operating | 113 |  |  | — |
As of December 28, 2024, the weighted average remaining lease term for operating leases is 4.9 years. The Company’s weighted average discount rate for operating leases is 12.8%. No cash payments for operating leases were made during the years ended December 28, 2024 and December 30, 2023. Additionally, the Company recognized approximately $123,000 in right of use assets and liabilities upon commencement of operating leases during the year ended December 28, 2024. Total present value of future lease payments of operating leases as of September 28, 2024 (in $000’s):
Twelve months ended: |
2025 | $ | 27 |
2026 | 34 |
2027 | 36 |
2028 | 37 |
2029 | 36 |
Thereafter | — |
Total | 170 |
Less implied interest | (47) |
Present value of payments | $ | 123 |

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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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