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COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES.  
SCHEDULE OF FUTURE MINIMUM ANNUAL LEASE PAYMENTS FOR OPERATING LEASES

As of December 31, 2022, the future minimum annual lease payments under the operating leases were as follows (in thousands):

Total Minimum

Lease Payments

2023

    

$

426

2024

 

508

2025

 

242

Total operating lease payments

 

1,176

Less: Amount representing interest

 

(86)

Present value of net minimum lease payments

$

1,090

The components of operating leases for the years ended December 31, 2022 and December 31, 2021 were as follows (in thousands except lease term and discount rate):

As of December 31, 

Operating lease liabilities:

2022

    

2021

Current

385

192

Non-current

705

382

Total lease liabilities

$

1,090

$

574

Weighted-average remaining lease term (in years)

 

2.4

 

3.0

Weighted-average incremental borrowing rate

 

6

%

 

6

%