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COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2024

COMMITMENTS AND CONTINGENCIES

SCHEDULE OF FUTURE MINIMUM ANNUAL LEASE PAYMENTS FOR OPERATING LEASES

As of December 31, 2024, the future minimum annual lease payments under the operating leases were as follows (in thousands):

​	​	​	​	​
​	​	Total Minimum		​
​	​	Lease Payments		​
2025		$	429	​
Total operating lease payments	​		429	​
Less: Amount representing interest	​		(12)	​
Present value of net minimum lease payments	​	$	417	​

SCHEDULE OF COMPONENTS OF OPERATING LEASES

As the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the lease commencement date. The components of operating leases for the years ended December 31, 2024 and December 31, 2023 were as follows (in thousands except lease term and discount rate):

​	​	​	​	​	​	​	​
​	​	December 31,		​	December 31,		​
Operating lease liabilities:	​	2024			2023		​
Current	​	​	417	​	​	420	​
Non-current	​	​	—	​	​	255	​
Total lease liabilities	​	$	417	​	$	675	​
Weighted-average remaining lease term (in years)	​		0.8	​		1.5	​
Weighted-average incremental borrowing rate	​		6.4	%		6.0	%

SCHEDULE OF SUPPLEMENTAL CASH FLOW

Supplemental cash flow information related to cash paid for amounts included in the measurement of operating lease liabilities was as follows (in thousands):

​

​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2024			2023
Cash paid included in operating cash flows	​	$	507	​	$	442	​

SCHEDULE OF OPERATING LEASE EXPENSE

Rent expense was as follows (in thousands):

​

​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2024			2023
Operating lease	​	$	458	​	$	464	​
Short-term lease	​		165	​		—	​
Total rent expense	​	$	623	​	$	464	​

​

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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

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

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-Topic 840
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
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