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Leases | 3 Months Ended
--- | ---
Mar. 31, 2025
Leases |
Leases | 4. Leases The Company has a real estate lease for the use of office space. The table below presents supplemental information related to the operating lease: Schedule of Supplemental Information Related to Operating Leases
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Operating lease costs during the period (1) |  | $ | 141 |  |  | $ | 9 |
Cash payments included in the measurement of operating lease liabilities during the period (2) |  | $ | - |  |  | $ | 121 |
Operating lease liability arising from obtaining lease right-of-use assets during the period |  | $ | - |  |  | $ | - |
Weighted-average remaining lease term (in years) as of period-end |  |  | 5.67 |  |  |  | 0.50 |
Weighted-average discount rate during the period |  |  | 10.9 | % |  |  | 9.9 | %
(1) | Operating lease costs is presented net of sublease income that is not material for the three months ended March 31, 2024.
(2) | There were no cash payments included in the measure of operating lease liabilities during the period for the three months ended March 31, 2025 since the Company has a deferral period through January 2026 before any cash payments are required under a lease with an effective date of April 1, 2024 with an initial lease term of 6.67 years.
The Company utilizes its incremental borrowing rates on a collateralized basis, reflecting the Company’s credit quality and the term of the lease at the commencement of the lease in determining the present value of future payments since the implicit rate for the Company’s leases is not readily determinable. Variable lease expense includes rental increases that are not fixed, such as those based on amounts paid to the lessor based on cost or consumption, such as maintenance and utilities. The components of operating lease costs were as follows: Schedule of Operating Lease Costs
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Operating lease costs included in: |  |  |  |  |  |  |  |
General and administrative |  | $ | 141 |  |  | $ | 134 |
Total operating lease costs |  |  | 141 |  |  |  | 134 |
Sublease income |  |  | - |  |  |  | (125 | )
Total operating lease costs |  | $ | 141 |  |  | $ | 9 |
Maturities of the operating lease liabilities as of March 31, 2025 are summarized as follows: Schedule of Maturity of Lease Liabilities
Years Ending December 31, |  |  |
2025 (remaining months in the year) |  | $ | - |
2026 |  |  | 652 |
2027 |  |  | 652 |
2028 |  |  | 652 |
2029 |  |  | 652 |
Thereafter |  |  | 597 |
Minimum lease payments |  |  | 3,205 |
Less imputed interest |  |  | (926 | )
Present value of operating lease liabilities |  | $ | 2,279 |
Current portion of operating lease liabilities |  | $ | 97 |
Long term portion of operating lease liabilities |  |  | 2,182 |
Total operating lease liabilities |  | $ | 2,279 |

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- References No definition available. + Details
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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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