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LEASES

12 Months Ended

Dec. 31, 2022

NOTE 4 LEASES

The components of lease cost for the Company’s leases were as follows (in thousands):

SCHEDULE OF COMPONENTS OF LEASE COST


	Twelve Months Ended December 31,
	2022		2021

Operating Leases:
Lease cost	$	627	$	499

Finance Leases:
Amortization of ROU assets		176		220
Interest on lease liability		37		97
Finance leases		213		317

Short-term lease rent expense		7		13

Total lease cost	$	847	$	829

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at December 31, 2022 were:

SCHEDULE OF WEIGHTED AVERAGE LEASE

	Operating Leases			Finance Leases
Weighted average remaining lease terms (years)		6.2			3.0

Weighted average discount rate		7.8	%		5.3	%

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at December 31, 2021 were:

	Operating Leases			Finance Leases
Weighted average remaining lease terms (years)		6.9			4.0

Weighted average discount rate		7.6	%		6.2	%

The following table reconciles the undiscounted cash flows for the operating and finance leases at December 31, 2022 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

	Operating Leases			Finance Leases
2023	$	556		$	174
2024		416			170
2025		325			149
2026		301			18
2027		286			—
2028 and thereafter		656			—
Total undiscounted lease payments		2,540			511
Less: Imputed interest		(540	)		(39	)
Present value of lease payments	$	2,000		$	472

Current portion of operating lease obligations	$	416		$	—
Long-term operating lease obligations, less current portion	$	1,584		$	—
Current portion of finance lease obligations	$	—		$	154
Long-term finance lease obligations, less current portion	$	—		$	318

Supplemental cash flow and other information related to our leases were as follows (in thousands):


	Twelve Months Ended December 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases	$	573	$	439
Operating cash flow from finance leases	$	37	$	97
Financing cash flow from finance leases	$	860	$	334

ROU assets obtained in exchange for lease obligations for:
Finance liabilities	$	147	$	577
Operating liabilities	$	—	$	491

Reduction to ROU assets resulitng from reassessment for
Finance liabilities	$	—	$	(364	)