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LEASES | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases |
LEASES | NOTE 4 LEASES The components of lease cost for the Company’s leases were as follows (in thousands): SCHEDULE OF COMPONENTS OF LEASE COST
|  | 2023 |  |  | 2022 |
|  | Twelve Months Ended December 31, |
|  | 2023 |  |  | 2022 |
Operating Leases: |  |  |  |  |  |  |  |
Lease cost |  | $ | 612 |  |  | $ | 627 |
Finance Leases: |  |  |  |  |  |  |  |
Amortization of ROU assets |  |  | 163 |  |  |  | 176 |
Interest on lease liability |  |  | 33 |  |  |  | 37 |
Finance lease |  |  | 196 |  |  |  | 213 |
Short-term lease rent expense |  |  | 2 |  |  |  | 7 |
Total lease cost |  | $ | 810 |  |  | $ | 847 |
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at December 31, 2023, were: SCHEDULE OF WEIGHTED AVERAGE LEASE
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 5.6 |  |  |  | 4.5 |
Weighted average discount rate |  |  | 7.5 | % |  |  | 8.7 | %
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at December 31, 2022, were:
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 6.2 |  |  |  | 3.0 |
Weighted average discount rate |  |  | 7.8 | % |  |  | 5.3 | %
The following table reconciles the undiscounted cash flows for the operating and finance leases as of December 31, 2023, to the operating and finance lease liabilities recorded on the balance sheet (in thousands): SCHEDULE OF OPERATING AND FINANCE LEASE LIABILITY MATURITY
|  | Operating Leases |  |  | Finance Leases |
2024 |  | $ | 520 |  |  | $ | 372 |
2025 |  |  | 433 |  |  |  | 345 |
2026 |  |  | 416 |  |  |  | 192 |
2027 |  |  | 406 |  |  |  | 157 |
2028 |  |  | 383 |  |  |  | 134 |
2029 and thereafter |  |  | 366 |  |  |  | 102 |
Total undiscounted lease payments |  |  | 2,524 |  |  |  | 1,302 |
Less: Imputed interest |  |  | (474 | ) |  |  | (235 | )
Present value of lease payments |  | $ | 2,050 |  |  | $ | 1,067 |
Current portion of operating lease obligations |  | $ | 380 |  |  | $ | — |
Long-term operating lease obligations, less current portion |  | $ | 1,670 |  |  | $ | — |
Current portion of finance lease obligations |  | $ | — |  |  | $ | 291 |
Long-term finance lease obligations, less current portion |  | $ | — |  |  | $ | 776 |
Supplemental cash flow and other information related to our leases were as follows (in thousands): SCHEDULE OF SUPPLEMENTAL CASH FLOW AND OTHER INFORMATION RELATED TO LEASES
|  | Twelve Months Ended December 31, |  |  | Twelve Months Ended December 31, |
|  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flow from operating leases |  | $ | 582 |  |  | $ | 573 |
Operating cash flow from finance leases |  | $ | 32 |  |  | $ | 37 |
Financing cash flow from finance leases |  | $ | 189 |  |  | $ | 860 |
ROU assets obtained in exchange for lease obligations for: |  |  |  |  |  |  |  |
Finance liabilities |  | $ | 786 |  |  | $ | 147 |
Operating liabilities |  | $ | 466 |  |  | $ | — |

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