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LEASES

12 Months Ended

Dec. 31, 2024

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

	2024		2023
	Twelve Months Ended December 31,
	2024		2023

Operating Leases:
Lease cost	$	541	$	612

Finance Leases:
Amortization of ROU assets		261		163
Interest on lease liability		81		33
Finance lease		342		196

Short-term lease rent expense		6		2

Total lease cost	$	889	$	810

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases as of December 31, 2024, were:

SCHEDULE OF WEIGHTED AVERAGE LEASE

	Operating Leases			Finance Leases
Weighted average remaining lease terms (years)		4.7			3.8

Weighted average discount rate		7.7	%		9.2	%

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases as of December 31, 2023, were:

	Operating Leases			Finance Leases
Weighted average remaining lease terms (years)		5.6			4.5

Weighted average discount rate		7.5	%		8.7	%

The following table reconciles the undiscounted cash flows for the operating and finance leases as of December 31, 2024, to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

	Operating Leases			Finance Leases
2025	$	486		$	345
2026		479			191
2027		447			157
2028		343			134
2029		334			102
2030 and thereafter		73			—
Total undiscounted lease payments		2,162			929
Less: Imputed interest		(390	)		(153	)
Present value of lease payments	$	1,772		$	776

Current portion of operating lease obligations	$	345		$	—
Long-term operating lease obligations, less current portion	$	1,427		$	—
Current portion of finance lease obligations	$	—		$	285
Long-term finance lease obligations, less current portion	$	—		$	491

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

	2024		2023
	Twelve Months Ended December 31,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases	$	526	$	582
Operating cash flow from finance leases	$	81	$	33
Financing cash flow from finance leases	$	291	$	189

ROU assets obtained in exchange for lease obligations for:
Finance liabilities	$	—	$	786
Operating liabilities	$	497	$	466

Reduction to ROU assets resulting from purchase of underlying asset:
Operating liabilities	$	404	$	—
Reduction to ROU assets resulting from purchase of underlying asset, Operating liabilities	$	404	$	—

The reduction in ROU asset resulted from the purchase by the Company in July 2024 of the property where its EWOC facility conducts its waste treatment operations. The Company previously leased this property which was included within its operating leases (see “Note 9 – Long Term Debt” for a discussion of the purchase of this property by the Company).