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COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | 9. COMMITMENTS AND CONTINGENCIES Leases The Company leases certain offices, facilities and equipment under operating and financing leases. Our leases have remaining terms ranging from less than 1 year to 5 years some of which contain options to extend up to 5 years. As of December 31, 2022 and 2021, assets recorded under finance leases were $1.3 million and $1.6 million, respectively, and accumulated amortization associated with finance leases were $534 and $1.1 million, respectively. As of December 31, 2022 and 2021, assets recorded under operating leases were $2.2 million and $3.9 million, respectively, and accumulated amortization associated with operating leases were $798 and $2.3 million, respectively. During the fourth quarter of 2022, the Company executed an extension of its operating lease for the corporate management and sales office in Fort Lee, New Jersey. After adjusting for a weighted average discount rate, the Company recognized a right-of-use asset and lease liability of approximately $275 within the consolidated balance sheets. The components of the lease expense were as follows: SCHEDULE OF LEASE EXPENSES
|  | 2022 |  |  | 2021 |
|  | Year Ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 752 |  |  | $ | 641 |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of right-of-use asset |  | $ | 238 |  |  | $ | 285 |
Interest on lease liabilities |  |  | 44 |  |  |  | 41 |
Total finance lease cost |  | $ | 282 |  |  | $ | 326 |
Other information related to leases was as follows: Supplemental cash flows information: SCHEDULE OF CASH FLOWS INFORMATION
|  | 2022 |  |  | 2021 |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flow payments for operating leases |  | $ | 742 |  |  | $ | 632 |
Operating cash flow payments for finance leases |  |  | 44 |  |  |  | 41 |
Financing cash flow payments for finance leases |  |  | 241 |  |  |  | 292 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |  |  |
Operating lease liabilities arising from obtaining right of use assets |  |  | 440 |  |  |  | 1,418 |
Capitalized lease obligations |  |  | 401 |  |  |  | 180 |
Weighted average remaining lease term:
|  |  | December 31, |
|  |  | 2022 |  |  |  | 2021 |
Operating leases |  |  | 2 years |  |  |  | 3 years |
Finance leases |  |  | 2 years |  |  |  | 2 years |
Weighted average discount rate:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Operating leases |  |  | 5.50 | % |  |  | 5.50 | %
Finance leases |  |  | 6.73 | % |  |  | 6.69 | %
Future minimum lease payments under non-cancellable leases as of December 31, 2022 were as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS
|  | Operating |  |  | Finance |
|  | Leases |  |  | Leases |
2023 |  | $ | 774 |  |  | $ | 397 |
2024 |  |  | 613 |  |  |  | 166 |
2025 |  |  | 200 |  |  |  | 174 |
2026 |  |  | 24 |  |  |  | 88 |
Thereafter |  |  | - |  |  |  | 41 |
Total future minimum lease payments |  |  | 1,611 |  |  |  | 866 |
Less imputed interest |  |  | (111 | ) |  |  | (93 | )
Total future minimum lease payments |  | $ | 1,500 |  |  | $ | 773 |
Reported as of December 31, 2022: SCHEDULE OF LEASE REPORTED
|  | Operating |  |  | Finance |
|  | Leases |  |  | Leases |
Right-of-use assets |  | $ | 1,450 |  |  | $ | 727 |
|  | Operating |  |  | Finance |
|  | Leases |  |  | Leases |
Accounts payable and accrued liabilities |  | $ | 703 |  |  | $ | 355 |
Other long-term liabilities |  |  | 797 |  |  |  | 418 |
Total |  | $ | 1,500 |  |  | $ | 773 |
Litigation and Claims As of the date hereof, we are not aware of or a party to any legal proceedings to which we or any of our subsidiaries is a party or to which any of our property is subject, nor are we aware of any such threatened or pending litigation or any such proceedings known to be contemplated by governmental authorities that we believe could have a material adverse effect on our business, financial condition or operating results. We are not aware of any material proceedings in which any of our directors, officers or affiliates or any registered or beneficial shareholder of more than 5% of our common stock is an adverse party or has a material interest adverse to our interest.

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