Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.23.2
Leases
 6 Months Ended
Jun. 30, 2023
Leases  
Leases

Note 7 – Leases

 

The Company leases offices in Fort Lauderdale, Florida and Israel which expire in November 2024 and December 2023, respectively. The Company also leases vehicles under operating leases that expire at various dates through 2025.

 

The components of lease cost and supplemental balance sheet information for the Company’s lease portfolio were as follows:

 

    2023     2022     2023     2022  
    Three Months ended June 30,     Six Months ended June 30,  
    2023     2022     2023     2022  
Lease Cost                                
Operating lease cost, net of related party license fee   $ 2     $ 23     $ 18     $ 62  
Variable lease cost     39       30       64       60  
Total lease cost   $ 41     $ 53     $ 82     $ 122  

 

    As of
June 30, 2023		     As of
December 31, 2022		  
Assets                
Operating lease, right-of-use- asset   $ 332     $ 428  
Liabilities                
Current                
Operating lease liabilities   $ 243     $ 245  
Non-current                
Operating lease liabilities, net of current portion     79       178  
Total lease liabilities   $ 322     $ 423  
                 
Other information:                
Weighted average remaining lease term - operating leases     1.44 years       1.79 years  
Weighted-average discount rate - operating leases     7.30 %     7.36 %

 

The Company’s lease expense is included in general and administrative expenses which is net of the related party license fee of $60 for the three months ended June 30, 2023 and 2022, and $109 and $107 for the six months ended June 30, 2023 and 2022, respectively (see Note 10).