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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:
Schedule
of Lease Cost and Supplemental Balance Sheet Information
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
Three Months ended September 30,
|
|
|
Nine Months ended September 30,
|
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Lease Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating lease (income) cost, net of related party license fee |
|
$ |
(36 |
) |
|
$ |
16 |
|
|
$ |
(18 |
) |
|
$ |
78 |
|
| Variable lease cost |
|
|
103 |
|
|
|
30 |
|
|
|
167 |
|
|
|
90 |
|
| Total lease cost |
|
$ |
67 |
|
|
$ |
46 |
|
|
$ |
149 |
|
|
$ |
168 |
|
| |
|
As of September 30,
|
|
|
As of December 31,
|
|
| |
|
2023 |
|
|
2022 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease, right-of-use-asset |
|
$ |
261 |
|
|
$ |
428 |
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating lease liabilities |
|
$ |
220 |
|
|
$ |
245 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating lease liabilities, net of current portion |
|
|
34 |
|
|
|
178 |
|
| Total lease liabilities |
|
$ |
254 |
|
|
$ |
423 |
|
| |
|
|
|
|
|
|
|
|
| Other information: |
|
|
|
|
|
|
|
|
| Weighted average remaining lease term - operating leases |
|
|
1.36 years |
|
|
|
1.79 years |
|
| Weighted-average discount rate - operating leases |
|
|
7.33 |
% |
|
|
7.36 |
% |
The
Company’s lease expense is included in general and administrative expenses which is net of related party license fee of $67 and
$66 for the three months ended September 30, 2023 and 2022, and $202 and $173 for the nine months ended September 30, 2023 and 2022.
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