LEASES (Tables)
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3 Months Ended |
12 Months Ended |
Mar. 31, 2024 |
Dec. 31, 2023 |
| Leases [Abstract] |
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| Schedule of right of use assets |
The condensed consolidated balance sheets include the following amounts for right-of-use (“ROU”) assets as of March 31, 2024, and December 31, 2023 (in thousands):
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March 31, |
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December 31, |
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2024 |
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2023 |
Operating |
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$ |
537 |
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$ |
616 |
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The consolidated balance sheets include the following amounts for ROU assets as of December 31, 2023 and 2022 (stated in thousands):
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December 31, |
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December 31, |
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2023 |
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2022 |
Operating |
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$ |
616 |
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$ |
672 |
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| Schedule of components of lease cost |
The following are the components of lease cost for operating and finance leases (in thousands). Finance lease costs are included in loss from discontinued operations in the consolidated statements of operations for the periods presented.
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Three Months Ended March 31, |
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2024 |
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2023 |
Lease cost: |
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Operating leases: |
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Amortization of ROU assets |
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$ |
95 |
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$ |
77 |
Interest on lease liabilities |
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17 |
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|
19 |
Total operating lease cost, included in general and administrative expenses |
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|
112 |
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|
96 |
Finance leases: |
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Amortization of ROU assets |
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— |
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|
77 |
Interest on lease liabilities |
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8 |
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|
14 |
Total finance lease cost, included in discontinued operations |
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8 |
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|
91 |
Total lease cost |
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$ |
120 |
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$ |
187 |
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The following are the components of lease cost for operating and finance leases (stated in thousands):
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Year Ended December 31, |
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2023 |
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2022 |
Lease cost: |
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Operating leases: |
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Amortization of ROU assets |
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$ |
252 |
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$ |
309 |
Interest on lease liabilities |
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|
73 |
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|
89 |
Total operating lease cost, included in general and administrative expenses |
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|
325 |
|
|
398 |
Finance leases: |
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Amortization of ROU assets |
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|
278 |
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|
449 |
Interest on lease liabilities |
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|
45 |
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|
81 |
Total finance lease cost, included in discontinued operations |
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|
323 |
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|
530 |
Total lease cost |
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$ |
648 |
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$ |
928 |
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| Schedule of weighted average lease terms and discount rates for operating and finance leases |
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As of |
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As of |
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March 31, 2024 |
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March 31, 2023 |
Weighted average remaining lease term (years): |
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Operating leases |
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1.0 |
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2.5 |
Finance leases |
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— |
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1.9 |
Weighted average discount rate (%): |
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Operating leases |
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9.9 |
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5.6 |
Finance leases |
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— |
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9.2 |
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As of |
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As of |
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December 31, 2023 |
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December 31, 2022 |
Weighted average remaining lease term (years): |
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Operating leases |
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3.6 |
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1.0 |
Finance leases |
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1.8 |
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1.4 |
Weighted average discount rate (%): |
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Operating leases |
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9.9 |
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10.0 |
Finance leases |
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8.0 |
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7.6 |
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| Schedule of future minimum lease payments and related lease liabilities of operating leases |
Future minimum lease payments and related lease liabilities as of March 31,2024, were as follows (in thousands):
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Total |
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Operating |
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Finance |
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Lease |
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Leases |
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Leases |
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Liabilities |
Remainder of 2024 |
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$ |
323 |
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$ |
— |
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$ |
323 |
2025 |
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|
352 |
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— |
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|
352 |
Total lease payments |
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|
675 |
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— |
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|
675 |
Less: imputed interest |
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|
52 |
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— |
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|
52 |
Present value of lease liabilities |
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|
623 |
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— |
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|
623 |
Less: current portion of lease liabilities |
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|
388 |
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— |
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|
388 |
Noncurrent lease liabilities |
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$ |
235 |
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$ |
— |
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$ |
235 |
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Future minimum lease payments and related lease liabilities as of December 31, 2023 were as follows (stated in thousands):
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Total |
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Operating |
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Finance |
|
Lease |
|
|
Leases |
|
Leases |
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Liabilities |
2024 |
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$ |
431 |
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$ |
268 |
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$ |
699 |
2025 |
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|
352 |
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|
153 |
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|
505 |
2026 |
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— |
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|
23 |
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|
23 |
Total lease payments |
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|
783 |
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|
444 |
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|
1,227 |
Less: imputed interest |
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|
69 |
|
|
32 |
|
|
101 |
Present value of lease liabilities |
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|
714 |
|
|
412 |
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|
1,126 |
Less: current portion of lease liabilities |
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|
377 |
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|
244 |
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|
621 |
Noncurrent lease liabilities |
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$ |
337 |
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$ |
168 |
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$ |
505 |
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| Schedule of future minimum lease payments and related lease liabilities of financing leases |
Future minimum lease payments and related lease liabilities as of March 31,2024, were as follows (in thousands):
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Total |
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Operating |
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Finance |
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Lease |
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|
Leases |
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Leases |
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Liabilities |
Remainder of 2024 |
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$ |
323 |
|
$ |
— |
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$ |
323 |
2025 |
|
|
352 |
|
|
— |
|
|
352 |
Total lease payments |
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|
675 |
|
|
— |
|
|
675 |
Less: imputed interest |
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|
52 |
|
|
— |
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|
52 |
Present value of lease liabilities |
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|
623 |
|
|
— |
|
|
623 |
Less: current portion of lease liabilities |
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|
388 |
|
|
— |
|
|
388 |
Noncurrent lease liabilities |
|
$ |
235 |
|
$ |
— |
|
$ |
235 |
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Future minimum lease payments and related lease liabilities as of December 31, 2023 were as follows (stated in thousands):
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Total |
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|
Operating |
|
Finance |
|
Lease |
|
|
Leases |
|
Leases |
|
Liabilities |
2024 |
|
$ |
431 |
|
$ |
268 |
|
$ |
699 |
2025 |
|
|
352 |
|
|
153 |
|
|
505 |
2026 |
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|
— |
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|
23 |
|
|
23 |
Total lease payments |
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|
783 |
|
|
444 |
|
|
1,227 |
Less: imputed interest |
|
|
69 |
|
|
32 |
|
|
101 |
Present value of lease liabilities |
|
|
714 |
|
|
412 |
|
|
1,126 |
Less: current portion of lease liabilities |
|
|
377 |
|
|
244 |
|
|
621 |
Noncurrent lease liabilities |
|
$ |
337 |
|
$ |
168 |
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$ |
505 |
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