General form of registration statement for all companies including face-amount certificate companies

LEASES (Tables)

v3.24.2
LEASES (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
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):

    

March 31, 

December 31, 

2024

    

2023

Operating

 

$

537

 

$

616

The consolidated balance sheets include the following amounts for ROU assets as of December 31, 2023 and 2022 (stated in thousands):

    

December 31, 

December 31,

2023

    

2022

Operating

 

$

616

 

$

672

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.

Three Months Ended March 31, 

    

2024

    

2023

Lease cost:

Operating leases:

Amortization of ROU assets

$

95

$

77

Interest on lease liabilities

17

19

Total operating lease cost, included in general and administrative expenses

112

96

Finance leases:

Amortization of ROU assets

77

Interest on lease liabilities

8

14

Total finance lease cost, included in discontinued operations

8

91

Total lease cost

$

120

$

187

The following are the components of lease cost for operating and finance leases (stated in thousands):

    

Year Ended December 31, 

2023

    

2022

Lease cost:

Operating leases:

Amortization of ROU assets

$

252

$

309

Interest on lease liabilities

73

89

Total operating lease cost, included in general and administrative expenses

325

398

Finance leases:

Amortization of ROU assets

278

449

Interest on lease liabilities

45

81

Total finance lease cost, included in discontinued operations

323

530

Total lease cost

$

648

$

928

Schedule of weighted average lease terms and discount rates for operating and finance leases

As of

As of

    

March 31, 2024

    

March 31, 2023

Weighted average remaining lease term (years):

Operating leases

 

1.0

2.5

Finance leases

 

1.9

Weighted average discount rate (%):

Operating leases

 

9.9

5.6

Finance leases

 

9.2

As of

As of

    

December 31, 2023

     

December 31, 2022

Weighted average remaining lease term (years):

Operating leases

 

3.6

1.0

Finance leases

 

1.8

1.4

Weighted average discount rate (%):

Operating leases

 

9.9

10.0

Finance leases

 

8.0

7.6

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):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

Remainder of 2024

$

323

$

$

323

2025

 

352

 

 

352

Total lease payments

 

675

 

 

675

Less: imputed interest

 

52

 

 

52

Present value of lease liabilities

623

623

Less: current portion of lease liabilities

 

388

 

 

388

Noncurrent lease liabilities

$

235

$

$

235

Future minimum lease payments and related lease liabilities as of December 31, 2023 were as follows (stated in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

2024

$

431

$

268

$

699

2025

 

352

 

153

 

505

2026

 

 

23

 

23

Total lease payments

 

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

$

505

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):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

Remainder of 2024

$

323

$

$

323

2025

 

352

 

 

352

Total lease payments

 

675

 

 

675

Less: imputed interest

 

52

 

 

52

Present value of lease liabilities

623

623

Less: current portion of lease liabilities

 

388

 

 

388

Noncurrent lease liabilities

$

235

$

$

235

Future minimum lease payments and related lease liabilities as of December 31, 2023 were as follows (stated in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

2024

$

431

$

268

$

699

2025

 

352

 

153

 

505

2026

 

 

23

 

23

Total lease payments

 

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

$

505