Cash, Cash Equivalents, and Restricted Cash

12 Months Ended

Dec. 31, 2022

Cash, Cash Equivalents, and Restricted Cash [Abstract]

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

NOTE 7 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

Cash, cash equivalents and restricted cash consisted of the following as of December 31, 2022 and 2021:

	December 31,
(Amounts in thousands)	2022		2021
Cash and cash equivalents	$	1,868	$	1,596
Restricted cash		-		277
Total	$	1,868	$	1,873

Cash, cash equivalents, and restricted cash are represented by operating accounts or money market accounts maintained with insured financial institutions, including cash equivalents, defined as all short-term, highly-liquid investments with maturities of three months or less when purchased. The Company had no cash equivalents as of December 31, 2022 and December 31, 2021, respectively. During the year ended December 31, 2022, $195,000 of restricted cash was released upon the sale of a building (see Note 11 – Property and Equipment, Net for additional information related to the sale of the building). The remaining $47,000 was released upon the abandonment of overseas equipment leases and $35,000 was reclassified to assets held for sale (see Note 3 – Discontinued Operations and Assets and Liabilities Held for Sale – Sky Sapience Ltd. for information on the sale of Sky Sapience).