Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

LEASES

NOTE 13 LEASES 

Operating Leases

The Company has operating leases for office, manufacturing and warehouse space, along with office equipment. Balances as of June 30, 2023 and December 31, 2022 for operating leases were as follows:

	June 30,		December 31,
(Amounts in thousands)	2023		2022
Operating lease ROU assets	$	90	$	97
Operating lease liability	$	11,127	$	11,137

Other information related to the Company’s operating leases are as follows:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2023		2022		2023		2022
Operating lease cost	$	488	$	535	$	976	$	1,088
Short-term lease cost	$	31	$	19	$	31	$	28
Right-of-use assets obtained in exchange for lease obligations Operating leases	$	25	$	-	$	25	$	10,052
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	437	$	24	$	900	$	517

The following table presents the weighted-average remaining lease term and weighted average discount rates related to the Company’s operating leases as of June 30, 2023 and December 31, 2022:

	June 30,			December 31,
	2023			2022
Weighted average remaining lease term (years)		7.54			7.90
Weighted average discount rate		5.50	%		5.52	%

The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the lease liabilities recorded on the condensed consolidated balance sheet as of June 30, 2023:

	Operating
(Amounts in thousands)	Leases
2023	$	911
2024		1,720
2025		1,625
2026		1,386
2027		1,424
Thereafter		6,862
Total minimum lease payments		13,928
Less: effect of discounting		(2,801	)
Present value of future minimum lease payments		11,127
Less: current obligations under leases		(1,600	)
Long-term lease obligations	$	9,527