LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

SCHEDULE OF COMPONENTS OF LEASE COST

Operating lease costs are recorded on a straight-line basis within operating expenses. The Company’s total lease expense is comprised of the following:

	For the year ended December 31,
(in thousands)	2023		2022		2021
Operating leases
Operating lease cost	$	315	$	327	$	—
Operating lease expense	315		327		—
Short-term lease rent expense	36		29		31
Variable lease cost	80,108		—		—
Total rent expense	$	80,459	$	356	$	31

SUMMARY OF MINIMUM LEASE PAYMENTS

Additional information regarding the Company’s leasing activities is as follows:

	For the year ended December 31,
	2023			2022			2021
Operating cash flows from operating leases	$	(32)		$	67		$	—
Weighted-average remaining lease term – operating leases	3.2			3.9			0
Weighted-average discount rate – operating leases	5		%	5		%	—		%

SCHEDULE OF LEASE LIABILITY MATURITY

The following table presents the Company’s future minimum operating lease payments as of December 31, 2023:

Year	Amount (in thousands)
2024	$	166
2025	143
2026	147
2027	63
2028	—
Thereafter	—
Total	519
Less: Imputed interest	(41)
Present value of lease liability	$	478