COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2023

COMMITMENTS AND CONTINGENCIES

SCHEDULE OF FUTURE MINIMUM ANNUAL LEASE PAYMENTS FOR OPERATING LEASES

As of June 30, 2023, the future minimum annual lease payments under the operating leases were as follows (in thousands):

	Total Minimum
	Lease Payments
2023		$	162
2024			508
2025			242
Total operating lease payments			912
Less: Amount representing interest			(57)
Present value of net minimum lease payments		$	855

SCHEDULE OF SUPPLEMENTAL CASH FLOW

As the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the lease commencement date. The components of operating leases as of June 30, 2023 and as of December 31, 2022 were as follows (in thousands except lease term and discount rate):

	June 30,			December 31,
Operating lease liabilities:	2023			2022
Current		379			385
Non-current		476			705
Total lease liabilities	$	855		$	1,090
Weighted-average remaining lease term (in years)		2.0			2.4
Weighted-average incremental borrowing rate		6	%		6	%

Supplemental cash flow information related to cash paid for amounts included in the measurement of operating lease liabilities was as follows (in thousands):

	Six months ended June 30,
	2023		2022
Cash paid included in operating cash flows	$	246	$	113

SCHEDULE OF RENT EXPENSES

Rent expense was as follows (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Operating lease	$	111	$	92	$	221	$	142
Short-term lease		—		11		—		46
Total rent expense	$	111	$	103	$	221	$	188