LEASES (Tables)

3 Months Ended

Mar. 31, 2024

LEASES [Abstract]

Rent Expense for All Operating Leases Except Those with Terms of 12 Months or Less

Rent expense for all operating leases, except those with terms of 12 months or less comprises:

	(in thousands)
	Three Months Ended			Three Months Ended
	March 31, 2024			March 31, 2023
Minimum rentals		$	4		$	2
Contingent rentals			–			–
		$	4		$	2

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows:

	(in thousands)
	Three Months Ended			Three Months Ended
	March 31, 2024			March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	4	$	2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	504	$	502

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

	(in thousands, except lease term and discount rate)
	March 31, 2024			December 31, 2023
Operating Leases:
Operating lease right-of-use assets	$	504		$	506
Other current liabilities	$	9			9
Operating lease liabilities		501			503
Total operating lease liabilities	$	510		$	512
Weighted Average Remaining Lease Term
Operating leases	57 years			58 years
Weighted Average Discount Rate
Operating leases		5.0	%		5.0	%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities that have initial or remaining non-cancelable lease terms in excess of one year as of March 31, 2024 are as follows:

	(in thousands)
	Operating Leases
Year
2024	$	35
2025		35
2026		35
2027		35
2028		27
Thereafter		1,427
Total undiscounted lease payments	$	1,594
Less effects of discounting		(1,084	)
Total lease liabilities recognized	$	510