OPERATING LEASES (Tables)

9 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Operating Leases

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES

Supplemental balance sheet information related to leases as of September 30, 2024 and December 31, 2023 is as follows:

Assets:	September 30, 2024		December 31, 2023
Operating lease - right-of-use assets	$	137,000	$	3,926,000
Liabilities
Current
Current portion of operating leases	$	135,000	$	84,000
Operating lease liabilities, net of current portion	$	-	$	3,925,000

Supplemental balance sheet information related to leases as of December 31, 2023 and March 31, 2023 is as follows:

	December 31, 2023		March 31, 2023
Assets:
Operating lease - right-of-use assets	$	3,926,000	$	561,000
Liabilities
Current portion of operating leases	$	84,000	$	509,000
Operating lease liabilities, net of current portion	$	3,925,000	$	88,000

SCHEDULE OF LEASE TERM AND DISCOUNT RATE

Supplemental statement of operations information related to operating leases is as follows:

	Three Months Ended September 30, 2024			Three Months Ended September 30, 2023			Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Operating lease expense as a component of general and administrative expenses	$	45,000		$	279,000		$	444,000	$	762,000
Supplemental cash flow information related to operating leases is as follows:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow paid for operating leases	$	45,000		$	363,000		$	136,000	$	868,000
Lease term and Discount Rate
Weighted average remaining lease term (years)		0.8			15.1
Weighted average discount rate		9.0	%		12.0	%

Supplemental statement of operations information related to leases for the nine months ended December 31, 2023 and fiscal year ended March 31, 2023 is as follows:

	Nine Months Ended			Fiscal Year Ended
	December 31 2023			March 31, 2023
Operating lease expense as a component of general and administrative expenses	$	717,000		$	1,058,000
Supplemental cash flow information related to leases for the nine months ended December 31, 2023 and fiscal year ended March 31, 2023 is as follows:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow paid for operating leases	$	858,000		$	960,000
Lease term and Discount Rate
Weighted average remaining lease term (months)
Operating leases		15.0			12.4
Weighted average discount rate
Operating leases		12.0	%		6.5	%

SCHEDULE OF OPERATING LEASE MINIMUM FUTURE PAYMENTS

Minimum future payments under all operating leases as of September 30, 2024, are as follows:

Payments due by period	Amount
2024 (remaining six months)	$	46,000
2025		94,000
Total minimum future payments		140,000
Less: Interest		5,000
Total operating lease liabilities	$	135,000

Minimum future payments under all operating leases as of December 31, 2023, are as follows:

Payments due by period	Amount
2024	$	269,000
2025		355,000
2026		529,000
2027		585,000
2028		610,000
Thereafter		7,555,000
Total minimum future payments		9,903,000
Less: interest		5,894,000
Total operating lease liabilities	$	4,009,000
Less: current portion of lease liabilities		84,000
Operating lease liabilities, net of current portion	$	3,925,000