Annual report pursuant to Section 13 and 15(d)

OPERATING LEASES (Tables)

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OPERATING LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Operating Leases  
SCHEDULE OF RENT EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION

The components of rent expense and supplemental cash flow information related to leases for the period are as follows:

 

    Years Ended December 31,  
    2021     2020  
Lease Cost (in thousands)                
Operating lease cost (of which $98 is included in general and administration and $601 is included in cost of sales in the Company’s statement of operations as of December 31, 2021, and $98 is included in general and administration and $601 is included in cost of sales in the Company’s statement of operations as of December 31, 2020)   $ 699     $ 699  
                 
Other Information                
Weighted average remaining lease term – operating leases (in years)     1.4       2.4  
Average discount rate – operating leases     3.75 %     3.75 %
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION

The supplemental balance sheet information related to leases for the period is as follows:

 

    At December 31,
2021		     At December 31,
2020		  
Operating leases (in thousands)                
Long-term right-of-use assets, net of accumulated amortization of $990 and $1,265, respectively   $ 914     $ 1,563  
                 
Current portion of operating lease liabilities   $ 721     $ 670  
Noncurrent portion of operating lease liabilities     268       990  
Total operating lease liabilities   $ 989     $ 1,660  
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of the Company’s lease liabilities are as follows:

 

Year Ending (in thousands)   Operating Leases  
2022   $ 747  
2023     280  
Total lease payments     1,027  
Less: Imputed interest/present value discount     (38 )
Present value of lease liabilities   $ 989