Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.23.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
SCHEDULE OF LEASE EXPENSE

The components of lease expense were as follows:

  

    2023     2022     2023     2022  
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2023     2022     2023     2022  
    ($ in thousands)  
Operating lease cost   $           599     $   921     $ 1,998     $ 2,798  
Short-term lease cost     -       4       -       79  
Variable lease cost     7       5       26       24  
Total - net lease cost   $ 606     $ 930     $ 2,024     $ 2,901  

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

Supplemental balance sheet information related to leases is as follows:

  

    September 30, 2023     December 31, 2022  
    ($ in thousands)  
Operating leases:                
Operating lease ROU assets, net   $ 4,491     $ 4,921  
                 
Current operating lease liabilities   $ 1,810     $ 2,273  
Non-current operating lease liabilities     2,789       3,207  
Total operating lease liabilities   $ 4,599     $ 5,480  
                 
Operating leases:                
ROU assets   $ 6,172     $ 8,293  
Asset lease expense     (1,618 )     (3,286 )
Foreign exchange loss     (63 )     (86 )
ROU assets, net   $ 4,491     $ 4,921  
                 
Weighted average remaining lease term (in years):                
Operating leases     4.5       5.1  
Weighted average discount rate:                
Operating leases     12.8 %     7.9 %
SCHEDULE OF SUPPLEMENTAL CASH FLOW AND OTHER INFORMATION RELATED TO LEASES

Supplemental cash flow and other information related to leases is as follows:

  

    2023     2022     2023     2022  
   

Three Months Ended

September 30,

    

Nine Months Ended

September 30,

  
    2023     2022     2023     2022  
    ($ in thousands)  
Cash paid for amounts included in the measurement of lease liabilities:                                
Operating cash flows from operating leases   $ 802     $ 1,228     $ 2,463     $ 3,598  
                                 
ROU assets obtained in exchange for lease liabilities:                                
Operating leases, excluding impairments and terminations   $ 532     $ 71     $ 1,252     $ 513  
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities are as follows:

  

Operating leases - Years ending December 31,   ($ in thousands)  
2023 (three months)   $ 708  
2024     1,998  
2025     1,263  
2026     501  
2027     374  
Thereafter     1,718  
Total lease payments     6,562  
Less: imputed interest     (1,963 )
Total lease obligations     4,599  
Less: current obligations     (1,810 )
Long-term lease obligations   $ 2,789