RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

SCHEDULE OF RELATED PARTY TRANSACTIONS IN FINANCIAL STATEMENTS

The Company had the following transactions with related parties:

	Three Months Ended June 30,				Six Months Ended June 30,
(In Thousands)	2024		2023		2024		2023
Consolidated Statement of Operations
Rental income (1)	$	22	$	22	$	44	$	44
Professional fees (2)		-		41		-		63

	Balance as of
	June 30, 2024		December 31, 2023
Consolidated Balance Sheets
Preferred Stock (3)		1,719		1,719

(1) The Company has a contract with the majority shareholder and CEO to share certain costs related to office space, support staff, and consultancy services.

(2) The Company incurred professional expenses related to a former member of the Board of Directors for providing consulting services.

(3) As of June 30, 2024 and December 31, 2023, the Company had 26,726K shares outstanding of Series A Preferred Stock, representing an initial cost of $427K held by certain related parties including the spouse and in-laws to the Director of Marketing. As of June 30, 2024 and December 31, 2023, the Company had 5,884K shares outstanding of Series A-1 Preferred Stock, representing an initial cost of $372K held by certain related parties including the in-laws to the Director of Marketing and a former Director of the Company. As of June 30, 2024 and December 31, 2023, the Company had 12,834K Nonqualified Stock Options representing an initial grant date fair value of $920K held by certain related parties including the spouse to the Director of Marketing and a former Director of the Company. See Note 9 – Stockholders Equity.