Leases

12 Months Ended

Dec. 31, 2023

Leases

Leases

3. Leases. As of December 31, 2023, the Company leased space from a related party under a non-cancelable operating lease for its corporate headquarters. The lease has monthly payments of $375 through September 30, 2025. The lease does not include a renewal option.

The amounts included in “Other” below relate to an office lease that was terminated on September 30, 2023. The cost components in continuing operations of the Company’s operating leases were as follows:

	Year ended December 31, 2023						Year ended December 31, 2022
	Corporate
	Headquarters		Other		Total		Operating Leases - Other
Operating lease cost	$	1,000	$	4,000	$	5,000	$	14,000
Short-term lease costs		2,000		10,000		12,000		-
Total	$	3,000	$	14,000	$	17,000	$	14,000

Maturities of the Company’s lease liabilities for its corporate headquarters and its warehouse operating leases were as follows as of December 31, 2023:

2024	$	5,000
2025		3,000
Total lease payments	$	8,000
Less:  Interest		(1,000	)
Present value of lease liabilities	$	7,000

The Company used its incremental borrowing rate of approximately 6.0% in determining the present value of the lease payments based on the information available at the lease commencement date.

The remaining lease term as of December 31, 2023 for the Company’s corporate headquarters is 1.8 years. The cash outflow for operating leases including discontinued operations for the years ended December 31, 2023 and 2022 were $28,000 and $28,000, respectively.