v3.26.1
COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Costs
For the years ended December 31, 2025 and 2024, the Company had expenses related to its operating leases as follows:
(in thousands)Statements of OperationsFor The Year Ended
December 31,
Lease CostClassification20252024
Operating lease costGeneral and administrative expense$377 $336 
Variable lease costGeneral and administrative expense189 170 
Total operating lease cost$566 $506 
Schedule of Operating and Finance Leases
As of December 31, 2025, maturities of the Company’s operating leases are as follows:
(in thousands)
Maturity of lease liabilities
Operating Leases
2026$178 
202712 
Total future minimum lease payments190 
Less: interest(4)
Present value of lease liabilities$186 
Schedule of Operating and Financing Lease – Supplemental Information
For the years ended December 31, 2025 and 2024, supplemental information related to the Company’s operating lease arrangements are as follows:
(in thousands)For The Year Ended
December 31,
Operating lease – supplemental information20252024
ROU assets obtained in exchange for operating lease$309 $353 
Weighted average remaining lease term – operating leases0.7 years1.4 years
Discount rate – operating leases7.50%7.50%