4. Leases

The Company has one operating lease for a commercial manufacturing facility and administrative offices located in Langhorne, Pennsylvania that runs through January 2031. There are two options that can extend the lease term for five years each. The exercise of the lease options to renew is solely at the Company’s discretion.

The following table presents information about the amount and timing of the liability arising from the Company’s operating lease as of March 31, 2023 ($ in thousands):

 Schedule of Future Minimum Lease Payments 

Total operating lease expense for the three months ending March 31, 2023 and 2022, was $65 thousand and $61 thousand, respectively, and is recorded in cost of goods sold and selling, general and administrative expenses in the accompanying condensed consolidated statement of operations.

Supplemental cash flows information related to leases was as follows ($ in thousands):

 Schedule of Supplemental Cash Flows Information Related to Leases