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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense | Income tax expense (benefit) for each of the years ended December 31 consists of the following:
(Dollars in thousands) |  | 2025 |  | 2024
Federal |  | $ | — |  |  | $ | — |
State |  | 23 |  |  | 35 |
Deferred |  | (2,339) |  |  | (2,522) |
Total |  | $ | (2,316) |  |  | $ | (2,487) |
Schedule of Deferred Income Tax Expense | Deferred income tax expense (benefit) from operations for each of the years ended December 31 consists of the following:
(Dollars in thousands) |  | 2025 |  | 2024
Deferred tax (benefit) expense |  | $ | (4,320) |  |  | $ | 4,006 |
Net operating loss carry forward |  | (1,364) |  |  | (8,192) |
Valuation allowance |  | 3,345 |  |  | 1,664 |
|  | $ | (2,339) |  |  | $ | (2,522) |
Schedule of Effective Income Tax Rate | The Company’s effective income tax rate from operations differed from the Federal statutory rate for each of the years ended December 31 as follows:
(Dollars in thousands) | 2025 |  | 2024
| In USD |  | Percent |  | In USD |  | Percent
US Federal statutory tax rate | $ | (12,470) |  |  | 21 | % |  | $ | (12,765) |  |  | 21 | %
State and local income tax, net of federal income tax effect |  |  |  |  |  |  |
Kentucky income tax effect | (581) |  | 1 |  |  | (126) |  | — |
All other states income tax effect | (12) |  | — |  |  | (465) |  | 1 |
State rate adjustment | (117) |  | — |  |  | (271) |  | — |
State NOL adjustment | 760 |  | (1) |  |  | 917 |  | (1) |
Nontaxable or nondeductible items |  |  |  |  |  |  |
Partnership differential | 1,282 |  | (2) |  |  | (704) |  | 1 |
Stock based compensation | 113 |  | — |  |  | (79) |  | — |
Fair value adjustment of warrants | 4,973 |  | (8) |  |  | — |  |  | — |
Cancellation of debt income | 0 |  | — |  |  | 6,004 |  | (10) |
Loss on extinguishment of debt | (2,592) |  | 4 |  |  | 1,241 |  | (2) |
Other permanent items | 5 |  | — |  |  | 5 |  | — |
Other Adjustments |  |  |  |  |  |  |
Expiration of Net Operating Losses | 2,985 |  | (5) |  |  | 718 |  | (1) |
Return to provision adjustments | (5) |  | — |  |  | 1,369 |  | (2) |
Other | (2) |  | — |  |  | 5 |  | — |
Change in valuation allowances | 3,345 |  | (6) |  |  | 1,664 |  | (3) |
Total income tax benefit / Tax rate | $ | (2,316) |  |  | 4 | % |  | $ | (2,487) |  |  | 4 | %
Schedule of Deferred Tax Assets | Temporary differences, net operating loss carryforwards and tax credit carryforwards that give rise to deferred tax assets and liabilities are summarized as follows as of December 31:
(Dollars in thousands) |  | 2025 |  | 2024
Deferred tax assets: |  |  |  |
Accruals and reserves |  | $ | 229 |  |  | $ | 236 |
Net operating loss |  | 38,515 |  |  | 37,151 |
Property, plant and equipment |  | (1,647) |  |  | (1,394) |
Stock options |  | 4,476 |  |  | 2,236 |
Research and development tax credit |  | 227 |  |  | 227 |
Deferred tax assets |  | 41,800 |  |  | 38,456 |
Valuation allowance |  | (41,800) |  |  | (38,456) |
Deferred tax assets, net of valuation allowance |  | — |  |  | — |
Deferred tax liabilities: |  |  |  |
Intangibles |  | (2,911) |  |  | (5,257) |
Deferred tax liabilities |  | (2,911) |  |  | (5,257) |
Deferred tax liabilities, net |  | $ | (2,911) |  |  | $ | (5,257) |
Schedule of Deferred Tax Asset Valuation Allowance | Activity in the valuation allowance for deferred tax assets is as follows as of December 31:
(Dollars in thousands) |  | 2025 |  | 2024
Valuation allowance, beginning of year |  | $ | 38,456 |  |  | $ | 36,791 |
Net operating (loss) income |  | 1,364 |  |  | 8,200 |
Property, plant and equipment |  | (253) |  |  | (7,171) |
Stock options |  | 2,240 |  |  | 673 |
Research and development credit |  | — |  |  | — |
Accrued expenses |  | (7) |  |  | (37) |
Valuation allowance, end of year |  | $ | 41,800 |  |  | $ | 38,456 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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