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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF COMPOSITION OF INCOME (LOSS) BEFORE INCOME TAXES

(a) Composition of income (loss) before income taxes is as follows (in thousands):

 SCHEDULE OF COMPOSITION OF INCOME (LOSS) BEFORE INCOME TAXES

		Year ended December 31,
		2024				2023
Domestic		$	2,010			$	138

SCHEDULE OF INCOME TAX (BENEFIT) EXPENSE

Income tax (benefit) expense consists of the following (in thousands):

 SCHEDULE OF INCOME TAX (BENEFIT) EXPENSE

		2024				2023
		Year ended December 31,
		2024				2023
Current:
Federal		$	—			$	—
State and local			123				9
Current income tax (benefit) expense			123				9
Deferred:
Federal			(4,209	)			—
State and local			(226	)			—
Deferred income tax benefit			(4,435	)			—
Total income tax (benefit) expense		$	(4,311	)		$	9

SCHEDULE OF RECONCILIATION BETWEEN FEDERAL TAX RATE AND EFFECTIVE INCOME TAX RATES

Set forth below is a reconciliation between the federal tax rate and the Company’s effective income tax rates with respect to continuing operations:

 SCHEDULE OF RECONCILIATION BETWEEN FEDERAL TAX RATE AND EFFECTIVE INCOME TAX RATES

		2024				2023
		Year ended December 31,
		2024				2023
Statutory Federal rates			21	%			21	%
Increase (decrease) in income tax rate resulting from:
Nondeductible/nontaxable items			0	%			2	%
State taxes			3	%			4	%
Rate change			(3	)%			69	%
Prior year rate change adjustment			—	%			173	%
Deferred true ups			(2	)%			147	%
Valuation allowance			(233	)%			(409	)%
Effective income tax rates			(214	)%			7	%

SCHEDULE OF DEFERRED TAX ASSETS AND (LIABILITIES)

(c) Analysis of Deferred Tax Assets and (Liabilities) (in thousands):

 SCHEDULE OF DEFERRED TAX ASSETS AND (LIABILITIES)

		2024				2023
		As of December 31,
		2024				2023
Deferred tax assets (liabilities) consist of the following:
Employee benefits and deferred compensation		$	72			$	61
Deferred revenue			215				202
Lease liability			22				47
Intangible assets			218				311
Other temporary differences			113				46
Section 174 expenditures			440				290
NOL and capital loss carryforwards			14,853				15,258
Total deferred tax assets			15,933				16,215
Valuation allowance			(11,400	)			(16,086	)
Net deferred tax asset			4,533				129
Right-of-use asset			(19	)			(41	)
Fixed assets			(79	)			(88	)
Total deferred tax liabilities			(98	)			(129	)
Net deferred tax assets		$	4,435			$	—

SCHEDULE OF NET OPERATING LOSS CARRYFORWARDS

As of December 31, 2024, the Company had various NOL carryforwards expiring as follows (in thousands):

 SCHEDULE OF NET OPERATING LOSS CARRYFORWARDS

Expiration		Federal				State
2025 – 2031*			2,579				—
2032 – 2037*			59,389				14,967
Unlimited			4,958				1,877
Total		$	66,926			$	16,844

* The utilization of a portion of these NOL carryforwards is limited due to limits on utilizing NOL carryforwards under Internal Revenue Service regulations following a change of control.

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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.

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-Topic 740
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-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

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