XML 165 R36.htm IDEA: XBRL DOCUMENT
v3.23.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes Based on Loss from Operations | The provision (benefit) for income taxes is based on loss from operations before provision for income taxes and noncontrolling interests as follows ($ in thousands):
| Years Ended December 31,
Pre-tax book income | 2022 |  | 2021 |  |
United States | $ | (56,175) |  |  | $ | (28,974) |  |  |
Australia | (529) |  |  | — |  |  |
Total | $ | (56,704) |  |  | $ | (28,974) |  |  |
Schedule of Benefit from Income Taxes | The provision (benefit) from income taxes was as follows ($ in thousands):
|  | Years Ended December 31, |  |
|  | 2022 |  | 2021 |  |
Current |  |  |  |  |  |
U.S. Federal |  | $ | — |  |  | $ | — |  |  |
State and local |  | — |  |  | — |  |  |
|  | $ | — |  |  | $ | — |  |  |
Deferred |  |  |  |  |  |
U.S. Federal |  | $ | — |  |  | $ | — |  |  |
State and local |  | (2,479) |  |  | (1,508) |  |  |
|  | $ | (2,479) |  |  | $ | (1,508) |  |  |
Total |  |  |  |  |  |
U.S. Federal |  | $ | — |  |  | $ | — |  |  |
State and local |  | (2,479) |  |  | (1,508) |  |  |
|  | $ | (2,479) |  |  | $ | (1,508) |  |  |
Schedule of Reconciliation of Effective Income Taxes | The provision (benefit) for income taxes is determined by applying the U.S. Federal statutory rate of 21% to income before income taxes, and the components are set forth below ($ in thousands):
|  | Years Ended December 31, |  |
|  | 2022 |  | 2021 |  |
U.S. Federal benefit at statutory rate |  | $ | (11,908) |  |  | $ | (6,085) |  |  |
Permanent non deductible expenses for U.S. taxes |  | 7,238 |  |  | 320 |  |  |
Change in state deferred |  | 8,604 |  |  | 622 |  |  |
Tax Return to Provision |  | (1) |  |  | 2,277 |  |  |
Expired options |  | 162 |  |  | — |  |  |
Other true ups |  | (25) |  |  | 1,407 |  |  |
AUS Foreign Rate Differential |  | (21) |  |  | — |  |  |
Section 382 NOL Limitation |  | 18,553 |  |  | 35,438 |  |  |
Sale of New Jersey State NOLs |  | (2,479) |  |  | (1,508) |  |  |
Valuation allowance for deferred tax assets |  | (22,602) |  |  | (33,979) |  |  |
Tax provision (benefit) |  | $ | (2,479) |  |  | $ | (1,508) |  |  |
Schedule of Components Deferred Income Taxes | Deferred income taxes at December 31, 2022 and 2021 consist of the following ($ in thousands):
|  | December 31,
|  | 2022 |  | 2021
Deferred Tax Assets: |  |  |  |
Accumulated net operating losses (tax effected) |  | $ | 13,132 |  |  | $ | 36,281 |
Right of use liability |  | 136 |  |  | 201 |
Share-based compensation |  | 3,027 |  |  | 3,086 |
Intangibles |  | 944 |  |  | 97 |
Capitalized Research and Development |  | 5,018 |  |  | — |
Accumulated depreciation |  | 14 |  |  | 26 |
Accrued payroll |  | 118 |  |  | 176 |
Other |  | 579 |  |  | 526 |
Deferred tax assets |  | 22,968 |  |  | 40,393 |
Deferred Tax Liabilities: |  |  |  |
Right of use asset |  | $ | (137) |  |  | $ | (204) |
Cash to Accrual |  | (99) |  |  | — |
Deferred tax liabilities |  | (236) |  |  | (204) |
Net deferred tax asset |  | 22,732 |  |  | 40,189 |
Valuation allowance |  | (22,732) |  |  | (40,189) |
Net deferred tax asset |  | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
|  | Years Ended December 31, |  |
|  | 2022 |  | 2021 |  |
Gross unrecognized tax benefit, beginning of period |  | $ | — |  |  | $ | — |  |  |
Additions based on tax positions related to the current year |  | — |  |  | — |  |  |
Additions based on tax positions related to the prior years |  | 344 |  |  | — |  |  |
Reductions due to lapse in statute of limitations and settlements |  | — |  |  | — |  |  |
Gross Unrecognized tax benefit, end of period |  | $ | 344 |  |  | $ | — |  |  |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration