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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

 Schedule of Components of Income Tax Expense (Benefit)

			2023				2022
			Year Ended December 31,
			2023				2022
Current:
Federal		$	-			$	-
State			-				-
Foreign			-				-
Total Current			-				-
Deferred:
Federal		$	-			$	-
State			-				-
Foreign			-				-
Total Deferred			-				-
Provision (Benefit) for income taxes			-				-

Schedule of Income Tax Provision (Benefit) Related to Continuing Operations

Income tax provision (benefit) related to continuing operations differ from the amounts computed by applying the statutory income tax rate of 21% to pretax loss as follows (in thousands):

 Schedule of Income Tax Provision (Benefit) Related to Continuing Operations

		2023				2022
		Year Ended December 31,
		2023				2022
U.S. Federal provision (benefit)
At Statutory Rate		$	(49,000	)		$	(120,000	)
State Taxes			(71,000	)			25,000
Change in Valuation Allowance			299,000				50,000
NOL Carryback Claim (CARES Act)			-				-
Nondeductible Expenses			-				-
Foreign Taxes			-				-
Deconsolidation & Impairment			-				(32,000	)
Other			(179,000	)			77,000
Total		$	-			$	-

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of loss and credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets for federal and state income taxes are as follows):

Schedule of Deferred Tax Assets and Liabilities

		2023				2022
		Year Ended December 31,
		2023				2022
Deferred Tax Assets:
Federal & State NOL Carryforward			5,163,000				3,241,000
Foreign Tax Credit & Other Credits			307,000				307,000
Capitalized R&D			98,000				55,000
Reserves and Accruals			147,000				152,000
Capital Loss Carryforward			2,360,000				2,378,000
Unicap 263A Adjustment			233,000				233,000
Other DTA			(95,000	)			(91,000	)
Foreign NOL Carryforward			2,000				2,000
Deferred Interest Expense			-				1,704,000
Total Gross DTA			8,215,000				7,982,000
Less: Val. Allowance			(8,476,000	)			(8,159,000	)
Total Deferred Tax Assets			(261,000	)			(177,000	)
Deferred Tax Liabilities:
Fixed Assets & Intangibles			261,000				233,000
Section 481(a) Adjustment			-				(56,000	)
Total Gross DTL			261,000				177,000
Net Deferred Tax Assets			-				-

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- References

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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

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- 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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

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- 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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
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