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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of components of (loss)

The components of (loss) before income taxes are as follows (dollars in thousands):

Schedule of components of (loss)

		2024				2023
		Year ended December 31,
		2024				2023
Domestic		$	(17,228	)		$	(20,117	)
Foreign			(509	)			-
(Loss) before income taxes		$	(17,737	)		$	(20,117	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected income tax (benefit) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

Schedule of Effective Income Tax Rate Reconciliation 

		2024				2023
		Year ended December 31,
		2024				2023
Income tax computed at federal statutory tax rate			21.0	%			21.0	%
State taxes			4.3	%			5.2	%
Permanent differences – non-deductible expenses			(1.0	)%			(0.5	)%
Change in fair value of contingent consideration			-				(0.1	)%
Change in fair value of warrant liabilities			2.0	%			3.3	%
Gain on legal settlement			-				2.6	%
True-ups			(0.6	)%			(0.1	)%
Federal R&D Credits			(0.0	)%			0.1	%
Foreign rate differential			0.1	%			-
Change in valuation allowance			(25.9	)%			(31.6	)%
Effective income tax rate			(0.1	)%			(0.1	)%

Schedule of Deferred Tax Assets and Liabilities

The principal components of the Company’s deferred tax assets and liabilities consist of the following at December 31, 2024 and 2023:

Schedule of Deferred Tax Assets and Liabilities 

(in thousands)		December 31, 2024				December 31, 2023
Deferred tax assets (liabilities):
Net operating loss carryforwards		$	41,154			$	36,964
Credit Carryforward			-				8
Intangible assets			3,794				4,270
Property and equipment			140				129
Accrued expenses and reserves			404				393
Stock based compensation			937				711
Lease liability			215				391
Other			705				40
ROU asset			(235	)			(422	)
Investment revaluation			-				43
Total deferred tax assets			47,114				42,527
Less valuation allowance			(47,114	)			(42,527	)
Net deferred taxes		$	-			$	-

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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

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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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-Publisher FASB
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