XML 45 R31.htm IDEA: XBRL DOCUMENT
v3.24.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
SCHEDULE OF DOMESTIC AND FOREIGN COMPONENTS | The following table presents domestic and foreign components of consolidated loss before income taxes from continuing operations for the periods presented: SCHEDULE OF DOMESTIC AND FOREIGN COMPONENTS
|  | December 31, 2023 |  |  | December 31, 2022 |
Domestic |  | $ | (12,479,803 | ) |  | $ | (13,887,914 | )
Foreign |  |  | — |  |  |  | — |
Loss before provision for income taxes |  | $ | (12,479,803 | ) |  | $ | (13,887,914 | )
SCHEDULE OF RECONCILIATIONS OF STATUTORY INCOME TAX RATE | A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows: SCHEDULE OF RECONCILIATIONS OF STATUTORY INCOME TAX RATE
|  | December 31, 2023 |  |  | December 31, 2022 |
Statutory federal income tax rate |  |  | 21.00 | % |  |  | 21.00 | %
State taxes, net of federal tax benefit |  |  | 1.76 | % |  |  | 7.50 | %
Non-deductible expenses |  |  | -0.64 | % |  |  | -2.09 | %
NOL expiration |  |  | -5.26 | % |  |  | -19.88 | %
Tax credit |  |  | 2.92 | % |  |  | 3.71 | %
Goodwill impairment |  |  | 0.00 | % |  |  | 0.00 | %
Foreign rate differential |  |  | 0.00 | % |  |  | 0.00 | %
Change in fair value of warrant liability |  |  | 3.35 | % |  |  | 0.00 | %
Tax impact of convertible debenture |  |  | -5.46 | % |  |  | 1.37 | %
Tax impact of divestiture |  |  | -229.26 | % |  |  | 4.01 | %
True-up |  |  | -10.65 | % |  |  | 2.24 | %
Change in valuation allowance |  |  | 222.28 | % |  |  | -17.91 | %
Income taxes provision (benefit) |  |  | 0.04 | % |  |  | -0.05 | %
SCHEDULE OF PROVISION FOR INCOME TAXES | Income tax expense for the year ended December 31, 2023 and 2022 consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | For the Years Ended |
|  | December 31, 2023 |  |  | December 31, 2022 |
Current |  |  |  |  |  |  |  |
U.S. Federal |  | $ | (10,000 | ) |  | $ | — |
U.S. State |  |  | 5,000 |  |  |  | 7,000 |
Total current provision |  |  | (5,000 | ) |  |  | 7,000 |
Deferred Benefit |  |  |  |  |  |  |  |
U.S. Federal |  |  | 23,128,000 |  |  |  | (236,000 | )
U.S. State |  |  | 4,697,000 |  |  |  | (2,252,000 | )
Total deferred benefit |  |  | 27,825,000 |  |  |  | (2,488,000 | )
Change in valuation allowance |  |  | (27,825,000 | ) |  |  | 2,488,000 |
Total provision (benefit) for income taxes |  | $ | (5,000 | ) |  | $ | 7,000 |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | The components of deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | December 31, 2023 |  |  | December 31, 2022 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss |  | $ | 8,644,000 |  |  | $ | 32,587,000 |
Research and development credits |  |  | 4,970,000 |  |  |  | 7,857,000 |
Accrued expenses |  |  | 68,000 |  |  |  | 1,020,000 |
Patent |  |  | — |  |  |  | — |
Stock compensation |  |  | 3,004,000 |  |  |  | 3,069,000 |
Research and development expenses |  |  | 1,102,000 |  |  |  | 1,196,000 |
Fixed assets |  |  | — |  |  |  | 280,000 |
Total deferred income tax assets |  |  | 17,788,000 |  |  |  | 46,009,000 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | — |  |  |  | (13,000 | )
Right-of-use asset |  |  | — |  |  |  | (382,000 | )
Total deferred income tax liabilities |  |  | — |  |  |  | (395,000 | )
Net deferred income tax assets |  |  | 17,788,000 |  |  |  | 45,614,000 |
Valuation allowance |  |  | (17,788,000 | ) |  |  | (45,614,000 | )
Deferred tax asset, net of allowance |  | $ | — |  |  | $ | — |

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 -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 + 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 -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 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + 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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration