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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Loss Before Income Taxes

Loss before income taxes consist of the following (in thousands):

 Schedule of Loss Before Income Taxes

		2024				2023
		Years ended December 31,
		2024				2023
(in thousands)
Domestic		$	(44,529	)		$	(21,654	)
Foreign			20				(17	)
Total loss before income taxes		$	(44,509	)		$	(21,671	)

Schedule of Income Tax Provision

For each of the years ended December 31, 2024 and 2023, current tax provisions and current deferred tax provisions were recorded as follows (in thousands):

 Schedule of Income Tax Provision

		2024				2023
		Years ended December 31,
		2024				2023
Current Tax Provision
Federal		$	-			$	-
State			3				1
Foreign			-				-
Current tax provision			3				1
Deferred Tax Provision
Federal			-				-
State			27				(4	)
Foreign			-				-
Deferred tax provision			27				(4	)
Total tax provision (benefit) for income taxes		$	30			$	(3	)

Schedule of Deferred Tax Assets and Liabilities

 Schedule of Deferred Tax Assets and Liabilities

		2024				2023
		As of December 31,
		2024				2023
Deferred Tax Assets:
Net operating losses		$	16,496			$	12,740
Foreign net operating losses			782				784
Stock compensation			2,646				2,141
In-process research and development			1,030				1,009
Capitalized research and development expenses			4,548				3,105
Accrued expenses			192				-
R&D credit carryforwards			437				437
ROU Liabilities			187				8,932
Other			29				135
Total gross deferred tax assets			26,347				29,283
Valuation allowance			(26,023	)			(18,302	)
Net deferred tax assets			324				10,981
Deferred Tax Liabilities:
Fixed assets			-				(6	)
ROU Assets			(183	)			(8,349	)
Convertible debt			-				(2,507	)
Intangibles - goodwill			(229	)			(179	)
Total deferred tax liabilities			(412	)			(11,041	)
Net deferred taxes		$	(88	)		$	(60	)

Schedule of Reconciliation of Computed Expected Income Taxes to Effective Income Taxes

The reconciliation between the Company’s effective tax rate on income from continuing operations and the federal statutory tax rate of 21% for the years ended December 31, 2024 and 2023 is as follows:

 Schedule of Reconciliation of Computed Expected Income Taxes to Effective Income Taxes

		2024				2023
		As of December 31,
		2024				2023
Tax at federal income tax rate			21.00	%			21.00	%
State income tax, net of federal tax			2.95	%			4.92	%
Foreign tax differential			0.00	%			(0.01	%)
Non-deductible expenses/excludable items			(0.05	%)			(0.74	%)
Convertible debt			(9.16	%)			(11.92	%)
Credits			(0.18	%)			0.00	%
Other			2.72	%			(3.34	%)
Change in valuation allowance			(17.35	%)			(9.90	%)
(Provision) benefit for income taxes			(0.07	%)			0.01	%

Schedule of Uncertain Tax Positions

 Schedule of Uncertain Tax Positions

		2024				2023
		As of December 31,
		2024				2023
Beginning balance of uncertain tax positions		$	393			$	121
Additions based on current year’s tax positions			-				-
Net changes based on prior year’s tax positions			-				272
Ending balance of uncertain tax positions		$	393			$	393

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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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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 the change in unrecognized tax benefits.

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