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Income Taxes (FASB ASC 740 Income Taxes) (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Net Deferred Tax Assets and Liabilities

The components of the net deferred tax assets and liabilities as of December 31, 2023 and 2022, which include the correction of an immaterial deferred tax error of approximately $1.4 million in the stock compensation component and the corresponding valuation allowance for the same amount as of December 31, 2022, consist of the following:

 Schedule of Components of Net Deferred Tax Assets and Liabilities

		2023				2022
		(in thousands)
Deferred tax assets:		December 31,
		2023				2022
Net operating losses		$	25,114			$	19,674
Research and Development costs			3,517				7,647
Amortization & depreciation			6,791				2,342
R&D credits			1,376				744
Other			137				77
Right of use asset			6				2
Stock compensation			1,479				1,472
Total deferred tax assets			38,420				31,958
Less: Valuation allowance			(36,816	)			(30,840	)
Deferred tax assets, net		$	1,604			$	1,118

Schedule of Effective Tax Rate and Statutory Tax Rate

Reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate is as follows (in thousands):

 Schedule of Effective Tax Rate and Statutory Tax Rate

Pre Tax Book Loss		$	(28,962	)
Federal Rate			(6,082	)			21.0	%
State Taxes			(2,244	)			7.75	%
Other Perms			(83	)			0.29	%
RTP			(8	)			0.03	%
Income Tax Income			(479	)			1.65	%
State Rate Change			618				-2.13	%
R&D			(272	)			0.94	%
State NOL			—				0.00	%
NJ NOL True Up			1,123				-3.88	%
Stock Compensation True Up			(1,347	)			4.65	%
Fixed Assets True Up			925				-3.19	%
Other			(22	)			0.08	%
NOL Refund VA True Up			486				-1.68	%
Valuation Allowance			7,385				-25.50	%
Total		$	—				0.0	%

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- References

No definition available.

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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

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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- 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://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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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