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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss from operations before income taxes for the years ended December 31, 2024 and 2023 is summarized below (in thousands):

Schedule of Income before Income Tax, Domestic and Foreign

		2024				2023
		For the year ended December 31,
		2024				2023
Loss from operations before income taxes:
US			(12,855	)			(1,990	)
Foreign			(4,947	)			1,454
Loss from operations before income taxes			(17,802	)			(536	)

Schedule of Provision for Income Tax

The provision (benefit) for income taxes for the years ended December 31, 2024 and December 31, 2023 is as follows (in thousands):

Schedule of Provision for Income Tax 

		2024				2023
		For The Years Ended
		2024				2023
Current
Federal			-				-
State			-				-
Foreign			-				-
Current income tax			-				-
Deferred
Federal			(2,429	)			(843	)
State			355				(355	)
Foreign			(931	)			(251	)
Deferred income tax			(3,005	)			(1,449	)
Change in Valuation Allowance			3,005				1,449
Net Income Tax Expense			-				-

Schedule of Federal Income Tax Rate

Income tax provision differed from the amount computed by applying the U.S. federal income tax rate of 21% to income (loss) before taxes, as follows (in thousands):

Schedule of Federal Income Tax Rate

		US				Foreign				Consolidated
		For The Year Ended
		2024
		US				Foreign				Consolidated
Taxes at federal statutory rate		$	(2,705	)		$	(1,039	)		$	(3,744	)
Foreign Rate Differential			-				91				91
Meals & Entertainment			0				-				0
Eq Comp Perm			84				-				84
Convertible Debt Adjustment			268				-				268
State Re-Rate			355				-				355
Other			(76	)			17				(59	)
Change In Valuation Allowance			2,074				931				3,005
Total provision (benefit) for income taxes		$	-			$	-			$	-

		US				Foreign				Consolidated
		For The Year Ended
		2023
		US				Foreign				Consolidated
Taxes at federal statutory rate		$	(417	)		$	305			$	(112	)
State Taxes			(175	)			-				(175	)
Foreign Rate Differential			-				490				490
Meals & Entertainment			0				2				2
Eq Comp Perm			3				-				3
Convertible Debt Adjustment			-				(1,048	)			(1,048	)
Purchase Accounting Adjustment			(609	)			-				(609	)
Change In Valuation Allowance			1,198				251				1,449
Total provision (benefit) for income taxes		$	-			$	-			$	-

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences which give rise to significant portions of deferred tax assets are as follows as of December 31 (in thousands):

Schedule of Deferred Tax Assets and Liabilities

		US				Foreign				Consolidated
		For The Year Ended
		2024
		US				Foreign				Consolidated
Deferred Tax Assets
Stock options		$	280			$	-			$	280
Transaction Costs			393				-				393
Research & Development			671				-				671
Accruals			141				-				141
Net operating loss			1,788				1,182				2,970
Total deferred tax asset			3,273				1,182				4,455
Valuation allowance			(3,273	)			(1,182	)			(4,455	)
Net deferred tax assets (liability)		$	-			$	-			$	-

		US				Foreign				Consolidated
		For The Year Ended
		2023
		US				Foreign				Consolidated
Deferred Tax Assets
Stock options		$	37			$	-			$	37
Transaction Costs			599								599
Net operating loss			562				251				813
Total deferred tax asset			1,198				251				1,449
Valuation allowance			(1,198	)			(251	)			(1,449	)
Net deferred tax assets (liability)		$	-			$	-			$	-

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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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 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
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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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))
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