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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
SCHEDULE OF RECONCILIATION OF INCOME TAX BENEFITS

A reconciliation of the U.S. federal statutory income tax rate of 21% to our effective income tax rate from continuing operations is as follows (dollars in thousands):

 

SCHEDULE OF RECONCILIATION OF INCOME TAX BENEFITS

                     
   December 31, 2025   December 31, 2024 
                 
Pretax income (loss)  $(43,907)       $(34,906)     
U.S. federal statutory tax   (9,220)   21.0%   (7,330)   21.0%
California state tax, net of federal tax benefit and related valuation allowance   —    0.0%   —    0.0%
Foreign tax effects   —    0.0%   —    0.0%
Effect of changes in tax laws or rates   —    0.0%   —    0.0%
Research tax credit   (752)   1.7%   (650)   1.8%
Change in valuation allowance   6,491    (14.8)%   8,954    (25.7)%
Nontaxable or nondeductible items:                    
Meals and entertainment   9    0.0%   10    (0.1)%
Change in uncertain tax positions   —    0.0%   —    0.0%
Other adjustments:                    
Deferred tax adjustments   3,472    (7.9)%   (984)   2.8%
Income tax expense  $—    —   $—    — 
SCHEDULE OF DEFERRED TAX ASSETS

Significant components of the Company’s deferred tax assets as of December 31, 2025, and 2024 were as follows (in thousands):

 

SCHEDULE OF DEFERRED TAX ASSETS

   December 31, 2025   December 31, 2024 
Deferred tax assets          
Capitalized start-up costs  $8,217   $8,901 
Capitalized research and development costs   10,844    12,572 
Stock compensation   16,963    17,893 
Net operating loss carryforward   20,349    12,255 
Warrants   3,675    --- 
Deferred revenue   1,141    1,143 
Intangible assets   283    261 
Fixed assets   23    54 
Right of use lease liability   411    699 
Unrealized losses   78    21 
Research tax credit carryforward   3,869    3,117 
Total deferred tax assets   65,853    56,916 
Deferred tax liability:          
Right of use lease asset   (343)   (589)
Net deferred tax asset before valuation allowance   65,510    56,327 
Valuation allowance  $(65,510)  $(56,327)
Net deferred tax assets   -    -