Annual report [Section 13 and 15(d), not S-K Item 405]

INCOME TAXES (Tables)

v3.25.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Continuing Operations [Member]  
SCHEDULE OF PROVISION OF INCOME TAXES

The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes attributable to continuing operations were as follows:

 

             
    Years Ended December 31,  
    2024     2023  
Statutory federal income tax rate     21.0 %     21.0 %
State taxes, net of federal benefit     5.5 %     2.2 %
Non-deductible items     (2.7 )%     (1.0 )%
Change in valuation allowance     (25.3 )%     (20.5 )%
Prior year true up     1.5 %     (1.7 %
Effective income tax rate     0.0 %     0.0 %
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES

Significant components of the Company’s deferred tax assets and liabilities related to continuing operations are as follows:

 

             
    Years Ended December 31,  
    2024     2023  
Net operating loss carry-forwards   $ 32,047     $ 30,863  
Share based compensation     1,890       1,385  
Long-lived assets     100       115  
Section 174 R&D amortization     1,517       1,837  
Other temporary differences     705       426  
Less: Valuation allowance     (36,259 )     (34,626 )
Deferred tax assets, net   $ -     $ -  
Discontinued Operations [Member]  
SCHEDULE OF PROVISION OF INCOME TAXES

The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes attributable to discontinued operations were as follows:

 

             
    Years Ended December 31,  
    2024     2023  
Statutory federal income tax rate     0.0 %     21.0 %
State taxes, net of federal benefit     0.0 %     2.2 %
Goodwill and intangible assets     0.0 %     16.7 %
Change in valuation allowance     (0.0 )%     (39.9 )%
Prior year true up     0.0 %     0.0 %
Effective income tax rate     0.0 %     0.0 %