v3.25.2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of Provision for Income Taxes from Continuing Operations

The following table summarizes the significant components of the provision for income taxes from continuing operations:

 

 

For the Year Ended December 31, 2024

 

 

For the Year Ended December 31, 2023

 

Federal:

 

 

 

 

 

 

Current

 

$

 

 

$

 

Deferred

 

 

(2,126

)

 

 

(4,215

)

State:

 

 

 

 

 

 

Current

 

 

2

 

 

 

30

 

Deferred

 

 

(255

)

 

 

(690

)

Change in valuation allowance

 

 

2,381

 

 

 

4,877

 

Total income tax provision

 

$

2

 

 

$

2

 

Schedule of Income Tax Provision Computed at Federal Statutory Corporate Tax Rate

The income tax provision differs from that computed at the federal statutory corporate tax rate as follows:

 

 

 

For the Year Ended
December 31,2024

 

 

For the Year Ended
December 31, 2023

 

Expected provision at Federal statutory tax rate

 

 

21.00

%

 

 

21.00

%

State tax expense, net of Federal benefit

 

 

2.17

%

 

 

3.17

%

Change in valuation allowance

 

 

(20.80

)%

 

 

(23.35

)%

Permanent difference

 

 

(2.05

)%

 

 

(0.73

)%

Other

 

 

(0.34

)%

 

 

(0.24

)%

 

 

 

 

 

 

 

Total

 

 

(0.02

)%

 

 

(0.15

)%

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the significant components of the Company’s deferred taxes:

 

 

For the Year Ended
December 31, 2024

 

 

For the Year Ended
December 31, 2023

 

Deferred tax assets (liabilities):

 

 

 

 

 

 

Net operating loss

 

$

13,109

 

 

$

12,090

 

Share based compensation

 

 

248

 

 

 

472

 

Disallowed interest

 

 

3,770

 

 

 

1,573

 

Allowance for doubtful accounts

 

 

141

 

 

 

23

 

Lease accounting

 

 

138

 

 

 

304

 

Unrealized Loss

 

 

14

 

 

 

14

 

Depreciation

 

 

(1,501

)

 

 

(938

)

Total deferred tax assets (liabilities)

 

$

15,919

 

 

$

13,538

 

 

 

 

 

 

 

 

Less valuation allowance

 

 

(15,919

)

 

 

(13,538

)

 

 

 

 

 

 

 

Net deferred tax assets (liabilities)

 

$

 

 

$