Convertible Bond Loan (Tables)
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6 Months Ended |
12 Months Ended |
Jun. 30, 2025 |
Dec. 31, 2024 |
Convertible Bond Loan |
|
|
Schedule of components of income tax provision (benefit) |
|
Schedule of components of loss before income taxes |
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
(Amounts in thousands) |
|
2024 |
|
|
2023 |
|
Domestic |
|
$ |
(26,816 |
) |
|
$ |
(35,233 |
) |
Foreign |
|
|
(3,253 |
) |
|
|
(15,751 |
) |
The components of income tax provision (benefit) for the years ended December 31, 2024 and 2023 were as follows:
Schedule of components of income tax provision (benefit) |
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
(Amounts in thousands) |
|
2024 |
|
|
2023 |
|
Federal: |
|
|
|
|
|
|
|
|
Current |
|
$ |
(55 |
) |
|
$ |
(52 |
) |
Deferred |
|
|
- |
|
|
|
- |
|
Total federal income tax (benefit) provision |
|
|
(55 |
) |
|
|
(52 |
) |
State: |
|
|
|
|
|
|
|
|
Current |
|
|
- |
|
|
|
(30 |
) |
Deferred |
|
|
- |
|
|
|
- |
|
Total state income tax (benefit) provision |
|
|
- |
|
|
|
(30 |
) |
International (Non-US): |
|
|
|
|
|
|
|
|
Current |
|
|
- |
|
|
|
- |
|
Deferred |
|
|
- |
|
|
|
- |
|
Total international income tax (benefit) provision |
|
|
- |
|
|
|
- |
|
Total income tax (benefit) provision |
|
$ |
(55 |
) |
|
$ |
(82 |
) |
|
Schedule of components of income tax provision (benefit) |
Schedule of operating results for the discontinued entities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
(Unaudited)
|
|
|
Six Months Ended June 30, (Unaudited) |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Revenue, net |
|
$ |
- |
|
|
$ |
151 |
|
|
$ |
- |
|
|
$ |
864 |
|
Cost of revenues |
|
|
- |
|
|
|
(72 |
) |
|
|
- |
|
|
|
(614 |
) |
Gross profit (loss) |
|
|
- |
|
|
|
79 |
|
|
|
- |
|
|
|
250 |
|
Income from grants |
|
|
- |
|
|
|
253 |
|
|
|
- |
|
|
|
852 |
|
Research and development expenses |
|
|
- |
|
|
|
(2,892 |
) |
|
|
- |
|
|
|
(2,892 |
) |
Administrative and selling expenses |
|
|
- |
|
|
|
(8,747 |
) |
|
|
- |
|
|
|
(9,456 |
) |
Other income/(expenses), net |
|
|
- |
|
|
|
10,247 |
|
|
|
|
|
|
|
10,246 |
|
Operating income/(loss) |
|
|
- |
|
|
|
(1,060 |
) |
|
|
- |
|
|
|
(1,000 |
) |
Income/(loss) from discontinued operations |
|
|
- |
|
|
|
(1,060 |
) |
|
|
- |
|
|
|
(1,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income/(loss) from discontinued operations |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
35 |
|
Comprehensive income/(loss) from discontinued operations |
|
|
- |
|
|
|
(1,060 |
) |
|
|
- |
|
|
|
(965 |
) |
|
Schedule of components of income tax provision (benefit) |
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
(Amounts in thousands) |
|
2024 |
|
|
2023 |
|
Federal: |
|
|
|
|
|
|
|
|
Current |
|
$ |
(55 |
) |
|
$ |
(52 |
) |
Deferred |
|
|
- |
|
|
|
- |
|
Total federal income tax (benefit) provision |
|
|
(55 |
) |
|
|
(52 |
) |
State: |
|
|
|
|
|
|
|
|
Current |
|
|
- |
|
|
|
(30 |
) |
Deferred |
|
|
- |
|
|
|
- |
|
Total state income tax (benefit) provision |
|
|
- |
|
|
|
(30 |
) |
International (Non-US): |
|
|
|
|
|
|
|
|
Current |
|
|
- |
|
|
|
- |
|
Deferred |
|
|
- |
|
|
|
- |
|
Total international income tax (benefit) provision |
|
|
- |
|
|
|
- |
|
Total income tax (benefit) provision |
|
$ |
(55 |
) |
|
$ |
(82 |
) |
|
Schedule of income tax (benefit) provision |
|
Schedule of income tax (benefit) provision |
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
(Amounts in thousands) |
|
2024 |
|
|
2023 |
|
Current tax at U.S. statutory rate |
|
$ |
(6,315 |
) |
|
$ |
(10,707 |
) |
Effect of state tax |
|
|
(1,636 |
) |
|
|
(1,132 |
) |
Effect of valuation allowance |
|
|
8,963 |
|
|
|
13,450 |
|
Warranty Liability |
|
|
(12 |
) |
|
|
(83 |
) |
Effect of non-US income tax rates |
|
|
(288 |
) |
|
|
(4,100 |
) |
Impairment |
|
|
(875 |
) |
|
|
1,073 |
|
Stock compensation |
|
|
199 |
|
|
|
1,677 |
|
Other, net |
|
|
(91 |
) |
|
|
(260 |
) |
Total income tax (benefit) provision |
|
$ |
(55 |
) |
|
$ |
(82 |
) |
|
Schedule of deferred tax assets and liabilities |
|
Schedule of deferred tax assets and liabilities |
|
|
|
|
|
|
|
|
(Amounts in thousands) |
|
December 31, 2024 |
|
|
December 31, 2023 |
|
Deferred Tax Assets: |
|
|
|
|
|
|
|
|
Net operating loss carryforwards |
|
$ |
31,425 |
|
|
$ |
26,759 |
|
Capital loss |
|
|
12,345 |
|
|
|
- |
|
Reserves and accruals |
|
|
1,348 |
|
|
|
1,126 |
|
Stock compensation |
|
|
3,496 |
|
|
|
1,423 |
|
Lease Liability |
|
|
71 |
|
|
|
2,511 |
|
Sec 174 Cap |
|
|
1,714 |
|
|
|
1,823 |
|
Intangibles |
|
|
1,013 |
|
|
|
1,073 |
|
Other |
|
|
2,875 |
|
|
|
1,137 |
|
Total deferred tax assets before valuation allowance |
|
$ |
54,287 |
|
|
$ |
35,852 |
|
Less: Valuation Allowance |
|
|
(53,944 |
) |
|
|
(32,654 |
) |
Total deferred tax assets, net of valuation allowance |
|
$ |
343 |
|
|
$ |
3,198 |
|
|
|
|
|
|
|
|
|
|
Deferred Tax Liabilities: |
|
|
|
|
|
|
|
|
Fixed assets |
|
|
(296 |
) |
|
|
(300 |
) |
Lease ROA |
|
|
(47 |
) |
|
|
(2,898 |
) |
Intangibles |
|
|
|
|
|
|
- |
|
Other |
|
|
|
|
|
|
- |
|
Total deferred tax liabilities |
|
$ |
(343 |
) |
|
$ |
(3,198 |
) |
Net deferred tax assets/(liabilities) |
|
$ |
- |
|
|
$ |
- |
|
|