v3.25.4
TAXES (Tables)
12 Months Ended
Dec. 31, 2024
TAXES  
Schedule of components of income tax expense

The components of the income tax expense for the fiscal years ended December 31, 2024 and 2023 are as follows (in thousands):

  ​ ​ ​

December 31, 

2024

  ​ ​ ​

2023

Current

 

  ​

 

  ​

Federal

$

$

State

 

34

 

3

Foreign

Total current

$

34

$

3

Deferred

 

  ​

 

  ​

Federal

$

$

State

 

 

Foreign

Total deferred

$

$

Total income tax expense

$

34

$

3

Reconciliation of total income tax expense and the amount computed

A reconciliation of total income tax expense and the amount computed by applying the federal statutory income tax rate of 21.0% to loss before provision from income taxes for the fiscal years ended December 31, 2024 and 2023 are as follows:

  ​ ​ ​

2024

  ​ ​ ​

2023

 

Computed expected tax benefit at federal statutory rate

$

(4,358)

$

(2,760)

State benefit, net of federal benefit

 

(285)

(420)

Non-deductible interest expense

 

69

Stock-based compensation expense

 

528

Extinguishment of debt

 

75

335

Change in valuation allowance

 

3,905

2,562

Foreign rate differential

133

162

Other permanent book-tax differences

 

36

57

Total income tax expense

$

34

$

5

Schedule of net deferred tax assets

Temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows (in thousands):

  ​ ​ ​

December 31, 

Deferred tax assets

2024

  ​ ​ ​

2023

Accruals and revenues

$

473

  ​ ​ ​

$

646

Stock based compensation

 

1,306

 

92

Deferred revenue

 

864

 

731

Net operating loss

 

10,756

 

8,786

Unrealized gain

 

18

 

11

Section 163(j)

 

634

 

Capitalized research & development expenses

 

315

 

214

Property and equipment

 

56

 

2

Total gross deferred assets

$

14,422

$

10,482

Valuation allowance

 

(14,384)

 

(10,479)

Total deferred tax assets

$

38

$

3

Deferred tax liabilities

 

  ​

 

  ​

Right of use asset

 

(38)

 

(3)

Total deferred tax liabilities

$

(38)

$

(3)

Net deferred tax assets

$

$