v3.26.1
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2026
Income Taxes  
Schedule of TRS income (loss) before provision for income taxes

For the three months ended

For the six months ended

($ in thousands)

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

United States

$

771

$

(463)

  ​ ​ ​

$

581

$

(1,444)

International

Total

$

771

$

(463)

$

581

$

(1,444)

Schedule of federal and state income tax provision (benefit)

For the three months ended

For the six months ended

($ in thousands)

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

Current:

  ​ ​ ​

Federal

$

24

$

$

32

$

State

Total Current Tax (Benefit) Expense

$

24

$

$

32

$

Deferred:

Federal

$

$

(8)

$

(1)

$

9

State

Total Deferred Tax Expense

$

$

(8)

$

(1)

$

9

Total Tax (Benefit) Expense

$

24

$

(8)

$

31

$

9

Schedule of TRS deferred tax assets

($ in thousands)

June 30, 2026

December 31, 2025

Deferred tax assets:

Net operating loss

$

1,758

$

2,057

CECL Adjustment

119

136

Total deferred tax assets

$

1,877

2,193

Deferred tax liabilities:

Fixed assets

$

$

(10)

Installment Sale

(49)

(56)

Total deferred tax liabilities

$

(49)

$

(66)

Valuation Allowance

(1,828)

(2,128)

Net deferred taxes

$

$

(1)

Summary of net operating losses and tax credit carryforwards

($ in thousands)

June 30, 2026

Expiration Year

Net operating losses, federal (Post-December 31, 2017)

$

7,588

Does not expire

Net operating losses, state

$

4,709

Various

Schedule of components of income tax rate

Tax (Benefit) Expense

Tax (Benefit) Expense

For the three months ended

For the six months ended June 30,

($ in thousands)

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

Statutory Rate

$

161

$

(97)

$

121

$

(303)

State Tax

(32)

(100)

Valuation Allowance

(137)

121

(90)

412

$

24

$

(8)

$

31

$

9

Tax Rate

Tax Rate

For the three months ended

For the six months ended June 30,

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

Statutory Rate

21.00

%

21.00

%

21.00

%

21.00

%

State Tax

%

6.91

%

%

6.93

%

Valuation Allowance

(17.89)

%

(26.18)

%

(15.58)

%

(28.55)

%

3.11

%

1.73

%

5.42

%

(0.62)

%