INCOME TAXES |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | NOTE 18 — INCOME TAXES
The Company continues to maintain a full valuation allowance against its net deferred tax assets and did not recognize an income tax benefit on current-period losses. Management is not aware of any material changes in its overall income tax position, including uncertain tax positions, during the three and six months ended June 30, 2026. In addition, no deferred tax asset has been recognized with respect to FANING Korea’s loss carryforwards.
The Company’s net operating loss carryforwards may be subject to limitations under Section 382 of the Internal Revenue Code if an ownership change, as defined by the Code, has occurred. Management is not aware of any events or developments during the quarter that would require modification of its previously disclosed position regarding the potential limitation of such carryforwards.
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