v3.26.3
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
SCHEDULE OF FOREIGN AND DOMESTIC INCOME BEFORE TAX

The domestic and foreign components of net income before provision for income taxes is as follows:

 

   2025   2024 
   Year ended December 31, 
   2025   2024 
Domestic  $(3,725)  $(31,531)
Foreign   (131)   28,061 
(Loss) income before provision for income taxes  $(3,856)  $(3,470)
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT)

The components of the provision for (benefit from) income taxes are as follows:

 

   2025   2024 
   Year ended December 31, 
   2025   2024 
Current tax provision (benefit):          
U.S. Federal  $-   $- 
State and local   31    (15)
Foreign   1,088    783 
Total current provision for (benefit from) income taxes   1,119    768 
Deferred tax provision (benefit):          
U.S. Federal   -    - 
State and local   -    - 
Foreign   942    532 
Total deferred provision (benefit) from income taxes   942    532 
Total provision for income taxes  $2,061   $1,300 
SCHEDULE OF CASH FLOW, SUPPLEMENTAL DISCLOSURES
   Year ended December 31, 
   2025 
Income taxes paid:     
U.S. Federal  $95 
State and local   163 
Foreign     
Australia   1,233 
U.K.   233 
India   134 
Other   37 
Total Foreign   1,637 
Total income taxes paid  $1,895 
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

The following is a reconciliation of the effective tax rate for the year ended December 31, 2025 to the U.S. federal statutory rate of 21%:

 

           
   Year ended December 31, 2025 
   Amount   Percent 
US federal statutory income tax rate  $(810)   21.0%
Domestic federal          
Nontaxable and nondeductible items          
Nondeductible employee compensation   151    (3.9)%
Nondeductible professional fees   471    (12.2)%
Nondeductible share based compensation   376    (9.7)%
Other   149    (3.9)%
Changes in valuation allowance   (9,188)   238.2%
Operating losses expired   8,833    (229.0)%
Domestic state and local income taxes, net of federal effect1   32    (0.8)%
Foreign tax effects          
United Arab Emirates          
Changes in valuation allowance   329    (8.5)%
Australia          
Statutory income tax rate differential   385    (10.0)%
Noncreditable withholding tax   41    (1.1)%
United Kingdom          
Deferred investment impairment true-up and NOL carryback   1,111    (28.8)%
Other   13    (0.3)%
Other foreign jurisdictions   162    (4.2)%
Worldwide changes in unrecognized tax benefits   6    (0.2)%
Provision for income taxes 

$

2,061    (53.4)%

 

1.State and local income taxes in Pennsylvania and Texas comprise the majority of the domestic state and local income taxes, net of federal effect category.

 

The following is a reconciliation of the effective tax rate for the year ended December 31, 2024 to the U.S. federal statutory rate of 21%:

 

   Year ended December 31, 
   2024 
Provision at federal statutory rates  $(729)
State income taxes, net of federal benefit   1,133 
Change in valuation allowance   6,817 
Taxes related to foreign income   (1,506)
Non-deductible expenses   (4,943)
Uncertain tax positions   6 
Prior period adjustments   395 
Permanent differences and other   127 
Provision for income taxes  $1,300 
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

Deferred income taxes are provided for the tax effect of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. Net deferred tax assets have been reported as non-current in the accompanying Consolidated Balance Sheets. Significant temporary differences at December 31, 2025 and 2024 are as follows:

 

   2025   2024 
   As of December 31, 
   2025   2024 
Deferred tax assets (liabilities):          
Allowance for expected credit losses  $89   $108 
Property and equipment   (7,383)   (170)
Goodwill and intangibles   4,863    714 
Accrued compensation   1,417    1,786 
Accrued liabilities and other   4,607    29 
Loss carryforwards   65,855    73,672 
Deferred tax assets before valuation allowance   69,448    76,139 
Valuation allowance   (67,537)   (73,491)
Deferred tax assets, net of valuation allowance  $1,911   $2,648 
SCHEDULE OF INCOME TAX CONTINGENCIES

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties is as follows:

 

   2025   2024 
Balance, beginning of year  $60    $60 
Additions for tax positions of current years  -   - 
Additions for tax positions of prior years   -    - 
Reductions for tax positions of prior years   -    - 
Expiration of applicable statutes of limitations   -    - 
Balance, end of year  $60   $60