v3.24.0.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2022
INCOME TAXES  
Schedule of deferred tax assets and liabilities

​

​

​

​

​

​

​

​

(table in thousands)

    

2022

    

2021

Net operating losses

​

$

3,334

​

$

1,945

Due to Officers

​

​

—

​

​

1,411

Accrued Expenses and Other

​

​

189

​

​

212

R&D Credit Carryforward

​

​

76

​

​

102

Debt related activities

​

​

—

​

​

375

Stock Compensation

​

​

178

​

​

—

R&D Capitalization

​

​

581

​

​

—

Intangibles

​

​

34

​

​

—

Total gross deferred tax assets/(liabilities)

​

$

4,392

​

$

4,045

Less valuation allowance

​

​

(4,392)

​

​

(4,045)

Net deferred tax assets/(liabilities)

​

$

—

​

$

—

Schedule of reconciliation between effective tax and tax computed by applying the U.S. federal income tax rate

​

​

​

​

​

​

​

​

(table in thousands)

​

2022

​

2021

Federal Statutory Rate

    

$

(1,970)

    

$

(4,641)

Permanent Differences

​

 

153

​

 

2,876

Research and Development

​

 

(76)

​

 

(102)

State Income Tax

​

 

388

​

 

196

Change in Valuation Allowance

​

 

347

​

 

1,671

Deferred True Up

​

 

1,158

​

 

—

Effect of Tax Act

​

 

—

​

 

—

​

​

​

​

​

​

​

Effective Tax

​

$

—

​

$

—