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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS (LIABILITIES)

The components of net deferred tax assets (liabilities) at December 31, 2023 and 2022 were as follows:

SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS (LIABILITIES)

 

           
   Year Ended December 31, 
(in thousands)  2023   2022 
Deferred tax assets:          
Net operating losses  $52,540   $44,509 
Capitalized research expenses   3,432    3,686 
Fixed asset depreciation   487    678 
Other   697    804 
ASC 842 Right of Use Liability   137    - 
Total deferred tax assets   57,293    49,677 
Valuation allowance   (57,170)   (49,677)
Deferred tax assets   123    - 
           
Deferred tax liabilities:          
ASC 842 Right of Use Asset   (123)   - 
Deferred tax liabilities   (123)   - 
           
Net deferred tax asset  $-   $- 
SCHEDULE OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX RATE

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2023 and 2022 was as follows:

SCHEDULE OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX RATE

 

           
   Year Ended December 31, 
   2023   2022 
Tax at federal statutory rate   21%   21%
State tax, net of federal benefit   -    5 
Change in valuation allowance   (17)   (26)
Change in warrant valuation   1    1 
Net operating loss reduction due to Section 382 limitation   (1)   - 
Permanent items   (1)   (1)
Deferred Adjustments, Return to Provision   (3)   - 
Effective income tax rate   -%   -%
SCHEDULE OF UNRECOGNIZED TAX BENEFITS

 

(in thousands)  Federal Tax   State Tax   Total 
Balance at December 31, 2021  $4,937   $5,644   $10,581 
Return to provision true up   -    -    - 
Increase in tax position during 2022   223    212    435 
Decrease due to expirations during 2022   (785)   -    (785)
Balance at December 31, 2022   4,375    5,856    10,231 
Return to provision true up   -    -    - 
Increase in tax position during 2023   282    211    493 
Decrease due to expirations during 2023   -    -    - 
Balance at December 31, 2023  $4,657   $6,067   $10,724