3. PREPAID EXPENSES AND OTHER CURRENT ASSETS: Prepaid expenses and other current assets consist of the following: | | | | | | | | | December 31, | | December 31, | (in thousands) | | 2025 | | 2024 | Advances and retainers | | $ | 54 | | $ | — | Prepaid insurance | | | 152 | | | 194 | Deferred research & development costs | | | — | | | 138 | Research grant receivable | | | 88 | | | 62 | Prepaid facility costs | | | 68 | | | 67 | Prepaid software licenses | | | 52 | | | 66 | VAT receivable | | | — | | | 319 | Tax Receivable | | | 117 | | | — | Other receivable and other prepaid expenses | | | 44 | | | 3 | Total prepaid expenses and other current assets | | $ | 575 | | $ | 849 | | | | | | | |
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