INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAXES [Abstract]

Deferred Tax Asset (Liability)

Deferred tax asset (liability) is comprised of the following (in thousands):

	December 31
	2019			2018
Net operating loss carryforwards	$	7,672		$	4,541
Stock options and warrants		420			214
Property		138			299
Intangible assets		66			94
Capitalized expenses		54			86
Other		210			164
Operating right-of-use lease assets		(667	)
Operating right-of-use lease liabilities		794
Net deferred tax assets		8,687			5,398
Less: Valuation allowance		(8,687	)		(5,398	)
Deferred tax asset (liability)	$	-		$	-

Summary of Change in Valuation Allowance

The following table summarizes the change in the valuation allowance (in thousands):

	Year Ended December 31
	2019			2018
Vaulation allowances, beginning of year	$	5,398		$	13,872
Net operating loss		3,284			1,920
Expiration of net operating losses and limitations		(7	)		(9,939	)
Adjustment to deferred taxes		29			(321	)
Impact of state tax rate change		26			(146	)
Other adjusments		(43	)		12
Valuation allowance, end of year	$	8,687		$	5,398

Effective Income Tax Rate Reconciliation

Reconciliations between the amounts computed by applying the U.S. federal statutory tax rate to loss before income taxes, and income tax expense (benefit) follows (in thousands):

	Year Ended December 31
	2019			2018
Income tax benefit at federal statutory rate	$	(2,928	)	$	(1,692	)
Increase (decrease) resulting from:
State tax benefit, net of federal tax effect		(437	)		(184	)
Effect of change in state tax rate		(26	)		146
Change in valuation allowance		3,341			(8,474	)
Expirations of net operating losses and application of IRC 382 limitation		7			9,939
Adjustments to deferreds		(29	)		321
Other		72			(11	)
Income tax expense	$	-		$	45