INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME TAXES

Schedule of consolidated loss before income taxes

	Year Ended December 31,
	2025		2024
	(amounts, in thousands)
Domestic	$	(9,608)	$	(11,723)
Foreign		1,009		(10,687)
Total	$	(8,599)	$	(22,410)

Schedule of benefit from income taxes

	December 31,
	2025		2024
		(amounts, in thousands)
Current:
Federal	$	—	$	—
State Tax, including sale of New Jersey losses & credits		401		1,691
Foreign tax provision		—		—
Total current		401		1,691
Deferred
Federal		—		—
State Tax, including sale of New Jersey losses & credits		—		—
Foreign tax provision		—		—
Total deferred		—		—
Total income tax provision (benefit)
Federal		—		—
State Tax, including sale of New Jersey losses & credits		401		1,691
Foreign tax provision		—		—
Total	$	401	$	1,691

Schedule of income taxes paid (net of refunds received)

	December 31,
	2025		2024
	(amounts, in thousands)
Federal	$	—
State		(1,712)	(881)
Foreign		—
Total	$	(1,712)	(881)

Schedule of deferred tax assets and liabilities

	Year Ended December 31,
	2025		2024
	(amounts, in thousands)
Current and long term deferred tax assets:
Federal NOL	$	24,947	$	21,693
Foreign NOL		20,003		17,164
NJ NOL		837		459
Net operating loss carryforward		45,787		39,316
Stock Options		590		483
Federal R&D Credit		2,104		2,224
Research and development credit carryforward		2,104		2,224
Other		353		458
Charitable Contributions		6		6
Accruals and others		359		464
§174(b) research & experimental		3,138		5,486
§163(j) business interest expense		835		255
Lease Liability		3,498		3,625
Gross deferred tax assets		56,311		51,853
Less valuation allowance		(52,852)		(48,268)
		3,459		3,585
Deferred tax liability:
Fixed Assets		(388)		(349)
Right of Use Asset		(3,071)		(3,236)
Net deferred tax assets	$	—	$	—

Schedule of effective income tax rate reconciliation

	Year Ended December 31,
	$		%
Federal statutory rate	$	(1,806)	21.0	%
State and local income taxes, net of federal income tax effect		(318)	3.7
Foreign tax effects
Germany
Foreign rate differential		(466)	5.4
Foreign-exchange tax effects		(2,060)	24.0
Change in valuation allowance		3,117	(36.3)
Foreign deferred tax adjustments		494	(5.7)
Other foreign jurisdictions		173	(2.0)
Total foreign tax effects		1,258	(14.6)
Tax credits
Research and development tax credits		240	(2.8)
Changes in valuation allowance		1,509	(17.5)
Nontaxable or nondeductible items
Incentive stock options		151	(1.8)
Restricted stock units shortfall		136	(1.6)
Deferred true-ups		(348)	4.1
Expiring Federal NOL		362	(4.2)
Other		5	(0.1)
Total nontaxable or nondeductible items		306	(3.6)
Changes in unrecognized tax benefits
Federal R&D credit		(120)	1.4
Other
Consolidation and intercompany eliminations		(1,470)	17.1
Effective income tax rate	$	(401)	4.7	%

	Year Ended December 31,
	2024
Federal statutory rate	21.0	%
State taxes, net of federal benefit	2.6
Foreign rate differential	3.1
Permanent items	(3.6)
Other rate change and true-up	0.3
NJ NOL and R&D credit write-off	(8.4)
True up of foreign NOLs	(4.2)
NJ Amended NOL	1.8
Uncertain tax positions	(0.6)
Change in valuation allowance	(13.1)
R&D credit	1.1
Sale of 2023 NJ R&D & NOL	7.6
Other	—
Effective income tax rate	7.6	%

Schedule of reconciliation of the unrecognized tax benefit balances

	Year Ended December 31,
	2025		2024
	(amounts, in thousands)
Balance at beginning of the year	$	2,224	$	2,113
Increase for tax positions of prior years		(120)		(9)
Increase for tax positions in current year		—		120
Balance at end of the year	$	2,104	$	2,224