Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Pretax Income (Loss)

Pretax income (loss) resulting from domestic and foreign operations is as follows (in thousands):

	2020			2019
United States	$	(12,269	)	$	(9,502	)
United Kingdom		(4,683	)		100
Other Foreign Jurisdictions		(21	)		-
Total Pretax book income	$	(16,973	)	$	(9,402	)

Schedule of Component of Income Tax Benefit

The components of income tax benefit at December 31, 2020 and December 31, 2019, are as follows (in thousands):

	2020			2019
Current:
Federal	$	-		$	-
State		-			-
Foreign		645
Total Current	$	645		$	-
Deferred:
Federal	$	-		$	-
State		-			-
Foreign		(1,466	)
Total Deferred	$	(1,466	)	$	-
Total	$	(821	)	$	-

Schedule of Reconciliation of Provision for Income Taxes

The reconciliation of the provision for income taxes at the United States Federal statutory rate compared to the Company’s income tax expense as reported is as follows (in thousands)

	2020			2019
Income (Loss) before income taxes
Income tax benefit computed at the statutory rate	$	(3,565	)	$	(1,975	)
Foreign tax rate differential		99			-
Loss on debt settlement		650			-
Non-deductible expenses		212			386
Other book-tax differences		-			(1	)
Prior period true ups – temporary differences		525			-
Rate changes and differentials		61			(23	)
Change in valuation allowance		1,197			1,613
	$	(821	)	$	-

Schedule of Deferred Tax Assets

Tax effects of temporary differences at December 31, 2020 and December 31, 2019 are as follows (in thousands):

Deferred tax assets:	2020			2019
Fixed assets	$	62		$	14
Allowance for bad debts		281			197
Inventory		82			59
Accrued expenses		-			54
Deferred revenue		2,190			-
Stock compensation		300			-
Others		127			17
Interest Expense Limitation		955			640
Net operating loss carry-forwards		7,361			5,646
Deferred tax assets (liabilities)	$	11,358		$	6,627
Valuation allowance		(7,959	)		(6,627	)
Deferred tax assets	$	3,399		$	-
Net deferred tax assets	$	3,399		$	-

Deferred tax liabilities:	2020			2019
Intangible assets	$	(10,759	)	$	-
Accrued expenses		(404	)		-
Prepaid expenses		(139	)		-
Deferred tax liabilities	$	(11,302	)	$	-
Net deferred tax liabilities	$	(7,903	)	$	-