Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected income tax (benefit) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

	Year ended December 31,
	2023			2022
Income tax computed at federal statutory tax rate		21.00	%		21.00	%
State taxes		5.21	%		(5.85	)%
Permanent differences – non-deductible expenses		(0.48	)%		(37.93	)%
Change in fair value of contingent consideration		(0.10	)%		133.62	%
Change in fair value of warrant liabilities		3.27	%		576.27	%
Gain on legal settlement		2.61	%		-
True-ups		(0.08	)%		(7.42	)%
Federal R&D Credits		0.04	%		-
Change in valuation allowance		(31.61	)%		(685.54	)%
Effective income tax rate		(0.14	)%		(5.85	)%

Schedule of Deferred Tax Assets and Liabilities

The principal components of the Company’s deferred tax assets and liabilities consist of the following at December 31, 2023 and 2022:

(in thousands)	December 31, 2023			December 31, 2022
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	36,964		$	30,450
Credit Carryforward		8			-
Intangible assets		4,270			4,824
Acquisition contract liabilities		-			(96	)
Property and equipment		129			123
Accrued expenses and reserves		393			890
Stock based compensation		711			449
Lease liability		391			361
Other		40			-
ROU asset		(422	)		(369	)
Investment revaluation		43			(469	)
Total deferred tax assets		42,527			36,163
Less valuation allowance		(42,527	)		(36,163	)
Net deferred taxes	$	-		$	-