INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

COMPOSITION OF LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

(a) Composition of loss before income taxes is as follows (in thousands):

	Year ended December 31,
	2022			2021
Domestic	$	(631	)	$	(13	)

COMPONENTS OF INCOME TAX EXPENSE

Income tax expense consists of the following (in thousands):

	Year ended December 31,
	2022		2021
Current:
Federal	$	—	$	—
State and local		—		—
		—		—
Deferred:
Federal		—		—
State and local		—		—
		—		—
Total income tax expense	$	—	$	—

SUMMARY OF RECONCILIATION BETWEEN FEDERAL TAX RATE

Set forth below is a reconciliation between the federal tax rate and the Company’s effective income tax rates with respect to continuing operations:

	Year ended December 31,
	2022			2021
Statutory Federal rates		21	%		21	%
Increase (decrease) in income tax rate resulting from:
Other, net (primarily permanent differences)		(3	)%		(121	)%
Valuation allowance		(18	)%		100	%
Effective income tax rates		—	%		(—	)%

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

(c) Analysis of Deferred Tax Assets and (Liabilities) (in thousands):

	As of December 31,
	2022			2021
Deferred tax assets (liabilities) consist of the following:
Employee benefits and deferred compensation	$	49		$	1,064
Other temporary differences		378			630
Section 174 Expenditures		205			—
Net operating loss and capital loss carryforwards		16,021			15,904
		16,653			17,598
Valuation allowance		(16,653	)		(17,598	)
Net deferred tax assets	$	—		$	—

SUMMARY OF TAX LOSS CARRYFORWARDS

As of December 31, 2022, the Company had various operating loss carryforwards expiring as follows (in thousands):

Expiration	Federal		Capital Loss		State
2023	$	—	$	556	$	—
2025 – 2031*		2,580		—		—
2032 – 2037		63,180		—		14,898
Unlimited		5,176		—		1,896
Total	$	70,936	$	556	$	16,794

* The utilization of a portion of these net operating loss carryforwards is limited due to limits on utilizing net operating loss carryforwards under Internal Revenue Service regulations for separate return limitation years.