Income Taxes (FASB ASC 740 Income Taxes) (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Net Deferred Tax Assets and Liabilities

The components of the net deferred tax assets and liabilities as of December 31, 2021 and 2020 consist of the following:

	(in thousands)
Deferred tax assets:	December 31,
	2021			2020
Net operating losses	$	15,988		$	9,742
Research and Development costs		7,077
Amortization & depreciation		1,108			150
R&D credits		82			—
Other		54			—
Stock compensation		708			271
Total deferred tax assets		25,016			10,163
Deferred tax liabilities:
Research and development costs		—			(94	)
Deferred tax assets, net		25,016			10,069
Less: Valuation allowance		(23,711	)		(9,437	)
Deferred tax assets, net		1,305			632

Schedule of Effective Tax Rate and Statutory Tax Rate

Reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate is as follows (in thousands):

Pre Tax Book Loss	$	(19,127	)
Federal Rate		(4,017	)	21.00	%
State Taxes		(105	)	0.60	%
RTP		54		-0.28	%
Valuation Allowance		4,068		-21.32	%
Total		—		0.00	%