INCOME TAXES |
3 Months Ended |
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Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
7. INCOME TAXES
The Company provides for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The issuance of shares in connection with the Company’s IPO, as well as prior share issuances, may result in limitations on the utilization of the Company’s net operating loss carryforwards under IRC section 382. As of March 31, 2026, and December 31, 2025, the Company had a full valuation allowance against its deferred tax assets.
No provision or benefit for U.S. federal, state, or Australian income taxes has been recorded for the three months ended March 31, 2026 and 2025, mainly due to net losses incurred by the Company. A provision of $339 and zero for Romanian income tax was recorded for the three months ended March 31, 2026 and 2025.
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- References No definition available.
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- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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