Nephros (NEPH) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-32288
Entity Registrant Name	NEPHROS, INC.
Entity Central Index Key	0001196298
Entity Tax Identification Number	13-3971809
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	380 Lackawanna Place
Entity Address, City or Town	South Orange
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07079
City Area Code	(201)
Local Phone Number	343-5202
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	NEPH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,484,932

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,622	$ 3,634
Accounts receivable, net	1,443	1,286
Inventory	2,268	3,153
Prepaid expenses and other current assets	173	188
Total current assets	8,506	8,261
Property and equipment, net	88	116
Lease right-of-use assets	750	984
Intangible assets, net	392	423
Goodwill	759	759
License and supply agreement, net	301	402
Other assets	123	54
TOTAL ASSETS	10,919	10,999
Current liabilities:
Current portion of secured note payable		71
Accounts payable	805	740
Accrued expenses	712	285
Current portion of lease liabilities	311	316
Total current liabilities	1,828	1,412
Equipment financing, net of current portion		1
Lease liabilities, net of current portion	469	705
TOTAL LIABILITIES	2,297	2,118
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS’ EQUITY
Preferred stock, $.001 par value; 5,000,000 shares authorized at September 30, 2023 and December 31, 2022; no shares issued and outstanding at September 30, 2023 and December 31, 2022.
Common stock, $.001 par value; 40,000,000 shares authorized at September 30, 2023 and December 31, 2022; 10,484,932 and 10,297,429 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively.	10	10
Additional paid-in capital	152,364	148,413
Accumulated deficit	(143,752)	(142,831)
Subtotal	8,622	5,592
Noncontrolling interest		3,289
TOTAL STOCKHOLDERS’ EQUITY	8,622	8,881
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 10,919	$ 10,999

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	10,484,932	10,297,429
Common stock, shares outstanding	10,484,932	10,297,429

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net revenue:
Total net revenues	$ 3,742	$ 2,409	$ 10,984	$ 7,417
Cost of goods sold	1,548	1,647	4,600	4,195
Gross margin	2,194	762	6,384	3,222
Operating expenses:
Selling, general and administrative	2,137	1,743	6,500	5,806
Research and development	205	252	665	896
Depreciation and amortization	55	48	163	162
Total operating expenses	2,397	2,043	7,328	6,864
Operating loss from continuing operations	(203)	(1,281)	(944)	(3,642)
Other (expense) income:
Interest expense		(4)	(1)	(17)
Interest income	11	4	36	7
Other income (expense), net	10	31	(12)	94
Total other expense:	21	31	23	84
Loss from continuing operations	(182)	(1,250)	(921)	(3,558)
Net loss from discontinued operations		(1,904)		(2,700)
Net loss	(182)	(3,154)	(921)	(6,258)
Less: Undeclared deemed dividend attributable to noncontrolling interest		(77)		(206)
Net loss attributable to Nephros, Inc. shareholders	$ (182)	$ (3,231)	$ (921)	$ (6,464)
Net loss per common share, basic from continuing operations	$ (0.02)	$ (0.12)	$ (0.09)	$ (0.35)
Net loss per common share, diluted from continuing operations	(0.02)	(0.12)	(0.09)	(0.35)
Net loss per common share, basic from discontinued operations		(0.18)		(0.26)
Net loss per common share, diluted from discontinued operations		(0.18)		(0.26)
Net loss per common share, basic	(0.02)	(0.30)	(0.09)	(0.61)
Net loss per common share, diluted	(0.02)	(0.30)	(0.09)	(0.61)
Net loss per common share, basic, attributable to continuing noncontrolling interest		(0.01)		(0.02)
Net loss per common share, diluted, attributable to continuing noncontrolling interest		(0.01)		(0.02)
Net loss per common share, basic, attributable to Nephros, Inc, shareholders	(0.02)	(0.31)	(0.09)	(0.63)
Net loss per common share, diluted, attributable to Nephros, Inc, shareholders	$ (0.02)	$ (0.31)	$ (0.09)	$ (0.63)
Weighted average common shares outstanding, basic	10,460,866	10,303,818	10,352,108	10,278,258
Weighted average common shares outstanding, diluted	10,460,866	10,303,818	10,352,108	10,278,258
Comprehensive loss:
Net loss	$ (182)	$ (3,154)	$ (921)	$ (6,258)
Other comprehensive loss, foreign currency translation adjustments, net of tax				(3)
Comprehensive loss	(182)	(3,154)	(921)	(6,261)
Comprehensive loss attributable to noncontrolling interest		(77)		(206)
Comprehensive loss attributable to Nephros, Inc. shareholders	(182)	(3,231)	(921)	(6,467)
Product [Member]
Net revenue:
Total net revenues	3,713	2,399	10,912	7,387
Royalty and Other Revenues [Member]
Net revenue:
Total net revenues	$ 29	$ 10	$ 72	$ 30

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 10	$ 147,346	$ 64	$ (135,725)	$ 11,695	$ 3,054	$ 14,749
Balance, shares at Dec. 31, 2021	10,198,712
Net loss				(1,967)	(1,967)		(1,967)
Change in non-controlling interest						188	188
Stock-based compensation		272			272		272
Net unrealized losses on foreign currency translation, net of tax			(3)		(3)		(3)
Exercise of warrants		163			163		163
Exercise of warrants, shares	60,374
Ending balance, value at Mar. 31, 2022	$ 10	147,781	61	(137,692)	10,160	3,242	13,402
Ending balance, shares at Mar. 31, 2022	10,259,086
Beginning balance, value at Dec. 31, 2021	$ 10	147,346	64	(135,725)	11,695	3,054	14,749
Balance, shares at Dec. 31, 2021	10,198,712
Net loss							(6,258)
Net unrealized losses on foreign currency translation, net of tax							(3)
Ending balance, value at Sep. 30, 2022	$ 10	148,275		(141,983)	6,302	3,279	9,581
Ending balance, shares at Sep. 30, 2022	10,303,818
Beginning balance, value at Mar. 31, 2022	$ 10	147,781	61	(137,692)	10,160	3,242	13,402
Balance, shares at Mar. 31, 2022	10,259,086
Net loss				(1,137)	(1,137)		(1,137)
Stock-based compensation		259			259	18	277
Restricted stock vesting
Restricted stock vesting, shares	44,732
Elimination of cumulative translation adjustment, upon closing of wholly owned foreign subsidiary			(61)		(61)		(61)
Ending balance, value at Jun. 30, 2022	$ 10	148,040		(138,829)	9,221	3,260	12,481
Ending balance, shares at Jun. 30, 2022	10,303,818
Net loss				(3,154)	(3,154)		(3,154)
Stock-based compensation		235			235	19	254
Net unrealized losses on foreign currency translation, net of tax
Ending balance, value at Sep. 30, 2022	$ 10	148,275		(141,983)	6,302	3,279	9,581
Ending balance, shares at Sep. 30, 2022	10,303,818
Beginning balance, value at Dec. 31, 2022	$ 10	148,413		(142,831)	5,592	3,289	8,881
Balance, shares at Dec. 31, 2022	10,297,429
Net loss				(306)	(306)		(306)
Change in non-controlling interest		3,262			3,262	(3,262)
Stock-based compensation		346			346	(27)	319
Ending balance, value at Mar. 31, 2023	$ 10	152,021		(143,137)	8,894		8,894
Ending balance, shares at Mar. 31, 2023	10,297,429
Beginning balance, value at Dec. 31, 2022	$ 10	148,413		(142,831)	5,592	3,289	8,881
Balance, shares at Dec. 31, 2022	10,297,429
Net loss							(921)
Net unrealized losses on foreign currency translation, net of tax
Ending balance, value at Sep. 30, 2023	$ 10	152,364		(143,752)	8,622		8,622
Ending balance, shares at Sep. 30, 2023	10,484,932
Beginning balance, value at Mar. 31, 2023	$ 10	152,021		(143,137)	8,894		8,894
Balance, shares at Mar. 31, 2023	10,297,429
Net loss				(433)	(433)		(433)
Stock-based compensation		194			194		194
Ending balance, value at Jun. 30, 2023	$ 10	152,215		(143,570)	8,655		8,655
Ending balance, shares at Jun. 30, 2023	10,297,429
Net loss				(182)	(182)		(182)
Stock-based compensation		149			149		149
Restricted stock vesting
Restricted stock vesting, shares	187,503
Net unrealized losses on foreign currency translation, net of tax
Ending balance, value at Sep. 30, 2023	$ 10	$ 152,364		$ (143,752)	$ 8,622		$ 8,622
Ending balance, shares at Sep. 30, 2023	10,484,932

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES:
Net loss	$ (921)	$ (6,258)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property and equipment	29	82
Amortization of intangible assets, license and supply agreement and finance lease right-of-use asset	134	214
Stock-based compensation, including stock options and restricted stock	662	803
Inventory obsolescence charge	106	773
Provision for bad debt expense	14	(1)
Impairment of assets held for sale		1,395
Gain on foreign currency transactions		(60)
Decrease (increase) in operating assets:
Accounts receivable	(171)	269
Inventory	778	429
Prepaid expenses and other current assets	15	28
Right-of-use assets	234	262
Other assets	(69)	26
(Decrease) increase in operating liabilities:
Accounts payable	65	(555)
Accrued expenses	425	(174)
Lease liabilities	(237)	(272)
Net cash provided by (used in) operating activities	1,064	(3,039)
INVESTING ACTIVITIES:
Purchase of property and equipment		(137)
Net cash used in investing activities		(137)
FINANCING ACTIVITIES:
Proceeds from sale of subsidiary preferred shares to noncontrolling interest		188
Principal payments on finance lease liability	(4)	(3)
Principal payments on equipment financing	(1)	(2)
Payments on secured note payable	(71)	(201)
Proceeds from exercise of warrants		163
Net cash provided by (used in) financing activities	(76)	145
Effect of exchange rates on cash and cash equivalents		(2)
Net increase (decrease) in cash and cash equivalents	988	(3,033)
Cash and cash equivalents, beginning of period	3,634	6,973
Cash and cash equivalents, end of period	4,622	3,940
Supplemental disclosure of cash flow information
Cash paid for interest	6	17
Supplemental disclosure of noncash investing and financing activities
Right-of-use asset obtained in exchange for operating lease liability		$ 69

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Note 1 – Organization and Nature of Operations Nephros, Inc. (“Nephros” or the “Company”) was incorporated under the laws of the State of Delaware on April 3, 1997. The Company was founded by health professionals, scientists and engineers affiliated with Columbia University to develop advanced end stage renal disease (“ESRD”) therapy technology and products. Beginning in 2009, Nephros introduced high performance liquid purification filters to meet the demand for water purification in certain medical markets. The Company’s filters, generally classified as ultrafilters, are primarily used in hospitals for the prevention of infection from waterborne pathogens, such as legionella and pseudomonas, and in dialysis centers for the removal of biological contaminants from water and bicarbonate concentrate. The Company also develops and sells water filtration products for commercial applications, focusing on the hospitality and food service markets. On October 4, 2022, the Company entered into a definitive asset purchase agreement with a third party for the sale of substantially all of the Company’s Pathogen Detection Systems (“PDS”) business, which had been previously reported as a separate reportable operating segment. As a result of the sale of the PDS business, we completely exited the PDS business. As a result, we determined that our PDS business had met the criteria for discontinued operations as of September 30, 2022. We no longer separately report the PDS business as a separate reportable segment in our financial statements including in this Quarterly Report for any of the periods presented. In July 2018, the Company formed a subsidiary, Specialty Renal Products, Inc. (“SRP”), to drive the development of its second-generation hemodiafiltration system and other products focused on improving therapies for patients with renal disease. After SRP’s formation, the Company assigned to SRP all of the Company’s rights to three patents relating to the Company’s hemodiafiltration technology, which were carried at zero book value. On March 9, 2023, the SRP Stockholders approved a plan of dissolution to wind down SRP’s operations, liquidate SRP’s remaining assets and dissolve SRP. Pursuant to such plan, SRP filed a certificate of dissolution with the State of Delaware on April 13, 2023. As a result of the SRP Stockholders’ approval of the plan of dissolution and provisions therein and after satisfying all of SRP’s liabilities, there are no assets available for distribution to the holders of any of SRP’s capital stock, including its Series A Preferred Stock. As such, the value recorded to non-controlling interest was written to zero and the impact reclassified to the Company’s additional paid-in capital as the Company retained control of SRP. The Company’s primary U.S. facility is located at 380 Lackawanna Place, South Orange, New Jersey 07079. This location houses the Company’s corporate headquarters, research, manufacturing, and distribution facilities.

Basis of Presentation and Liqui

Basis of Presentation and Liquidity	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Liquidity	Note 2 – Basis of Presentation and Liquidity Interim Financial Information The accompanying unaudited consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 and Article 10 of Regulation S-X. The consolidated balance sheet as of December 31, 2022 was derived from the Company’s audited financial statements. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. Results as of and for the nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The consolidated interim financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Segment Reporting The Company operates in only one business segment from which the Company’s chief operating decision maker evaluates the financial performance of the Company. Consolidation The accompanying consolidated financial statements include the accounts of Nephros, Inc. and its subsidiaries, including the Company’s wholly owned subsidiary Nephros International, which was dissolved during the quarter ended June 30, 2022, and SRP, which was dissolved pursuant to a plan of dissolution adopted by its stockholders on March 9, 2023 and the subsequent filing of a certificate of dissolution with the State of Delaware on April 13, 2023. All intercompany accounts and transactions were eliminated in the preparation of the accompanying consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amount of revenues and expenses, during the reporting period. Actual results could differ materially from those estimates. Included in these estimates are assumptions about the collection of accounts receivable, value of inventories, useful life of fixed assets and intangible assets, the assessment of expected cash flows used in evaluating goodwill and other long-lived assets, and assumptions used in determining stock compensation such as expected volatility and risk-free interest rate. Liquidity In February 2022, pursuant to a First Amendment to Series A Preferred Stock Purchase Agreement (the “Amendment”) among SRP and the holders of SRP’s outstanding shares of Series A Preferred Stock, SRP issued and sold an additional 100,003 5.00 500,015 1.3 1.0 no The Company has sustained operating losses every quarter through December 31, 2022, generating an accumulated deficit of $ 143.8 1.1 Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires that an entity recognize contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification (“ASC”) 606. The guidance is effective for the Company beginning in the first quarter of fiscal year 2023 and should be applied prospectively. The Company adopted this guidance as of January 1, 2023 and the guidance did not have an impact on its consolidated financial statements. Concentration of Credit Risk The Company deposits its cash in financial institutions. At times, such deposits may be in excess of insured limits. To date, the Company has not experienced any impairment losses on its cash. The Company also limits its credit risk with respect to accounts receivable by performing credit evaluations when deemed necessary. Major Customers For the three months ended September 30, 2023, and 2022, the following customers accounted for the following percentages of the Company’s revenues, respectively: Schedule of Revenues and Accounts Receivable Percentage of Major Customers Customer 2023 2022 A 35 % 33 % B 13 % 4 % Total 48 % 37 % For the nine months ended September 30, 2023, and 2022, the following customers accounted for the following percentages of the Company’s revenues, respectively: Customer 2023 2022 A 24 % 24 % B 11 % 10 % Total 35 % 34 % As of September 30, 2023, and December 31, 2022, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively: Customer 2023 2022 C 15 % 10 % A 14 % 21 % B 4 % 10 % Total 33 % 41 % Accounts Receivable The Company recognizes an allowance that reflects a current estimate of credit losses expected to be incurred over the life of a financial asset, including trade receivables. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses. The Company determines its allowance for doubtful accounts by considering a number of factors, including the length of time balances are past due, the Company’s previous loss history, the customer’s current ability to pay its obligations to the Company and the expected condition of the general economy and the industry as a whole. The Company writes off accounts receivable when they are determined to be uncollectible. The allowance for doubtful accounts was approximately $ 14,000 no Depreciation Expense Depreciation related to equipment utilized in the manufacturing process is recognized in cost of goods sold on the consolidated statements of operations and comprehensive loss. For the three and nine months ended September 30, 2023, depreciation expense was approximately $ 1,000 3,000 3,000 19,000

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 3 – Revenue Recognition The Company recognizes revenue related to product sales when product is shipped via external logistics providers and the other criteria of ASC 606 are met. Product revenue is recorded net of returns and allowances. There was no allowance for sales returns for the three and nine months ended September 30, 2023, or 2022. In addition to product revenue, the Company recognizes revenue related to royalty and other agreements in accordance with the five-step model in ASC 606. Other revenues recognized for the three and nine months ended September 30, 2023 were approximately $ 29,000 72,000 10,000 30,000 Other Revenue – Other revenues are derived from sales of services to customers, which primarily include installation, training and testing on products and equipment sold to certain customers.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Note 4 – Discontinued Operations In accordance with ASC 205-20, “Presentation of Financial Statements: Discontinued Operations”, a disposal of a component of an entity or a group of components of an entity (disposal group) is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the disposal group meets the criteria to be classified as held-for-sale. The consolidated statements of operations reported for current and prior periods report the results of operations of the discontinued operations, including the impairment loss recognized as a component of net income (loss) separate from the net income (loss) from continuing operations. All discontinued operations relate to the Company’s previously reported PDS segment, for the three and nine months ended September 30, 2022. Schedule of Assets and Liabilities of Discontinued Operations Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 (in thousands) (in thousands) Total net revenues $ 79 $ 141 Gross loss (149 ) (211 ) Research and development expenses 192 556 Depreciation and amortization expense 7 21 Selling, general and administrative expenses 161 517 Total operating expenses 360 1,094 Operating loss from discontinued operations (509 ) (1,305 ) Impairment of assets held for sale (1,395 ) (1,395 ) Loss from discontinued operations $ (1,904 ) $ (2,700 ) The following items related to discontinued operations were included in the condensed consolidated statement of cash flows: For the nine months ended, September 30, 2022 (in thousands) Depreciation $ 42 Amortization 82 Stock compensation 66 Impairment of assets held-for-sale 1,395 Operating lease right-of-use assets 33 Purchases of property and equipment (34 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 5 – Fair Value Measurements The Company measures certain financial instruments and other items at fair value. To determine the fair value, the Company uses the fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable: Level 1 Level 2 – Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification for each reporting period. At September 30, 2023 and December 31, 2022, the Company’s cash equivalents consisted of money market funds and certificates of deposit that can be withdrawn before maturity. The Company values its cash equivalents using observable inputs that reflect quoted prices for securities with identical characteristics and classify the valuation techniques that use these inputs as Level 1. At September 30, 2023 and December 31, 2022, the fair value measurements of the Company’s assets and liabilities measured on a recurring basis were as follows: Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) September 30, 2023 Cash $ 1,320 $ $ Money market funds 1,802 Certificate of deposit 1,500 Cash and cash equivalents $ 4,622 $ - $ - December 31, 2022 Cash $ 1,598 $ $ Money market funds 2,036 Cash and cash equivalents $ 3,634 $ - $ - Assets and Liabilities Not Measured at Fair Value on a Recurring Basis The carrying amounts of accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term maturity of these instruments. The carrying amounts of the secured long-term note payable, lease liabilities and equipment financing approximate fair value as of September 30, 2023 and December 31, 2022 because those financial instruments bear interest at rates that approximate current market rates for similar agreements with similar maturities and credit.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory	Note 6 – Inventory Inventory is stated at the lower of cost or net realizable value using the first-in, first-out method and consists of raw materials and finished goods. The Company’s inventory components as of September 30, 2023 and December 31, 2022, were as follows: Schedule of Inventory, Net September 30, 2023 December 31, 2022 (in thousands) Finished goods $ 1,895 $ 2,709 Raw materials 373 422 Work in process - 22 Total inventory $ 2,268 $ 3,153

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Note 7 – Intangible Assets and Goodwill Intangible Assets Intangible assets as of September 30, 2023 and December 31, 2022 are set forth in the table below. Gross carrying values and accumulated amortization of the Company’s intangible assets by type are as follows: Schedule of Intangible Assets September 30, 2023 December 31, 2022 Cost Accumulated Amortization Net Cost Accumulated Amortization Net (in thousands) Tradenames, service marks and domain names $ 50 $ (47 ) $ 3 $ 50 $ (40 ) $ 10 Customer relationships 540 (151 ) 389 540 (127 ) 413 Total intangible assets $ 590 $ (198 ) $ 392 $ 590 $ (167 ) $ 423 The Company recognized amortization expense of approximately $ 11,000 The Company recognized amortization expense of approximately $ 31,000 As of September 30, 2023, future amortization expense for each of the next five years is (in thousands): Schedule of Future Amortization Expense Fiscal Years 2023 (excluding the nine months ended September 30, 2023) $ 11 2024 32 2025 32 2026 32 2027 32 2028 32 The Company recognized approximately $ 1.0 Goodwill Goodwill has a carrying value on the Company’s consolidated balance sheets of approximately $ 0.8

License and Supply Agreement, n

License and Supply Agreement, net	9 Months Ended
	Sep. 30, 2023
License And Supply Agreement Net
License and Supply Agreement, net	Note 8 – License and Supply Agreement, net On April 23, 2012, the Company entered into a License and Supply Agreement (as thereafter amended, the “License and Supply Agreement”) with Medica S.p.A. (“Medica”), an Italy-based medical product manufacturing company, for the marketing and sale of certain filtration products based upon Medica’s proprietary Medisulfone ultrafiltration technology in conjunction with the Company’s filtration products, and for an exclusive supply arrangement for the filtration products. Under the License and Supply Agreement, Medica granted to the Company an exclusive license, with right of sublicense, to market, promote, distribute, offer for sale and sell the filtration products worldwide, with certain limitations on territory, during the term of the License and Supply Agreement. In addition, the Company granted to Medica an exclusive license under the Company’s intellectual property to make the filtration products during the term of the License and Supply Agreement. The filtration products covered under the License and Supply Agreement includes both certain products based on Medica’s proprietary Versatile microfiber technology and certain filtration products based on Medica’s proprietary Medisulfone ultrafiltration technology. The License and Supply Agreement expires on December 31, 2025, unless earlier terminated by either party in accordance with its terms. The Company is in active discussions to extend the License and Supply Agreement and expects to complete this extension prior to such termination date. In exchange for the license, the gross value of the intangible asset capitalized was $ 2.3 million. License and supply agreement, net, on the consolidated balance sheet is $ 0.3 million and $ 0.4 million as of September 30, 2023 and December 31, 2022, respectively. Accumulated amortization is $ 2 1.9 33,000 As of September 2013, the Company has an understanding with Medica whereby the Company has agreed to pay interest to Medica at a 12 no In addition, for the period beginning April 23, 2014 through December 31, 2025, the Company will pay Medica a royalty rate of 3 102,000 64,000 292,000 198,000 102,000 71,000

Secured Note Payable

Secured Note Payable	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Secured Note Payable	Note 9 – Secured Note Payable On March 27, 2018, the Company entered into a Secured Promissory Note Agreement (the “Secured Note”) with Tech Capital for a principal amount of $ 1.2 The Secured Note had a maturity date of April 1, 2023 8 Principal and interest payments were due on the first day of each month commencing on May 1, 2018 During the three months ended September 30, 2023, no payments were made under the Secured Note, as the Note was repaid in full at March 31, 2023. During the three months ended September 30, 2022, the Company made payments under the Secured Note of approximately $ 72,000 4,000 During the nine months ended September 30, 2023 and September 30, 2022, the Company made payments under the Secured Note of approximately $ 71,000 216,000 1,000 15,000

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases
Leases	Note 10 – Leases The Company has operating leases for corporate offices, an automobile and office equipment. The leases have remaining lease terms of 1 5 Lease cost, as presented below, includes costs associated with leases for which right-of-use (“ROU”) assets have been recognized as well as short-term leases. The components of total lease costs were as follows: Schedule of Components of Lease Cost Three months ended September 30, 2023 Three months ended September 30, 2022 (in thousands) Operating lease cost $ 90 $ 103 Finance lease cost: Amortization of right-of-use assets 2 2 Interest on lease liabilities - 1 Total finance lease cost 2 3 Variable lease cost 2 9 Total lease cost $ 94 $    115 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (in thousands) Operating lease cost $ 272 $ 316 Finance lease cost: Amortization of right-of-use assets 6 7 Interest on lease liabilities 2 4 Total finance lease cost 8 11 Variable lease cost 9 28 Total lease cost $ 289 $ 355 Supplemental cash flow information related to leases was as follows: Schedule of Supplemental Cash Flow Information Related to Leases Nine months ended September 30, 2023 Nine months ended September 30, 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 272 $ 316 Financing cash flows from finance leases $ 4 $ 3 Supplemental balance sheet information related to leases was as follows: Schedule of Supplemental Balance Sheet Information Related to Leases September 30, 2023 December 31, 2022 (in thousands) Operating lease right-of-use assets $ 744 $ 972 Finance lease right-of-use assets $ 6 $ 12 Current portion of operating lease liabilities $ 305 $ 309 Operating lease liabilities, net of current portion 469 700 Total operating lease liabilities $ 774 $ 1,009 Current portion of finance lease liabilities $ 6 $ 8 Finance lease liabilities, net of current portion - 4 Total finance lease liabilities $ 6 $ 12 Weighted average remaining lease term Operating leases 3.4 3.9 Finance leases 0.8 1.5 Weighted average discount rate Operating leases 8.0 % 8.0 % Finance leases 8.0 % 8.0 % As of September 30, 2023, maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities Operating Leases Finance Leases (in thousands) 2023 (excluding the nine months ended September 30, 2023) $ 53 $ 2 2024 299 4 2025 163 - 2026 168 - 2027 158 - Total future minimum lease payments 841 6 Less imputed interest (67 ) - Total $ 774 $ 6

Stock Plans and Share-Based Pay

Stock Plans and Share-Based Payments	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Plans and Share-Based Payments	Note 11 – Stock Plans and Share-Based Payments The fair value of stock options and restricted stock is recognized as stock-based compensation expense in the Company’s consolidated statement of operations and comprehensive loss. The Company calculates stock-based compensation expense in accordance with ASC 718. The fair value of stock-based awards is amortized over the vesting period of the award. Stock Options The Company granted stock options to purchase 6,000 453,065 0.4 The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. The below assumptions for the risk-free interest rates, expected dividend yield, expected lives and expected stock price volatility were utilized for the stock options granted during the nine months ended September 30, 2023. Schedule of Fair Value Assumptions Assumptions for Option Grants Stock Price Volatility 74.03 % Risk-Free Interest Rate 3.44 % Expected Life (in years) 6.21 Expected Dividend Yield - % Stock-based compensation expense related to stock options was approximately $ 137,000 251,000 134,000 3,000 227,000 24,000 Stock-based compensation expense related to stock options was $ 486,000 724,000 450,000 36,000 669,000 55,000 There was no 819,000 2.4 Restricted Stock Total stock-based compensation expense for restricted stock on the Company’s consolidated statement of operations was approximately $ 12,000 ($16,000) 15,000 12,000 ($16,000) Total stock-based compensation expense for restricted stock was approximately $ 49,000 42,000 49,000 23,781 133,722 30,000 six months 42,000 As of September 30, 2023, there was no SRP Equity Incentive Plan SRP’s 2019 Equity Incentive Plan was approved on May 7, 2019 under which 150,000 Due to the Company’s deemed acquisition of the non-controlling interest in SRP during the nine months ended September 30, 2023, all remaining equity-based awards have been forfeited and no further expense will be incurred related to these awards. There were no SRP stock options or other equity awards granted during the nine months ended September 30, 2023. For the nine months ended September 30, 2023, a credit of approximately ($27,000) 19,000 37,000

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders’ Equity	Note 12 – Stockholders’ Equity Noncontrolling Interest Pursuant to the terms and conditions of a Series A Preferred Stock Purchase Agreement, dated September 9, 2018, among SRP and the purchasers identified therein (the “SRP Purchase Agreement”), SRP sold to such purchasers an aggregate of 600,000 5.00 3.0 100,003 500,015 188,000 62,500 62.5 313 36 25,938 1.3 1.0 As of December 31, 2022, the non-controlling interest in SRP held by holders of the Series A Preferred has been classified as equity on the accompanying consolidated interim balance sheet, as the non-controlling interest is redeemable only upon the occurrence of events that are within the control of the Company. As a result of the adoption of the plan of liquidation and dissolution by SRP’s stockholders and the subsequent filing of a certificate of dissolution of SRP with the State of Delaware, the redemption feature related to the Series A Preferred Stock effectively terminated. As such, the value of the Series A Preferred Stock previously presented in non-controlling interest was reclassified to additional paid in capital as the Company retained control of SRP. In March 2023, the board of directors of SRP adopted, and the stockholders of SRP approved, a plan to wind down SRP’s operations and dissolve, and in April 2023, SRP filed a certificate of dissolution with the State of Delaware. In accordance with its plan of dissolution, after SRP satisfied its other outstanding liabilities, SRP assigned to the Company all of its remaining assets, including its intellectual property rights, in satisfaction of outstanding indebtedness owed to the Company in the approximate amount of $ 1.5 24,000 Warrants During the three and nine months ended September 30, 2023, the Company had no During the nine months ended September 30, 2022, warrants to purchase 60,374 0.2 60,374 14,815 40,000 63,102

Net Loss per Common Share

Net Loss per Common Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Loss per Common Share	Note 13 – Net Loss per Common Share Basic loss per common share is calculated by dividing net loss available to common shareholders by the number of weighted average common shares issued and outstanding. Diluted loss per common share is calculated by dividing net loss available to common shareholders by the weighted average number of common shares issued and outstanding for the period, plus amounts representing the dilutive effect from the exercise of stock options and warrants and unvested restricted stock, as applicable. The Company calculates dilutive potential common shares using the treasury stock method, which assumes the Company will use the proceeds from the exercise of stock options and warrants to repurchase shares of common stock to hold in its treasury stock reserves. The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as they would be antidilutive: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share September 30, 2023 2022 Shares underlying options outstanding 1,767,443 1,492,247

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14 – Commitments and Contingencies Purchase Commitments In exchange for the rights granted under the License and Supply Agreement with Medica (see Note 8 – License and Supply Agreement, net), the Company agreed to make certain minimum annual aggregate purchases from Medica over the term of the License and Supply Agreement. For the year ended December 31, 2023, the Company has agreed to make minimum annual aggregate purchases from Medica of € 3.8 4.1 4.5 4.8 Contractual Obligations See Note 10 – Leases for a discussion of the Company’s contractual obligations.

Basis of Presentation and Liq_2

Basis of Presentation and Liquidity (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial Information The accompanying unaudited consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 and Article 10 of Regulation S-X. The consolidated balance sheet as of December 31, 2022 was derived from the Company’s audited financial statements. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. Results as of and for the nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The consolidated interim financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Segment Reporting	Segment Reporting The Company operates in only one business segment from which the Company’s chief operating decision maker evaluates the financial performance of the Company.
Consolidation	Consolidation The accompanying consolidated financial statements include the accounts of Nephros, Inc. and its subsidiaries, including the Company’s wholly owned subsidiary Nephros International, which was dissolved during the quarter ended June 30, 2022, and SRP, which was dissolved pursuant to a plan of dissolution adopted by its stockholders on March 9, 2023 and the subsequent filing of a certificate of dissolution with the State of Delaware on April 13, 2023. All intercompany accounts and transactions were eliminated in the preparation of the accompanying consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amount of revenues and expenses, during the reporting period. Actual results could differ materially from those estimates. Included in these estimates are assumptions about the collection of accounts receivable, value of inventories, useful life of fixed assets and intangible assets, the assessment of expected cash flows used in evaluating goodwill and other long-lived assets, and assumptions used in determining stock compensation such as expected volatility and risk-free interest rate.
Liquidity	Liquidity In February 2022, pursuant to a First Amendment to Series A Preferred Stock Purchase Agreement (the “Amendment”) among SRP and the holders of SRP’s outstanding shares of Series A Preferred Stock, SRP issued and sold an additional 100,003 5.00 500,015 1.3 1.0 no The Company has sustained operating losses every quarter through December 31, 2022, generating an accumulated deficit of $ 143.8 1.1
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires that an entity recognize contract assets and contract liabilities acquired in a business combination in accordance with Accounting Standards Codification (“ASC”) 606. The guidance is effective for the Company beginning in the first quarter of fiscal year 2023 and should be applied prospectively. The Company adopted this guidance as of January 1, 2023 and the guidance did not have an impact on its consolidated financial statements.
Concentration of Credit Risk	Concentration of Credit Risk The Company deposits its cash in financial institutions. At times, such deposits may be in excess of insured limits. To date, the Company has not experienced any impairment losses on its cash. The Company also limits its credit risk with respect to accounts receivable by performing credit evaluations when deemed necessary.
Major Customers	Major Customers For the three months ended September 30, 2023, and 2022, the following customers accounted for the following percentages of the Company’s revenues, respectively: Schedule of Revenues and Accounts Receivable Percentage of Major Customers Customer 2023 2022 A 35 % 33 % B 13 % 4 % Total 48 % 37 % For the nine months ended September 30, 2023, and 2022, the following customers accounted for the following percentages of the Company’s revenues, respectively: Customer 2023 2022 A 24 % 24 % B 11 % 10 % Total 35 % 34 % As of September 30, 2023, and December 31, 2022, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively: Customer 2023 2022 C 15 % 10 % A 14 % 21 % B 4 % 10 % Total 33 % 41 %
Accounts Receivable	Accounts Receivable The Company recognizes an allowance that reflects a current estimate of credit losses expected to be incurred over the life of a financial asset, including trade receivables. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses. The Company determines its allowance for doubtful accounts by considering a number of factors, including the length of time balances are past due, the Company’s previous loss history, the customer’s current ability to pay its obligations to the Company and the expected condition of the general economy and the industry as a whole. The Company writes off accounts receivable when they are determined to be uncollectible. The allowance for doubtful accounts was approximately $ 14,000 no
Depreciation Expense	Depreciation Expense Depreciation related to equipment utilized in the manufacturing process is recognized in cost of goods sold on the consolidated statements of operations and comprehensive loss. For the three and nine months ended September 30, 2023, depreciation expense was approximately $ 1,000 3,000 3,000 19,000

Basis of Presentation and Liq_3

Basis of Presentation and Liquidity (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Revenues and Accounts Receivable Percentage of Major Customers	For the three months ended September 30, 2023, and 2022, the following customers accounted for the following percentages of the Company’s revenues, respectively: Schedule of Revenues and Accounts Receivable Percentage of Major Customers Customer 2023 2022 A 35 % 33 % B 13 % 4 % Total 48 % 37 % For the nine months ended September 30, 2023, and 2022, the following customers accounted for the following percentages of the Company’s revenues, respectively: Customer 2023 2022 A 24 % 24 % B 11 % 10 % Total 35 % 34 % As of September 30, 2023, and December 31, 2022, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively: Customer 2023 2022 C 15 % 10 % A 14 % 21 % B 4 % 10 % Total 33 % 41 %

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities of Discontinued Operations	All discontinued operations relate to the Company’s previously reported PDS segment, for the three and nine months ended September 30, 2022. Schedule of Assets and Liabilities of Discontinued Operations Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 (in thousands) (in thousands) Total net revenues $ 79 $ 141 Gross loss (149 ) (211 ) Research and development expenses 192 556 Depreciation and amortization expense 7 21 Selling, general and administrative expenses 161 517 Total operating expenses 360 1,094 Operating loss from discontinued operations (509 ) (1,305 ) Impairment of assets held for sale (1,395 ) (1,395 ) Loss from discontinued operations $ (1,904 ) $ (2,700 ) The following items related to discontinued operations were included in the condensed consolidated statement of cash flows: For the nine months ended, September 30, 2022 (in thousands) Depreciation $ 42 Amortization 82 Stock compensation 66 Impairment of assets held-for-sale 1,395 Operating lease right-of-use assets 33 Purchases of property and equipment (34 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At September 30, 2023 and December 31, 2022, the fair value measurements of the Company’s assets and liabilities measured on a recurring basis were as follows: Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (in thousands) September 30, 2023 Cash $ 1,320 $ $ Money market funds 1,802 Certificate of deposit 1,500 Cash and cash equivalents $ 4,622 $ - $ - December 31, 2022 Cash $ 1,598 $ $ Money market funds 2,036 Cash and cash equivalents $ 3,634 $ - $ -

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Schedule of Inventory, Net September 30, 2023 December 31, 2022 (in thousands) Finished goods $ 1,895 $ 2,709 Raw materials 373 422 Work in process - 22 Total inventory $ 2,268 $ 3,153

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets as of September 30, 2023 and December 31, 2022 are set forth in the table below. Gross carrying values and accumulated amortization of the Company’s intangible assets by type are as follows: Schedule of Intangible Assets September 30, 2023 December 31, 2022 Cost Accumulated Amortization Net Cost Accumulated Amortization Net (in thousands) Tradenames, service marks and domain names $ 50 $ (47 ) $ 3 $ 50 $ (40 ) $ 10 Customer relationships 540 (151 ) 389 540 (127 ) 413 Total intangible assets $ 590 $ (198 ) $ 392 $ 590 $ (167 ) $ 423
Schedule of Future Amortization Expense	As of September 30, 2023, future amortization expense for each of the next five years is (in thousands): Schedule of Future Amortization Expense Fiscal Years 2023 (excluding the nine months ended September 30, 2023) $ 11 2024 32 2025 32 2026 32 2027 32 2028 32

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases
Schedule of Components of Lease Cost	The components of total lease costs were as follows: Schedule of Components of Lease Cost Three months ended September 30, 2023 Three months ended September 30, 2022 (in thousands) Operating lease cost $ 90 $ 103 Finance lease cost: Amortization of right-of-use assets 2 2 Interest on lease liabilities - 1 Total finance lease cost 2 3 Variable lease cost 2 9 Total lease cost $ 94 $    115 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (in thousands) Operating lease cost $ 272 $ 316 Finance lease cost: Amortization of right-of-use assets 6 7 Interest on lease liabilities 2 4 Total finance lease cost 8 11 Variable lease cost 9 28 Total lease cost $ 289 $ 355
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: Schedule of Supplemental Cash Flow Information Related to Leases Nine months ended September 30, 2023 Nine months ended September 30, 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 272 $ 316 Financing cash flows from finance leases $ 4 $ 3
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: Schedule of Supplemental Balance Sheet Information Related to Leases September 30, 2023 December 31, 2022 (in thousands) Operating lease right-of-use assets $ 744 $ 972 Finance lease right-of-use assets $ 6 $ 12 Current portion of operating lease liabilities $ 305 $ 309 Operating lease liabilities, net of current portion 469 700 Total operating lease liabilities $ 774 $ 1,009 Current portion of finance lease liabilities $ 6 $ 8 Finance lease liabilities, net of current portion - 4 Total finance lease liabilities $ 6 $ 12 Weighted average remaining lease term Operating leases 3.4 3.9 Finance leases 0.8 1.5 Weighted average discount rate Operating leases 8.0 % 8.0 % Finance leases 8.0 % 8.0 %
Schedule of Maturities of Lease Liabilities	As of September 30, 2023, maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities Operating Leases Finance Leases (in thousands) 2023 (excluding the nine months ended September 30, 2023) $ 53 $ 2 2024 299 4 2025 163 - 2026 168 - 2027 158 - Total future minimum lease payments 841 6 Less imputed interest (67 ) - Total $ 774 $ 6

Stock Plans and Share-Based P_2

Stock Plans and Share-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Fair Value Assumptions	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. The below assumptions for the risk-free interest rates, expected dividend yield, expected lives and expected stock price volatility were utilized for the stock options granted during the nine months ended September 30, 2023. Schedule of Fair Value Assumptions Assumptions for Option Grants Stock Price Volatility 74.03 % Risk-Free Interest Rate 3.44 % Expected Life (in years) 6.21 Expected Dividend Yield - %

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as they would be antidilutive: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share September 30, 2023 2022 Shares underlying options outstanding 1,767,443 1,492,247

Schedule of Revenues and Accoun

Schedule of Revenues and Accounts Receivable Percentage of Major Customers (Details) - Customer Concentration Risk [Member]	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Customer A [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Total	35%	33%	24%	24%
Customer A [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			14%		21%
Customer B [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Total	13%	4%	11%	10%
Customer B [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			4%		10%
Customer Total [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Total	48%	37%	35%	34%
Customer Total [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			33%		41%
Customer C [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			15%		10%

Basis of Presentation and Liq_4

Basis of Presentation and Liquidity (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Feb. 28, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2020	Dec. 31, 2022
Retained earnings (accumulated deficit)		$ 143,752,000		$ 143,752,000			$ 142,831,000
Net cash provided by (used in) operating activities				1,064,000	$ (3,039,000)
Allowance for doubtful accounts receivable		14,000		14,000			$ 0
Depreciation expense		1,000	$ 3,000	3,000	$ 19,000
Specialty Renal Products, Inc. [Member] | Loan Agreement [Member]
Repayments of debt						$ 1,300,000
Proceeds from loans						$ 1,000,000
Loans payable		$ 0		$ 0
Specialty Renal Products, Inc. [Member] | Series A Preferred Stock [Member] | SRP Purchase Agreement [Member]
Number of shares sold in transaction	100,003
Share price	$ 5
Gross proceeds received through transaction	$ 500,015

Revenue Recognition (Details Na

Revenue Recognition (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total net revenues	$ 3,742	$ 2,409	$ 10,984	$ 7,417
Royalty and Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	$ 29	$ 10	$ 72	$ 30

Schedule of Assets and Liabilit

Schedule of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Total net revenues		$ 79		$ 141
Gross loss		(149)		(211)
Research and development expenses		192		556
Depreciation and amortization expense		7		21
Selling, general and administrative expenses		161		517
Total operating expenses		360		1,094
Operating loss from discontinued operations		(509)		(1,305)
Impairment of assets held for sale		(1,395)		(1,395)
Loss from discontinued operations		$ (1,904)		(2,700)
Depreciation				42
Amortization				82
Stock compensation				66
Impairment of assets held-for-sale				1,395
Operating lease right-of-use assets				33
Purchases of property and equipment				$ (34)

Schedule of Assets and Liabil_2

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash	$ 1,320	$ 1,598
Money market funds	1,802	2,036
Certificate of deposit	1,500
Cash and cash equivalents	4,622	3,634
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents

Schedule of Inventory, Net (Det

Schedule of Inventory, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 1,895	$ 2,709
Raw materials	373	422
Work in process		22
Total inventory	$ 2,268	$ 3,153

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 590	$ 590
Accumulated Amortization	(198)	(167)
Total Intangible Assets, Net	392	423
Tradenames, Service Marks and Domain Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	50	50
Accumulated Amortization	(47)	(40)
Total Intangible Assets, Net	3	10
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	540	540
Accumulated Amortization	(151)	(127)
Total Intangible Assets, Net	$ 389	$ 413

Schedule of Future Amortization

Schedule of Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (excluding the nine months ended September 30, 2023)	$ 11
2024	32
2025	32
2026	32
2027	32
2028	$ 32

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 11	$ 11	$ 31	$ 31
Intangible asset impairment charges		$ 1,000		$ 1,000
Goodwill	$ 759		$ 759		$ 759

License and Supply Agreement,_2

License and Supply Agreement, net (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Sep. 30, 2013
Gross value of intangible asset capitalized	$ 2,300,000		$ 2,300,000
Licence agreements,net	301,000		301,000		$ 402,000
Accumulated Amortization	(198,000)		(198,000)		(167,000)
Amortization of intangible assets	11,000	$ 11,000	31,000	$ 31,000
Accounts Payable [Member]
Royalty expense			102,000		71,000
Cost of Goods Sold [Member]
Royalty expense	102,000	64,000	292,000	198,000
Medica [Member]
Debt instrument, interest rate, stated percentage						12%
License and Supply Agreement [Member]
Accumulated Amortization	2,000,000		2,000,000		$ 1,900,000
Amortization of intangible assets	$ 33,000	$ 33,000
Interest expense, debt			$ 0	$ 0
License and Supply Agreement [Member] | Medica [Member] | April 23, 2014 through December 31, 2025 [Member]
Royalty rate			3%

Secured Note Payable (Details N

Secured Note Payable (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 27, 2018
Short-Term Debt [Line Items]
Interest expense		$ 4,000	$ 1,000	$ 17,000
Secured Note [Member]
Short-Term Debt [Line Items]
Repayments of notes payable		72,000	71,000	216,000
Interest expense		$ 4,000	$ 1,000	$ 15,000
Secured Promissory Note Agreement [Member] | Tech Capital, LLC [Member]
Short-Term Debt [Line Items]
Principal amount of secured note payable					$ 1,200,000
Maturity date			Apr. 01, 2023
Debt interest rate	8%		8%
Maturity date, description			Principal and interest payments were due on the first day of each month commencing on May 1, 2018

Schedule of Components of Lease

Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases
Operating lease cost	$ 90	$ 103	$ 272	$ 316
Finance lease cost:
Amortization of right-of-use assets	2	2	6	7
Interest on lease liabilities		1	2	4
Total finance lease cost	2	3	8	11
Variable lease cost	2	9	9	28
Total lease cost	$ 94	$ 115	$ 289	$ 355

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 272	$ 316
Financing cash flows from finance leases	$ 4	$ 3

Schedule of Supplemental Balanc

Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases
Operating lease right-of-use assets	$ 744	$ 972
Finance lease right-of-use assets	6	12
Current portion of operating lease liabilities	305	309
Operating lease liabilities, net of current portion	469	700
Total operating lease liabilities	774	1,009
Current portion of finance lease liabilities	6	8
Finance lease liabilities, net of current portion		4
Total finance lease liabilities	$ 6	$ 12
Weighted average remaining lease term, Operating leases	3 years 4 months 24 days	3 years 10 months 24 days
Weighted average remaining lease term, Finance leases	9 months 18 days	1 year 6 months
Operating leases	8%	8%
Finance leases	8%	8%

Schedule of Maturities of Lease

Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Operating Leases, 2023	$ 53
Operating Leases, 2024	299
Operating Leases, 2025	163
Operating Leases, 2026	168
Operating Leases, 2027	158
Operating Leases, Total future minimum lease payments	841
Operating Leases, Less imputed interest	(67)
Operating Leases, Total	774	$ 1,009
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Finance Leases, 2023	2
Finance Leases, 2024	4
Finance Leases, 2025
Finance Leases, 2026
Finance Leases, 2027
Finance Leases, Total future minimum lease payments	6
Finance Leases, Less imputed interest
Finance Leases, Total	$ 6	$ 12

Leases (Details Narrative)

Leases (Details Narrative)	Sep. 30, 2023
Minimum [Member]
Operating lease term	1 year
Maximum [Member]
Operating lease term	5 years

Schedule of Fair Value Assumpti

Schedule of Fair Value Assumptions (Details) - Employee Stock [Member]	9 Months Ended
	Sep. 30, 2023
Subsidiary, Sale of Stock [Line Items]
Stock Price Volatility	74.03%
Risk-Free Interest Rates	3.44%
Expected Life (in years)	6 years 2 months 15 days
Expected Dividend Yield

Stock Plans and Share-Based P_3

Stock Plans and Share-Based Payments (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	May 07, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Income tax benefit	$ 0	$ 0	$ 0	$ 0
Unrecognized compensation expense	819,000		$ 819,000
Unrecognized compensation expense, period for recognition			2 years 4 months 24 days
SRP Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		19,000	$ (27,000)	37,000
Number of shares reserved and authorized for awards					150,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	137,000	251,000	486,000	724,000
Share-Based Payment Arrangement, Option [Member] | Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	134,000	227,000	450,000	669,000
Share-Based Payment Arrangement, Option [Member] | Research and Development Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	3,000	24,000	36,000	55,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	12,000		$ 49,000	42,000
credit of expense due to forfeiture		(16,000)
Forfeiture of unvested restricted stock		16,000
Vesting period			6 months
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		(16,000)	$ 49,000	$ 42,000
Unvested Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
credit of expense due to forfeiture		(15,000)
Forfeiture of unvested restricted stock		$ 15,000
Unrecognized compensation expense	$ 0		$ 0
Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted	6,000		453,065
Fair value of stock options granted	$ 400,000		$ 400,000
Employees [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued			23,781
Board [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued			133,722
Contractors [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued			30,000

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)				1 Months Ended		3 Months Ended	9 Months Ended		12 Months Ended
	Feb. 04, 2022	Feb. 01, 2022	Sep. 09, 2018	Mar. 31, 2023	Feb. 28, 2022	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2020
Class of Stock [Line Items]
Inventory write down							$ 106,000	$ 773,000
Proceeds from warrants exercised								$ 163,000
Warrant [Member]
Class of Stock [Line Items]
Warrants outstanding							0
Warrants to purchase common stock exercised								60,374
Proceeds from warrants exercised								$ 200,000
Number of warrant expired								63,102
Management [Member] | Warrant [Member]
Class of Stock [Line Items]
Warrants to purchase common stock exercised								14,815
Proceeds from warrants exercised								$ 40,000
Specialty Renal Products, Inc. [Member]
Class of Stock [Line Items]
Outstanding indebtness				$ 1,500,000
Inventory write down						$ 24,000,000
Specialty Renal Products, Inc. [Member] | Chief Executive Officer [Member]
Class of Stock [Line Items]
Number of shares issued for common stock					313
Specialty Renal Products, Inc. [Member]
Class of Stock [Line Items]
Number of shares issued for common stock					62,500
Ownership percentage					62.50%
Specialty Renal Products, Inc. [Member] | Lambda Investors LLC [Member] | Series A Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares issued for common stock					25,938
Ownership percentage					36%
Series A Preferred Stock Purchase Agreement [Member]
Class of Stock [Line Items]
Sale of stock			600,000
Sale of stock price per share			$ 5
Proceeds from sale of stock			$ 3,000,000
SRP Purchase Agreement Closing [Member]
Class of Stock [Line Items]
Sale of stock		100,003
Proceeds from sale of stock	$ 500,015
Sale of stock					$ 188,000
Loan Agreement [Member] | Specialty Renal Products, Inc. [Member]
Class of Stock [Line Items]
Repayments of debt									$ 1,300,000
Proceeds from Loans									$ 1,000,000

Schedule of Antidilutive Securi

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,767,443	1,492,247

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - License and Supply Agreement [Member] - Medica Spa [Member] € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)
Purchase commitment, minimum amount committed			$ 4.8	€ 4.5
Forecast [Member]
Long-term purchase commitment, amount	$ 4.1	€ 3.8