Nephros (NEPH) 10-Q 14 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - $ / shares	9 Months Ended
	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
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		10,544,225
Entity Listing, Par Value Per Share	$ 0.001

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,457	$ 4,307
Accounts receivable, net	1,691	1,496
Inventory	3,099	2,470
Prepaid expenses and other current assets	109	132
Total current assets	7,356	8,405
Property and equipment, net	173	152
Lease right-of-use assets	1,461	1,807
Intangible assets, net	357	381
Goodwill	759	759
License and supply agreement, net	230	271
Other assets	50	86
TOTAL ASSETS	10,386	11,861
Current liabilities:
Accounts payable	398	873
Accrued expenses	322	794
Current portion of lease liabilities	338	446
Total current liabilities	1,058	2,113
Lease liabilities, net of current portion	1,154	1,390
TOTAL LIABILITIES	2,212	3,503
STOCKHOLDERS’ EQUITY
Preferred stock, $.001 par value; 5,000,000 shares authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023.
Common stock, $.001 par value; 40,000,000 shares authorized at September 30, 2024 and December 31, 2023; 10,544,139 and 10,543,675 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively.	11	10
Additional paid-in capital	152,844	152,754
Accumulated deficit	(144,681)	(144,406)
TOTAL STOCKHOLDERS’ EQUITY	8,174	8,358
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 10,386	$ 11,861

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
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	10,544,139	10,543,675
Common stock, shares outstanding	10,544,139	10,543,675

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net revenue:
Total net revenues	$ 3,518	$ 3,742	$ 10,292	$ 10,984
Cost of goods sold	1,369	1,548	4,044	4,600
Gross margin	2,149	2,194	6,248	6,384
Operating expenses:
Selling, general and administrative	1,721	2,137	5,804	6,500
Research and development	188	205	654	665
Depreciation and amortization	34	55	101	163
Total operating expenses	1,943	2,397	6,559	7,328
Operating income (loss)	206	(203)	(311)	(944)
Other (expense) income:
Interest expense			(1)	(1)
Interest income	20	11	66	36
Other income (expense), net	(43)	10	(29)	(12)
Total other expense (income), net:	(23)	21	36	23
Net income (loss)	$ 183	$ (182)	$ (275)	$ (921)
Net income (loss) per common share, basic	$ 0.02	$ (0.02)	$ (0.03)	$ (0.09)
Net income (loss) per common share, diluted	$ 0.02	$ (0.02)	$ (0.03)	$ (0.09)
Weighted average common shares outstanding, basic	10,544,139	10,460,866	10,518,742	10,352,108
Weighted average common shares outstanding, diluted	10,580,906	10,460,866	10,518,742	10,352,108
Product [Member]
Net revenue:
Total net revenues	$ 3,472	$ 3,713	$ 10,186	$ 10,912
Royalty and Other Revenues [Member]
Net revenue:
Total net revenues	$ 46	$ 29	$ 106	$ 72

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance 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 income (loss)			(306)	(306)		(306)
Stock-based compensation		346		346	(27)	319
Change in non-controlling interest		3,262		3,262	(3,262)
Balance at Mar. 31, 2023	$ 10	152,021	(143,137)	8,894		8,894
Balance, shares at Mar. 31, 2023	10,297,429
Balance 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 income (loss)						(921)
Balance at Sep. 30, 2023	$ 10	152,364	(143,752)	8,622		8,622
Balance, shares at Sep. 30, 2023	10,484,932
Balance at Mar. 31, 2023	$ 10	152,021	(143,137)	8,894		8,894
Balance, shares at Mar. 31, 2023	10,297,429
Net income (loss)			(433)	(433)		(433)
Stock-based compensation		194		194		194
Balance at Jun. 30, 2023	$ 10	152,215	(143,570)	8,655		8,655
Balance, shares at Jun. 30, 2023	10,297,429
Net income (loss)			(182)	(182)		(182)
Stock-based compensation		149		149		149
Restricted stock vesting
Restricted stock vesting, shares	187,503
Balance at Sep. 30, 2023	$ 10	152,364	(143,752)	8,622		8,622
Balance, shares at Sep. 30, 2023	10,484,932
Balance at Dec. 31, 2023	$ 10	152,754	(144,406)	8,358		8,358
Balance, shares at Dec. 31, 2023	10,501,508
Net income (loss)			(169)	(169)		(169)
Stock option exercises
Stock option exercises, shares	464
Stock-based compensation		(9)		(9)		(9)
Balance at Mar. 31, 2024	$ 10	152,745	(144,575)	8,180		8,180
Balance, shares at Mar. 31, 2024	10,501,972
Balance at Dec. 31, 2023	$ 10	152,754	(144,406)	8,358		8,358
Balance, shares at Dec. 31, 2023	10,501,508
Net income (loss)						(275)
Balance at Sep. 30, 2024	$ 11	152,844	(144,681)	8,174		8,174
Balance, shares at Sep. 30, 2024	10,544,139
Balance at Mar. 31, 2024	$ 10	152,745	(144,575)	8,180		8,180
Balance, shares at Mar. 31, 2024	10,501,972
Net income (loss)			(289)	(289)		(289)
Stock-based compensation		35		35		35
Restricted stock vesting	$ 1	(1)
Restricted stock vesting, shares	42,167
Balance at Jun. 30, 2024	$ 11	152,779	(144,864)	7,926		7,926
Balance, shares at Jun. 30, 2024	10,544,139
Net income (loss)			183	183		183
Stock-based compensation		65		65		65
Balance at Sep. 30, 2024	$ 11	$ 152,844	$ (144,681)	$ 8,174		$ 8,174
Balance, shares at Sep. 30, 2024	10,544,139

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES:
Net loss	$ (275)	$ (921)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation of property and equipment	34	29
Amortization of intangible assets, license and supply agreement and finance lease right-of-use asset	68	134
Stock-based compensation	91	662
Inventory impairments and write offs	214	106
Provision for bad debt expense		14
Loss on foreign currency transactions	1
Gain on disposal of equipment	(5)
Decrease (increase) in operating assets:
Accounts receivable	(195)	(171)
Inventory	(843)	778
Prepaid expenses and other current assets	23	15
Right-of-use assets	364	234
Other assets	36	(69)
(Decrease) increase in operating liabilities:
Accounts payable	(477)	65
Accrued expenses	(470)	425
Lease liabilities	(362)	(237)
Net cash provided by (used in) operating activities	(1,796)	1,064
INVESTING ACTIVITIES:
Proceeds from sale of equipment	5
Purchase of property and equipment	(55)
Net cash used in investing activities	(50)
FINANCING ACTIVITIES:
Principal payments on finance lease liability	(4)	(4)
Principal payments on equipment financing		(1)
Payments on secured note payable		(71)
Net cash used in financing activities	(4)	(76)
Net increase (decrease) in cash and cash equivalents	(1,850)	988
Cash and cash equivalents, beginning of period	4,307	3,634
Cash and cash equivalents, end of period	2,457	4,622
Supplemental disclosure of cash flow information
Cash paid for interest	1	6
Supplemental disclosure of noncash investing and financing activities
Right-of-use asset obtained in exchange for finance lease liability	$ 22

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ 183	$ (289)	$ (169)	$ (182)	$ (433)	$ (306)	$ (275)	$ (921)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2024
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. 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, and 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 along with our Whippany, NJ facility, houses the Company’s corporate headquarters, research, manufacturing, and distribution facilities.

Basis of Presentation and Liqui

Basis of Presentation and Liquidity and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Liquidity and Significant Accounting Policies	Note 2 – Basis of Presentation and Liquidity and Significant Accounting Policies Interim Financial Information The accompanying unaudited condensed 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 condensed consolidated balance sheet as of December 31, 2023 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, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. The condensed 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, 2023. 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 condensed consolidated financial statements include the accounts of Nephros, Inc. and its subsidiary, 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 condensed consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with 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, the assessment of the ability to continue as a going concern and assumptions used in determining stock compensation such as expected volatility and risk-free interest rate. Liquidity In connection with SRP’s plan of dissolution and pursuant to an agreement between the Company and SRP entered into on May 24, 2023, SRP assigned substantially all of its remaining assets to the Company in satisfaction of the entire loan balance. See “Note 11 – Stockholders’ Equity – Noncontrolling Interest”. Accordingly, as of September 30, 2024, there was no outstanding balance of this loan. Although we generated positive cash flow from operations of $ 1.1 1.8 144.7 While we achieved net income for the three months ended September 30, 2024, at present we cannot be certain that we will be able to generate a sufficient amount of product revenue to achieve profitability on an ongoing basis. The Company continues to focus on growth in sales and managing tight expenses with the goal of returning to cash flow positive from operations. The investment in inventory in 2024 is preparing for higher sales volumes of key products in the future. The Company believes that the tight focus on operations and its current cash balances are sufficient to fund its current operating plan through at least the next 12 months from the date of issuance of the accompanying condensed consolidated financial statements. However, if the Company’s operating results do not meet its expectations, the Company may need to further reduce discretionary expenditures such as headcount, R&D projects, and other variable costs. Recent Accounting Pronouncements, Not Yet Effective In March 2024, the FASB issued ASU 2024-01, “ASC 718-Scope Application of Profits Interest and Similar Awards,” which provides guidance to assist entities in determining whether profits interest and similar awards should be accounted for in accordance with Topic 718, Compensation—Stock Compensation. The guidance is effective for the Company’s annual reporting period ending December 31, 2025, including interim periods. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures,” which enhances the transparency and decision usefulness of income tax disclosures. The guidance is effective for the Company’s annual reporting period ending December 31, 2025. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures,” which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for the Company beginning in the annual reporting period ending December 31, 2024 and interim periods beginning in fiscal year 2025. Early adoption is permitted. The Company is assessing the impact of adopting this guidance 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, 2024, and 2023, 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 2024 2023 A 27 % 35 % B 10 % 13 % Total 37 % 48 % For the nine months ended September 30, 2024, and 2023, the following customers accounted for the following percentages of the Company’s revenues, respectively: Customer 2024 2023 A 27 % 24 % B 8 % 11 % Total 35 % 35 % As of September 30, 2024, and December 31, 2023, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively: Customer 2024 2023 B 15 % 6 % C 15 % - A 13 % 12 % Total 43 % 18 % 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 credit losses was approximately $ 11,000 14,000 Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. In accordance with ASC Topic 350, Intangibles-Goodwill and Other st No

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
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, 2024, or 2023. In addition to product revenue, the Company recognizes revenue related to services to customers, royalties 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, 2024 were approximately $ 46,000 106,000 29,000 72,000

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4 – 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, 2024 the Company’s cash equivalents consisted of money market funds. At December 31, 2023, the Company’s cash equivalents consisted of money market funds and certificates of deposit. 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, 2024 and December 31, 2023, 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, 2024 Cash $ 818 $ - $ - Money market funds 1,639 - Cash and cash equivalents $ 2,457 $ - $ - December 31, 2023 Cash $ 274 $ - $ - Money market funds 2,515 - - Certificate of deposit 1,518 - - Cash and cash equivalents $ 4,307 $ - $ - 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 their short-term nature. The carrying amounts of the lease liabilities and equipment financing approximate fair value as of September 30, 2024 and December 31, 2023 because those financial instruments bear interest at rates that approximate current market rates for similar agreements with similar maturities and quality.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventory	Note 5 – 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, 2024 and December 31, 2023, were as follows: Schedule of Inventory, Net September 30, 2024 December 31, 2023 (in thousands) Finished goods $ 2,730 $ 2,144 Raw materials 369 326 Total inventory $ 3,099 $ 2,470

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Note 6 – Intangible Assets and Goodwill Intangible Assets Intangible assets as of September 30, 2024 and December 31, 2023 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, 2024 December 31, 2023 Cost Accumulated Amortization Net Cost Accumulated Amortization Net (in thousands) Customer relationships $ 540 $ (183 ) $ 357 $ 540 $ (159 ) $ 381 Total intangible assets $ 540 $ (183 ) $ 357 $ 540 $ (159 ) $ 381 The Company recognized amortization expense of approximately $ 8,000 11,000 The Company recognized amortization expense of approximately $ 24,000 31,000 As of September 30, 2024, future amortization expense for each of the next five years is (in thousands): Schedule of Future Amortization Expense Fiscal Years 2024 (excluding the nine months ended September 30, 2024) $ 8 2025 32 2026 32 2027 32 2028 32 2029 32 Goodwill Goodwill has a carrying value on the Company’s condensed consolidated balance sheets of approximately $ 0.8

License and Supply Agreement, n

License and Supply Agreement, net	9 Months Ended
	Sep. 30, 2024
License And Supply Agreement Net
License and Supply Agreement, net	Note 7 – 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. In December 2023, the Company signed a new agreement with Medica which extends the term until December 31, 2028, unless earlier terminated by either party in accordance with the terms of the License and Supply Agreement. In exchange for the license, the gross value of the intangible asset capitalized was $ 2.3 million. License and Supply Agreement, net, on the condensed consolidated balance sheet is $ 0.2 million and $ 0.3 million as of September 30, 2024 and December 31, 2023, respectively. Accumulated amortization is $ 2 million as of September 30, 2024 and December 31, 2023. The intangible asset is being amortized as an expense over the life of the License and Supply Agreement. Amortization expense of approximately $ 14,000 and $ 33,000 was recognized in each of the three months ended September 30, 2024 and 2023 on the condensed consolidated statement of operations. As of December 11, 2023, the Company has agreed with Medica to pay interest per month at the EURIBOR 360-day rate plus 500 basis points calculated on the principal amount of any outstanding invoices that are overdue by more than 15 days beyond the original payment terms. In addition, for the period beginning April 23, 2014 through December 31, 2023, the Company paid Medica a royalty rate of 3 102,000 292,000 102,000

Secured Note Payable

Secured Note Payable	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Secured Note Payable	Note 8 – 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 nine months ended September 30, 2023, the Company made payments under the Secured Note of approximately $ 71,000 1,000

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases
Leases	Note 9 – Leases The Company has operating leases for corporate offices 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, 2024 Three months ended September 30, 2023 (in thousands) Operating lease cost $ 112 $ 90 Finance lease cost: Amortization of right-of-use assets - 2 Interest on lease liabilities - - Total finance lease cost - 2 Variable lease cost 37 2 Total lease cost $ 149 $ 94 Nine months ended September 30, 2024 Nine months ended September 30, 2023 (in thousands) Operating lease cost $ 364 $ 272 Finance lease cost: Amortization of right-of-use assets 4 6 Interest on lease liabilities 2 2 Total finance lease cost 6 8 Variable lease cost 62 9 Total lease cost $ 432 $ 289 Supplemental cash flow information related to leases was as follows: Schedule of Supplemental Cash Flow Information Related to Leases Nine months ended September 30, 2024 Nine months ended September 30, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 456 $ 272 Financing cash flows from finance leases $ 4 $ 4 Supplemental balance sheet information related to leases was as follows: Schedule of Supplemental Balance Sheet Information Related to Leases September 30, 2024 December 31, 2023 (in thousands) Operating lease right-of-use assets $ 1,438 $ 1,803 Finance lease right-of-use assets $ 23 $ 4 Current portion of operating lease liabilities $ 333 $ 442 Operating lease liabilities, net of current portion 1,136 1,390 Total operating lease liabilities $ 1,469 $ 1,832 Current portion of finance lease liabilities $ 5 $ 4 Finance lease liabilities, net of current portion 18 - Total finance lease liabilities $ 23 $ 4 Weighted average remaining lease term Operating leases 3.8 4.3 Finance leases 4.1 0.6 Weighted average discount rate Operating leases 8.0 % 8.0 % Finance leases 8.0 % 8.0 % As of September 30, 2024, maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities Operating Leases Finance Leases (in thousands) 2024 (excluding the nine months ended September 30, 2024) $ 107 $ 1 2025 435 7 2026 450 7 2027 450 7 2028 251 5 Total future minimum lease payments 1,693 27 Less imputed interest (224 ) (4 ) Total $ 1,469 $ 23

Stock Plans and Share-Based Pay

Stock Plans and Share-Based Payments	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Plans and Share-Based Payments	Note 10 – 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 condensed consolidated statement of operations. 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 85,198 0.1 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, 2024. Schedule of Fair Value Assumptions Assumptions for Option Grants Stock Price Volatility 70.34 % Risk-Free Interest Rate 4.45 % Expected Life (in years) 6.08 Expected Dividend Yield - % Stock-based compensation expense related to stock options was approximately $ 64,000 137,000 62,000 2,000 134,000 3,000 Stock-based compensation expense related to stock options was $ 76,000 486,000 71,000 5,000 185,000 109,000 450,000 36,000 There was no 555,000 2.5 Restricted Stock There was no 12,000 Total stock-based compensation expense for restricted stock was approximately $ 15,000 49,000 23,781 133,722 30,000 As of September 30, 2024, 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 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

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders’ Equity	Note 11 – Stockholders’ Equity Noncontrolling Interest In separate transactions in September 2018 and February 2022, SRP issued and sold an aggregate of 700,003 3.5 62,500 62.5 188,000 1.3 1.0 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

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) per Common Share	Note 12 – Net Income (Loss) per Common Share Basic income (loss) per common share is calculated by dividing net income (loss) available to common shareholders by the number of weighted average common shares issued and outstanding. Diluted income (loss) per common share is calculated by dividing net income (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. A reconciliation of the Company’s basic and diluted income (loss) per common share is as follows: Schedule of Basic and Diluted Income (Loss) Per Common Share Three Months Ended September 30, (In thousands, except share and per share data) 2024 2023 Numerator: Net income (loss) $ 183 $ (182 ) Denominator: Basic weighted average common shares outstanding 10,544,139 10,460,866 Effect of potentially dilutive options 36,767 — Diluted weighted average common shares outstanding 10,580,906 10,460,866 Income (loss) per common share: Basic $ 0.02 $ (0.02 ) Diluted $ 0.02 $ (0.02 ) Nine Months Ended September 30, (In thousands, except share and per share data) 2024 2023 Numerator: Net loss $ (275 ) $ (921 ) Net income (loss) $ (275 ) $ (921 ) Denominator: Basic weighted average common shares outstanding 10,518,742 10,352,108 Effect of potentially dilutive options — — Diluted weighted average common shares outstanding 10,518,742 10,352,108 Loss per common share: Basic $ (0.03 ) $ (0.09 ) Diluted $ (0.03 ) $ (0.09 ) 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, 2024 2023 Shares underlying options outstanding 1,205,087 1,767,443 Contractual Obligations See Note 9 – Leases for a discussion of the Company’s contractual obligations.

Basis of Presentation and Liq_2

Basis of Presentation and Liquidity and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial Information The accompanying unaudited condensed 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 condensed consolidated balance sheet as of December 31, 2023 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, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. The condensed 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, 2023.
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 condensed consolidated financial statements include the accounts of Nephros, Inc. and its subsidiary, 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 condensed consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with 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, the assessment of the ability to continue as a going concern and assumptions used in determining stock compensation such as expected volatility and risk-free interest rate.
Liquidity	Liquidity In connection with SRP’s plan of dissolution and pursuant to an agreement between the Company and SRP entered into on May 24, 2023, SRP assigned substantially all of its remaining assets to the Company in satisfaction of the entire loan balance. See “Note 11 – Stockholders’ Equity – Noncontrolling Interest”. Accordingly, as of September 30, 2024, there was no outstanding balance of this loan. Although we generated positive cash flow from operations of $ 1.1 1.8 144.7 While we achieved net income for the three months ended September 30, 2024, at present we cannot be certain that we will be able to generate a sufficient amount of product revenue to achieve profitability on an ongoing basis. The Company continues to focus on growth in sales and managing tight expenses with the goal of returning to cash flow positive from operations. The investment in inventory in 2024 is preparing for higher sales volumes of key products in the future. The Company believes that the tight focus on operations and its current cash balances are sufficient to fund its current operating plan through at least the next 12 months from the date of issuance of the accompanying condensed consolidated financial statements. However, if the Company’s operating results do not meet its expectations, the Company may need to further reduce discretionary expenditures such as headcount, R&D projects, and other variable costs.
Recent Accounting Pronouncements, Not Yet Effective	Recent Accounting Pronouncements, Not Yet Effective In March 2024, the FASB issued ASU 2024-01, “ASC 718-Scope Application of Profits Interest and Similar Awards,” which provides guidance to assist entities in determining whether profits interest and similar awards should be accounted for in accordance with Topic 718, Compensation—Stock Compensation. The guidance is effective for the Company’s annual reporting period ending December 31, 2025, including interim periods. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its condensed consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures,” which enhances the transparency and decision usefulness of income tax disclosures. The guidance is effective for the Company’s annual reporting period ending December 31, 2025. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its condensed consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures,” which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for the Company beginning in the annual reporting period ending December 31, 2024 and interim periods beginning in fiscal year 2025. Early adoption is permitted. The Company is assessing the impact of adopting this guidance 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, 2024, and 2023, 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 2024 2023 A 27 % 35 % B 10 % 13 % Total 37 % 48 % For the nine months ended September 30, 2024, and 2023, the following customers accounted for the following percentages of the Company’s revenues, respectively: Customer 2024 2023 A 27 % 24 % B 8 % 11 % Total 35 % 35 % As of September 30, 2024, and December 31, 2023, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively: Customer 2024 2023 B 15 % 6 % C 15 % - A 13 % 12 % Total 43 % 18 %
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 credit losses was approximately $ 11,000 14,000
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. In accordance with ASC Topic 350, Intangibles-Goodwill and Other st No

Basis of Presentation and Liq_3

Basis of Presentation and Liquidity and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Revenues and Accounts Receivable Percentage of Major Customers	For the three months ended September 30, 2024, and 2023, 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 2024 2023 A 27 % 35 % B 10 % 13 % Total 37 % 48 % For the nine months ended September 30, 2024, and 2023, the following customers accounted for the following percentages of the Company’s revenues, respectively: Customer 2024 2023 A 27 % 24 % B 8 % 11 % Total 35 % 35 % As of September 30, 2024, and December 31, 2023, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively: Customer 2024 2023 B 15 % 6 % C 15 % - A 13 % 12 % Total 43 % 18 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At September 30, 2024 and December 31, 2023, 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, 2024 Cash $ 818 $ - $ - Money market funds 1,639 - Cash and cash equivalents $ 2,457 $ - $ - December 31, 2023 Cash $ 274 $ - $ - Money market funds 2,515 - - Certificate of deposit 1,518 - - Cash and cash equivalents $ 4,307 $ - $ -

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Schedule of Inventory, Net September 30, 2024 December 31, 2023 (in thousands) Finished goods $ 2,730 $ 2,144 Raw materials 369 326 Total inventory $ 3,099 $ 2,470

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets as of September 30, 2024 and December 31, 2023 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, 2024 December 31, 2023 Cost Accumulated Amortization Net Cost Accumulated Amortization Net (in thousands) Customer relationships $ 540 $ (183 ) $ 357 $ 540 $ (159 ) $ 381 Total intangible assets $ 540 $ (183 ) $ 357 $ 540 $ (159 ) $ 381
Schedule of Future Amortization Expense	As of September 30, 2024, future amortization expense for each of the next five years is (in thousands): Schedule of Future Amortization Expense Fiscal Years 2024 (excluding the nine months ended September 30, 2024) $ 8 2025 32 2026 32 2027 32 2028 32 2029 32

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 Three months ended September 30, 2023 (in thousands) Operating lease cost $ 112 $ 90 Finance lease cost: Amortization of right-of-use assets - 2 Interest on lease liabilities - - Total finance lease cost - 2 Variable lease cost 37 2 Total lease cost $ 149 $ 94 Nine months ended September 30, 2024 Nine months ended September 30, 2023 (in thousands) Operating lease cost $ 364 $ 272 Finance lease cost: Amortization of right-of-use assets 4 6 Interest on lease liabilities 2 2 Total finance lease cost 6 8 Variable lease cost 62 9 Total lease cost $ 432 $ 289
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, 2024 Nine months ended September 30, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 456 $ 272 Financing cash flows from finance leases $ 4 $ 4
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, 2024 December 31, 2023 (in thousands) Operating lease right-of-use assets $ 1,438 $ 1,803 Finance lease right-of-use assets $ 23 $ 4 Current portion of operating lease liabilities $ 333 $ 442 Operating lease liabilities, net of current portion 1,136 1,390 Total operating lease liabilities $ 1,469 $ 1,832 Current portion of finance lease liabilities $ 5 $ 4 Finance lease liabilities, net of current portion 18 - Total finance lease liabilities $ 23 $ 4 Weighted average remaining lease term Operating leases 3.8 4.3 Finance leases 4.1 0.6 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, 2024, maturities of lease liabilities were as follows: Schedule of Maturities of Lease Liabilities Operating Leases Finance Leases (in thousands) 2024 (excluding the nine months ended September 30, 2024) $ 107 $ 1 2025 435 7 2026 450 7 2027 450 7 2028 251 5 Total future minimum lease payments 1,693 27 Less imputed interest (224 ) (4 ) Total $ 1,469 $ 23

Stock Plans and Share-Based P_2

Stock Plans and Share-Based Payments (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024. Schedule of Fair Value Assumptions Assumptions for Option Grants Stock Price Volatility 70.34 % Risk-Free Interest Rate 4.45 % Expected Life (in years) 6.08 Expected Dividend Yield - %

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Income (Loss) Per Common Share	A reconciliation of the Company’s basic and diluted income (loss) per common share is as follows: Schedule of Basic and Diluted Income (Loss) Per Common Share Three Months Ended September 30, (In thousands, except share and per share data) 2024 2023 Numerator: Net income (loss) $ 183 $ (182 ) Denominator: Basic weighted average common shares outstanding 10,544,139 10,460,866 Effect of potentially dilutive options 36,767 — Diluted weighted average common shares outstanding 10,580,906 10,460,866 Income (loss) per common share: Basic $ 0.02 $ (0.02 ) Diluted $ 0.02 $ (0.02 ) Nine Months Ended September 30, (In thousands, except share and per share data) 2024 2023 Numerator: Net loss $ (275 ) $ (921 ) Net income (loss) $ (275 ) $ (921 ) Denominator: Basic weighted average common shares outstanding 10,518,742 10,352,108 Effect of potentially dilutive options — — Diluted weighted average common shares outstanding 10,518,742 10,352,108 Loss per common share: Basic $ (0.03 ) $ (0.09 ) Diluted $ (0.03 ) $ (0.09 )
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, 2024 2023 Shares underlying options outstanding 1,205,087 1,767,443

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Customer A [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Total	27%	35%	27%	24%
Customer A [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			13%		12%
Customer B [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Total	10%	13%	8%	11%
Customer B [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			15%		6%
Customer Total [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Total	37%	48%	35%	35%
Customer Total [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			43%		18%
Customer C [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Total			15%

Basis of Presentation and Liq_4

Basis of Presentation and Liquidity and Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Net cash provided by (used in) operating activities			$ (1,796,000)	$ 1,064,000
Accumulated deficit	$ 144,681,000		144,681,000		$ 144,406,000
Allowance for doubtful accounts receivable	11,000	$ 14,000	11,000	14,000
Goodwill impairment	$ 0	$ 0	$ 0	$ 0

Revenue Recognition (Details Na

Revenue Recognition (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total net revenues	$ 3,518	$ 3,742	$ 10,292	$ 10,984
Royalty and Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Total net revenues	$ 46	$ 29	$ 106	$ 72

Schedule of Assets and Liabilit

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash	$ 818	$ 274
Money market funds	1,639	2,515
Certificate of deposit		1,518
Cash and cash equivalents	2,457	4,307
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, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 2,730	$ 2,144
Raw materials	369	326
Total inventory	$ 3,099	$ 2,470

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Cost	$ 540	$ 540
Accumulated Amortization	(183)	(159)
Total intangible assets, Net	357	381
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Cost	540	540
Accumulated Amortization	(183)	(159)
Total intangible assets, Net	$ 357	$ 381

Schedule of Future Amortization

Schedule of Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (excluding the nine months ended September 30, 2024)	$ 8
2025	32
2026	32
2027	32
2028	32
2029	$ 32

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 8	$ 11	$ 24	$ 31
Goodwill	$ 759		$ 759		$ 759

License and Supply Agreement,_2

License and Supply Agreement, net (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Dec. 11, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Capitalized intangible assets, gross		$ 2,300,000		$ 2,300,000
Capitalized intangible assets, net		230,000		230,000		$ 271,000
Accumulated amortization		(183,000)		(183,000)		(159,000)
Amortization expense		8,000	$ 11,000	24,000	$ 31,000
Interest rate, description	EURIBOR 360-day rate plus 500 basis points calculated on the principal amount of any outstanding invoices that are overdue by more than 15 days beyond the original payment terms.
Accounts Payable and Accrued Liabilities [Member]
Royalty expense					102,000
Cost of Sales [Member]
Royalty expense			102,000		$ 292,000
License and Supply Agreement [Member]
Capitalized intangible assets, net		200,000		200,000		300,000
Accumulated amortization		2,000,000		$ 2,000,000		$ 2,000,000
Amortization expense		$ 14,000	$ 33,000
License and Supply Agreement [Member] | April 23, 2014 through December 31, 2023 [Member] | Medica [Member]
Royalty rate				3%

Secured Note Payable (Details N

Secured Note Payable (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 27, 2018
Secured Note [Member]
Short-Term Debt [Line Items]
Repayments of notes payable		$ 71,000
Interest expense		$ 1,000
Secured Promissory Note Agreement [Member] | Tech Capital, LLC [Member]
Short-Term Debt [Line Items]
Principal amount of secured note payable			$ 1,200,000
Debt maturity date	Apr. 01, 2023
Debt interest rate	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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases
Operating lease cost	$ 112	$ 90	$ 364	$ 272
Finance lease cost:
Amortization of right-of-use assets		2	4	6
Interest on lease liabilities			2	2
Total finance lease cost		2	6	8
Variable lease cost	37	2	62	9
Total lease cost	$ 149	$ 94	$ 432	$ 289

Schedule of Supplemental Cash F

Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 456	$ 272
Financing cash flows from finance leases	$ 4	$ 4

Schedule of Supplemental Balanc

Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases
Operating lease right-of-use assets	$ 1,438	$ 1,803
Finance lease right-of-use assets	23	4
Current portion of operating lease liabilities	333	442
Operating lease liabilities, net of current portion	1,136	1,390
Total operating lease liabilities	1,469	1,832
Current portion of finance lease liabilities	5	4
Finance lease liabilities, net of current portion	18
Total finance lease liabilities	$ 23	$ 4
Weighted average remaining lease term, Operating leases	3 years 9 months 18 days	4 years 3 months 18 days
Weighted average remaining lease term, Finance leases	4 years 1 month 6 days	7 months 6 days
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, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Operating Leases, 2024	$ 107
Operating Leases, 2025	435
Operating Leases, 2026	450
Operating Leases, 2027	450
Operating Leases, 2028	251
Operating Leases, Total future minimum lease payments	1,693
Operating Leases, Less imputed interest	(224)
Operating Leases, Total	1,469	$ 1,832
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Finance Leases, 2024	1
Finance Leases, 2025	7
Finance Leases, 2026	7
Finance Leases, 2027	7
Finance Leases, 2028	5
Finance Leases, Total future minimum lease payments	27
Finance Leases, Less imputed interest	(4)
Finance Leases, Total	$ 23	$ 4

Leases (Details Narrative)

Leases (Details Narrative)	Sep. 30, 2024
Minimum [Member]
Remaining lease term	1 year
Maximum [Member]
Remaining lease term	5 years

Schedule of Fair Value Assumpti

Schedule of Fair Value Assumptions (Details) - Employee Stock [Member]	9 Months Ended
	Sep. 30, 2024
Subsidiary, Sale of Stock [Line Items]
Stock Price Volatility	70.34%
Risk-Free Interest Rates	4.45%
Expected Life (in years)	6 years 29 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	May 07, 2019
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense			$ 91,000	$ 662,000
Income tax benefit	$ 0	$ 0	0	0
Unrecognized compensation expense	555,000		$ 555,000
Unrecognized compensation expense, period for recognition			2 years 6 months
SRP Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Allocated share based compensation expense				27,000
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]
Allocated share based compensation expense	64,000	137,000	$ 76,000	486,000
Share based compensation expense			185,000
Unvested stock options employee termination expense			109,000
Share-Based Payment Arrangement, Option [Member] | Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Allocated share based compensation expense	62,000	134,000	71,000	450,000
Share-Based Payment Arrangement, Option [Member] | Research and Development Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Allocated share based compensation expense	2,000	3,000	5,000	36,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Allocated share based compensation expense	0	$ 12,000	15,000	$ 49,000
Unvested Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense	$ 0		$ 0
Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, granted			85,198
Fair value of stock options, granted			$ 100,000
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
	Mar. 31, 2023	Feb. 28, 2022	Sep. 30, 2018	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2020
Class of Stock [Line Items]
Inventory write down					$ 214,000	$ 106,000
Specialty Renal Products, Inc. [Member]
Class of Stock [Line Items]
Outstanding indebtness	$ 1,500,000
Inventory write down				$ 24,000,000
SRP Purchase Agreement Closing [Member]
Class of Stock [Line Items]
Sale of stock		$ 188,000
Loan Agreement [Member] | Specialty Renal Products, Inc. [Member]
Class of Stock [Line Items]
Principal amount							$ 1,300,000
Proceeds from Loans							$ 1,000,000
Specialty Renal Products, Inc. [Member]
Class of Stock [Line Items]
Number of shares purchase		62,500
Ownership percentage		62.50%
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Issuance of shares		700,003	700,003
Proceeds from sale of preferred stock		$ 3,500,000	$ 3,500,000

Schedule of Basic and Diluted I

Schedule of Basic and Diluted Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income (loss)	$ 183	$ (289)	$ (169)	$ (182)	$ (433)	$ (306)	$ (275)	$ (921)
Basic weighted average common shares outstanding	10,544,139			10,460,866			10,518,742	10,352,108
Effect of potentially dilutive options	$ 36,767
Diluted weighted average common shares outstanding	10,580,906			10,460,866			10,518,742	10,352,108
Basic	$ 0.02			$ (0.02)			$ (0.03)	$ (0.09)
Diluted	$ 0.02			$ (0.02)			$ (0.03)	$ (0.09)

Schedule of Antidilutive Securi

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
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	1,205,087	1,767,443