Motus GI Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

	2023			2022
	December 31,
	2023			2022
Deferred tax assets:
Net operating loss carryforwards – Federal and state	$	17,943		$	14,614
Net operating loss carryforwards – Israel		18,740			18,813
Share-based compensation		975			1,735
Capitalized research and development		2,184			1,698
Accrued liabilities and reserves		409			681
Total deferred tax assets		40,251			37,541
Deferred tax liabilities:
Right of use asset		(52	)		(109	)
Other		(39	)		(34	)
Total deferred tax liabilities		(91	)		(143	)
Net deferred tax assets before valuation allowance		40,160			37,398
Valuation allowance		(40,160	)		(37,398	)
Net deferred tax assets after valuation allowance	$	-		$	-

A reconciliation of the federal statutory tax rate and the effective tax rates for the years ended December 31, 2023 and 2022 is as follows:

	2023			2022
	For the Year Ended December 31,
	2023			2022
U.S. federal statutory tax rate		21.0	%		21.0	%
State income taxes, net of federal benefit		0.7			6.6
U.S. vs. foreign tax rate differential		0.8			0.8
Non-deductible expenses		(5.8	)		(2.7	)
Tax credits		1.9			-
Deferred tax asset adjustments		(8.0	)		(10.7	)
Change in valuation allowance		(10.6	)		(15.0	)
Effective tax rate		-	%		-	%

A reconciliation of the Company’s NOLs for the years ended December 31, 2023 and 2022 is as follows:

Schedule of Reconciliation of NOL