Income Taxes - Schedule of Components of Income Tax Expense Benefit |
The components of the provision for income tax
benefit (expense) from continuing operations are:
Income Taxes - Schedule of Components of Income Tax Expense Benefit
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Three-Month Period Ended March 31, |
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2025 | |
2024 |
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Current taxes – PRC | |
$ | — | | |
$ | — | |
Deferred tax – PRC entities | |
| — | | |
| (1,270,060 | ) |
Total Income tax (expenses) benefits | |
$ | — | | |
$ | (1,270,060 | ) |
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Income Taxes - Schedule of Deferred Tax Assets and Liabilities |
Significant components of the Company’s
deferred tax assets and liabilities at March 31, 2025 and December 31, 2024 are as follows:
Income Taxes - Schedule of Deferred
Tax Assets and Liabilities
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March 31, | |
December 31, |
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2025 | |
2024 |
Deferred tax liabilities | |
$ | — | | |
$ | — | |
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| | | |
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Deferred tax assets: | |
| | | |
| | |
Exploration costs | |
| 1,734,410 | | |
| 1,731,920 | |
Allowance | |
| 420,144 | | |
| 729,731 | |
Impairment of property plant and equipment | |
| 1,688,519 | | |
| 1,686,095 | |
PRC tax losses | |
| 10,455,188 | | |
| 9,125,871 | |
US federal net operating loss | |
| 1,720,637 | | |
| 1,661,464 | |
Total deferred tax assets | |
| 16,018,898 | | |
| 14,935,081 | |
Valuation allowance | |
| (16,018,898 | ) | |
| (14,935,081 | ) |
Net deferred tax asset | |
$ | — | | |
$ | — | |
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