v3.25.2
Income Taxes (Tables)
3 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Provision
The income tax provision consists of the following components:
 
 
 
For the three months ended
March 31,
2025
 
 
 
 
 
 
For the three months ended
March 31,
2024
 
 
 
Current:
 
 
-
 
 
 
-
 
Federal
 
$
-
 
 
$
-
 
State
 
 
-
 
 
 
-
 
Foreign
 
 
-
 
 
 
-
 
Total current
 
$
-
 
 
$
-
 
 
 
 
 
 
 
 
 
 
Deferred:
 
 
-
 
 
 
-
 
Federal
 
$
-
 
 
$
-
 
State
 
 
-
 
 
 
-
 
Foreign
 
 
-
 
 
 
-
 
Total deferred
 
$
-
 
 
$
-
 
Total income tax expense
 
$
-
 
 
$
-
 
Schedule of Reconciliation Between Actual and Statutory Provision for Income Taxes
A reconciliation between the Company’s actual provision for income taxes and the provision at the United States statutory rate is as follow:
 
 
 
For the three months ended
March 31,
202
5
 
 
 
 
 
 
For the three months ended
March 31,
202
4
 
 
 
(Loss) i
ncome before income tax expense
 
 
 
$
(
2,630,728
)
 
 
$
60,035
 
Computed tax benefit with statutory tax rate
 
 
29.84
%
 
 
29.84
%
Income tax expense computed at statutory income tax rate
 
 
(785,009
)
 
 
 
 
17,914
 
Impact of different tax rates in other jurisdictions
 
 
711,098
 
 
 
(58,145
)
Tax effect of non-deductible expenses
 
 
73,911
 
 
 
 
 
40,231
 
Total income tax expense
 
$
-
 
 
 
$
-