v3.25.2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes  
Schedule of income tax expense benefit

 

 

2024

 

 

2023

 

Current

 

$-

 

 

$-

 

Deferred

 

 

-

 

 

 

-

 

Income tax benefit

 

$-

 

 

$-

 

Schedule of deferred tax assets or liabilities

 

 

2024

 

 

2023

 

Deferred tax assets and liabilities

 

 

 

 

 

 

Net operating losses carried forward

 

$7,148,000

 

 

$5,780,000

 

Intangibles

 

 

(57,000)

 

 

(103,000)

Total deferred tax asset

 

 

7,091,000

 

 

 

5,677,000

 

Less: valuation allowance

 

 

(7,091,000)

 

 

(5,677,000)

Net deferred tax asset

 

$-

 

 

$-

 

Schedule of reconciliation of the income tax benefit

 

 

2024

 

 

2023

 

Statutory tax rate

 

 

21.0%

 

 

21.0%

State tax rate

 

 

8.8%

 

 

8.8%

Effect of change in income tax rate for deferred tax assets

 

 

 

 

 

 

 

 

Effect of expenses not deductible for tax purpose

 

 

(1.8)%

 

 

0.0%

Amortization

 

 

0.5%

 

 

0.5%

Change in valuation allowance

 

 

(28.5)%

 

 

(30.3)%

Effective income tax rate

 

 

0.0%

 

 

0.0%