v3.25.2
Income Taxes
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes [Text Block]

NOTE 6 - Income Taxes

A summary of the reconciliation of the income tax benefit based on the statutory federal income tax rate of 21% to the income tax expense (benefit) reported in these financial statements for the three and six months ended June 30, 2025 and 2024 is as follows:

    Three months ended June 30,     Six months ended June 30,  
    2025     2024     2025     2024  
    $     $     $     $  
Income tax benefit computed at federal statutory rates   (1,387,243 )   (1,932,400 )   (2,172,541 )   (3,732,840 )
Change in valuation allowance   1,361,984     1,891,670     2,208,194     3,646,013  
Non-deductible stock-based compensation   -     17,822     (58,763 )   47,019  
Other   31,717     11,254     35,595     11,769  
Total income tax expense (benefit)   6,458     (11,654 )   12,485     (28,039 )

The effective tax rates for the three and six months ended June 30, 2025 were 0.10% and 0.12%, respectively. The effective tax rates for the three and six months ended June 30, 2025 and 2024 were less than the statutory rate as the Company does not expect to realize a benefit from a portion of the losses incurred.