v3.25.2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes [Abstract]  
Schedule of Income Tax Expense (benefit)

Income tax expense (benefit) consisted of the following for the years ended December 31:

 

   2024   2023 
Current tax expense:          
Federal  $
-
   $
-
 
State   581    
-
 
Foreign   
-
    
-
 
Current provision for income taxes  $581   $
-
 
Deferred taxes:          
Federal  $4,045,818   $397,951 
State   105,464    27,676 
Foreign   10,338    
-
 
Change in valuation allowance   (4,161,621)   (425,627)
Deferred provision for income taxes  $
-
   $
-
 
Net income tax expense  $581   $
-
 
Schedule of Deferred Taxes

The tax effects of temporary differences that give rise to significant portions of the deferred taxes consist of the following at December 31:

 

   2024   2023 
Deferred tax asset (liability):        
Accrual to cash adjustment  $729,287   $
-
 
Charitable contributions   1,618    109 
Change in fair value of SAFE agreements   3,106,508    
-
 
R&D expenditures   359,433    255,835 
R&D tax credit carryovers   239,142    43,669 
Right-of-use asset   (65,999)   
-
 
Lease liability   56,893    
-
 
Stock options   55,481    
-
 
Federal net operating loss carryforwards   304,628    343,123 
Foreign net operating loss carryforwards   10,338    
-
 
State net operating loss carryforwards   7,028    
-
 
Valuation allowance   (4,804,357)   (642,736)
Net deferred taxes  $
-
   $
-