v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Income Taxes

As required by ASU 2023-09, the components of loss before income taxes are as follows:

 

 Schedule of Components of Loss Before Income Taxes

   2025   2024 
   For the year ended December 31, 
   2025   2024 
Domestic (U.S.)  $(219)  $5,521 
Foreign   -    - 
Total income (loss) before income taxes  $(219)  $5,521 
Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the income tax benefit computed at the U.S. federal statutory rate to the Company’s reported income tax expense. Percentages are based on the loss before income taxes.

 

 Schedule of Effective Income Tax Rate Reconciliation

For the year ended December 31,  2025($)   2025(%)   2024($)   2024(%) 
Federal statutory tax (at 21%)  $(46)   21.0%  $1,159    21.0%
State and local income taxes, net 1   (9)   4.1%   235    4.3%
Non-taxable or non-deductible items                    
 Change in fair value of derivatives 2   -    0.0%   (1,496)   -27.1%
 Other permanent items   1    -0.5%   -    0.0%
Changes in valuation allowances   54    -24.6%   102    1.8%
Income tax expense (benefit)  $-    0.0%  $-    0.0%

 

1The state and local income tax category is primarily comprised of taxes related to the state of Georgia, which represents 100% of the Company’s state tax effect for the periods presented, net of federal tax benefits.

 

2In accordance with ASU 2023-09, the Company has disaggregated reconciling items that exceed 5% of the statutory tax amount. This includes the non-taxable change in fair value of derivatives in 2024.
Schedule of Components of Deferred Tax Assets

Significant components of the Company’s deferred tax assets are as follows:

 

 

       
   As of December 31, 
   2025   2024 
U.S. federal tax loss carry–forward  $19,039   $18,994 
U.S. State tax loss carry–forward   464    455 
Equity based compensation   8,567    8,567 
Fixed assets, intangibles, and goodwill   (51)   (51)
Long-term investments   (7)   (7)
Total deferred tax assets   28,012    27,958 
Less: valuation allowance   (28,012)   (27,958)
Net deferred tax asset  $-   $- 
Schedule of Material Income Taxes Paid

The Company paid no material income taxes during the years ended December 31, 2025, and 2024.

 

 Schedule of Material Income Taxes Paid

   2025   2024 
   For the year ended December 31, 
   2025   2024 
Federal (U.S.)  $-   $- 
State and local (Georgia)   -    - 
Foreign   -    - 
Total Income Taxes Paid, net of refunds.  $-   $-