v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Schedule of Income before Income Taxes

For financial reporting purposes, income before income taxes includes the following components:

 

   Years Ended December 31 
   2025   2024 
Loss before income taxes:        
United States  $(7,452,574)  $(8,993,799)
Foreign   
-
    
-
 
Loss before income taxes:  $(7,452,574)  $(8,993,799)
Schedule of Expense for Income Taxes

The expense for income taxes consists of:

 

   Year Ended December 31, 
   2025   2024 
Current income tax provision        
Federal  $
             -
   $
             -
 
State   14,853    9,946 
Foreign   
-
    
-
 
    14,853    9,946 
Deferred income tax (benefit) expense          
Federal   
-
    
-
 
State   
-
    
-
 
Foreign   
-
    
-
 
    
-
    
-
 
           
Total income tax (benefit) provision  $14,853   $9,946 
Schedule of Reconciliation Effective Tax Rate on Income

Reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate is as follows:

 

    Year Ended December 31,  
    2025     2024  
    $     %     $     %  
Provision at Federal Statutory Rate   $ (1,565,040 )     21.00 %   $ (1,888,698 )     21.00 %
State and local income tax, net of federal income tax effect*     14,853       (0.20 )%     10,558       (0.12 )%
Foreign tax effects     -       0.00 %     -       0.00 %
Effect of changes in tax laws or rates enacted in the current period     -       0.00 %     -       0.00 %
Effect of cross-border tax laws     -       0.00 %     -       0.00 %
Tax credits     -       0.00 %     -       0.00 %
Changes in valuation allowance     1,288,973       (17.30 )%     (1,337,613 )     14.87 %
Nontaxable or nondeductible items                                
Stock-Based Compensation     327,069       (4.39 )%     232,126       (2.58 )%
Stock Issuance Costs     -       0.00 %     319,908       (3.56 )%
Other Nontaxable or nondeductible items     4,340       (0.06 )%     3,121       (0.03 )%
Changes in unrecognized tax benefits     -       0.00 %     -       0.00 %
Other                                
Attribute Expirations     -       0.00 %     2,473,630       (27.50 )%
Prior Period True Ups     (55,342 )     0.74 %     196,914       (2.19 )%
Provision for Income Taxes   $ 14,853       (0.21 )%   $ 9,946       (0.11 )%

 

*State and local income tax expense was insignificant for the period due to a full valuation allowance recorded against state deferred tax assets. As a result, state income taxes did not have a material impact on the Company’s effective tax rate.
Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities are as follows:

 

   Year Ended December 31, 
   2025   2024 
Deferred tax assets:        
Net operating loss carryforward  $19,108,255   $17,061,064 
Tax credits   205,028    205,028 
Lease liabilities   13,976    14,404 
Accruals and reserves   160,270    148,784 
Capitalized Research Costs   486,900    438,127 
Taxable Goodwill   621,194    871,350 
Intangible assets   608,149    556,997 
Stock Compensation   266,181    275,637 
Fixed assets   24,963    24,461 
Other   4,179    4,943 
Total deferred tax assets before valuation allowance:   21,499,095    19,600,795 
Valuation allowance   (21,406,326)   (19,587,280)
Deferred tax assets, net of valuation allowance   92,769    13,515 
           
Deferred tax liabilities:          
Right-of-use assets   (92,769)   (13,515)
Total deferred tax liabilities   (92,769)   (13,515)
Net deferred tax liability  $
-
   $
-