v3.26.1
Note 5 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  

2025

  

2024

 

Current:

        

Federal

 $  $ 

State income tax, net of federal benefit

  5,957   (29,422)

Sub-total:

  5,957   (29,422)
         

Deferred:

        

Federal

      

State income tax, net of federal benefit

      

Sub-total:

      

Total

 $5,957  $(29,422)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  

Years Ended December 31,

 
  

2025

 
  

Amount

  

%

 

U.S. Federal statutory tax rate

 $(670,844)  21.00%

State and local income tax, net of federal income tax effect

        

Georgia Income Tax Effect

  9,613   -0.30%

Texas Income Tax Effect

  14,216   -0.44%

California Income Tax Effect

  4,990   -0.16%

All Other States Income Tax Effect

  14,697   -0.46%

Change in State Valuation Allowance

  73,643   -2.31%

State Rate Change Adjustment

  (134,713)  4.22%

State Return to Provision Adjustments

  23,511   -0.74%

Changes in Federal valuation allowance

  (33,261)  1.04%

Nontaxable or nondeductible items

        

Disallowed interest

  673,785   -21.09%

Other

  1,192   -0.04%

Other adjustments

        

Return to Provision Adjustments

  29,128   -0.91%

Other, net

     0.00%

Income tax expense (benefit)

 $5,957   -0.19%
         
  

Years Ended December 31,

 
  

2024

 
  

Amount

  

%

 

U.S. Federal statutory tax rate

 $(967,073)  21.00%

State and local income tax, net of federal income tax effect

  (117,832)  2.55%

Tax Credits - R&D

  (80,589)  1.75%

Changes in valuation allowances

  (24,376,664)  529.34%

Disallowed interest

  658,136   -14.29%

Other

  1,596   -0.03%

Deferred tax effects of state net operating loss true-ups

  24,853,004   -539.68%

Income tax expense (benefit)

 $(29,422)  0.64%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

December 31,

 
  

2025

  

2024

 
         

Deferred Tax Assets (Liabilities):

        

Federal net operating loss carry-forwards

 $19,202,216  $18,781,815 

State net operating loss carry-forwards

  93,437   76,054 

Accrued interest

  871,968   848,914 

Stock based compensation

  1,019,669   846,566 

Intangible assets

  (22,571)  (18,450)

Fixed assets

  17,513   21,923 

Accrued liabilities

  73,788   126,457 

Lease liabilities

  17,090    

Capitalized research expenses

     554,946 

Research and development credit carry-forward

  65,796   80,589 

Total deferred tax assets

  21,338,906   21,318,814 

Valuation allowance for deferred tax assets

  (21,338,906)  (21,318,814)

Deferred tax assets, net of valuation allowance

 $  $