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

Our effective tax rate differs from the statutory federal tax rate as presented in the following table for the year ended December 31, 2025:

 

   Amount   Percent 
U.S. federal statutory tax rate  $(3,597,000)   21.0%
Research and development credits   (493,000)   2.9 
Nontaxable or nondeductible items   110,000    (0.6)
Changes in valuation allowance   3,980,000    (23.3)
Effective Income Tax Rate  $-    -%

 

Our effective tax rate differs from the statutory federal tax rate as presented in the following table for the year ended December 31, 2024:

 

   Percent 
U.S. federal statutory tax rate   21.0%
Permanent differences   4.0 
Valuation allowance   (25.0)
    -%
Schedule of Deferred Tax Assets and Liabilities

The tax effect of the temporary differences that give rise to the significant portions of the deferred tax assets and liabilities is presented below.

 

       
   December 31, 
   2025   2024 
Deferred tax assets          
Research and development credits  $2,716,190   $2,222,625 
Stock-based compensation   624,182    584,840 
Net operating loss carryforwards   16,092,865    9,353,936 
Research and development amortization   2,324,817    5,617,727 
Deferred tax asset   21,758,054    17,779,128 
           
Less: valuation allowance   (21,754,428)   (17,772,997)
Net deferred tax asset   3,626    6,131 
           
Deferred tax liabilities          
Unrealized gains on securities   (438)   (1,837)
Operating lease right-of-use assets   (622)   (776)
Fixed assets   (2,566)   (3,518)
Net deferred tax assets  $-   $-